A.M. Best: 107.5 combined for 2011

Shorter Best: Cats made it a lackluster year: $44B in cats (10.1 points of CR), more than double the $20B (4.6 points) posted in 2010. Note that even given last year’s fairly normal cat levels, the CR would still have exceeded 100. $33.9B underwriting loss is third worst ever, behind 2001 ($56.4B) and 2002 ($34.3B). [...]

2012 Projections Roundup

With the new year comes a lot of analysts telling us what will happen over the next 12 months. I’ve created a page to round them up. If anyone sees a report I missed, let me know in comments.

Actuaries – the eternal optimists

Update: An earlier version suggested that every accident year was inadequate. Reader GB points out that the article I cite almost certainly refers to the adequacy of the loss reserve on the balance sheet each year end. My misunderstanding also led me to wonder why the article dwelt on asbestos and environmental reserves, but with [...]

Preliminary cat reports – an update

Montpelier pegs Q3 cat losses at $80M $70M. Details on the web page at the top left corner of the blog.

Preliminary cat estimates start trickling in

Over the past few days, insurers have started reporting their preliminary Q3 cat losses – softening the blow for earnings season, which starts around the end of the month. So far a handful of companies (Alterra, Endurance, Cincinnati and a few others) have reported almost $650M in cat losses. This isn’t too surprising, with Hurricane [...]

Aon: Reinsurer capital grew a sliver in Q2, down for the year

Highlights from the first half study of the the 28 large insurers that make up the Aon Benfield Aggregate: Global reinsurer capital totaled US$445B at June 30. That’s 5% less than at year-end but 1% higher than at Q1.That number includes shareholder funds and non-traditional forms of capital. Shareholders funds fell 1.7% in the first [...]

Q2 reserve releases: Not much left

Fitch estimates that P/C reserves were redundant by $6B to $16B at year-end, according to this P/C 360 report. So far this year, insurers have pushed prior-year reserves down $7.4B, which indicates the well must be about dry. The $7.4B takedown comes via Quarterly Statement data released last week (gathered by SNL). The table breaks [...]

SNL: Q2 P-C underwriting result is worst since 2001

The P/C industry is reporting a 117.7 combined ratio for Q2, SNL Financial reports (sub. req., I think). That’s the worst result since third and fourth quarters of 2001, when the industry booked 121 and 120, respectively. How bad? The second-quarter combined ratio easily topped that of other problematic periods for the industry in recent [...]

Q2 earnings update

Link-o-rama updated for Zurich results.

Q2 earnings update

Q2 Link-o-rama page updated. New links include: Progressive 10-Q American Financial 10-Q Hanover webcast and 10-Q Everest Re 10-Q