Pre-tax income in WR Berkley's reinsurance division was down 37 percent in the second quarter, from $27mn to $17mn, compared to the prior year period, as catastrophe activity took its toll.
Scor's property casualty insurance business Scor Global P&C saw operating profits fall 47 percent to EUR103mn ($113mn) in the first half of 2016, due to the impact of Q2 catastrophe losses.
Specialist reinsurance broker Capsicum Re has hired Patrick Bousfield, Jane Palmer and Alice O'Dwyer-Smith to its cyber team, based in the firm's London office.
Lancashire appears to have avoided the worst of the second quarter series of catastrophe events, with its exposure to the Fort McMurray wildfire and Q2 energy losses contained within the company's reinsurance programme, according to group CFO Elaine Whelan.
Argenta Holding's Singapore-based subsidiary Argenta Underwriting Asia (AUA), has appointed Ian Picton as energy underwriter for the Asia Pacific region, reporting to Argenta Syndicate 2121's principal underwriter in Asia, Scott Sykes.
Underwriting profits at Brit Insurance fell by two-thirds during the first half of 2016, while the group's operating profits increased by a whopping 280 percent, boosted by strong investment returns.
The Michael Karfunkel Family 2005 Trust is to inject $200mn of capital into Tower Group acquisition vehicle ACP Re to cover reserve deteriorations and will cancel an outwards reinsurance deal with AmTrust and National General Holdings, which would probably otherwise have been hit.
The troubling 2016 claims experience for beleaguered Swiss Re Corporate Solutions (SRCS), the industrial insurance arm of the reinsurer, has continued in the second quarter after it absorbed two large man-made North American casualty losses.
A picture is slowly emerging of the cost to (re)insurers of commercial property losses arising from the northern Alberta wildfires in May, with damage to a housing estate and a post-secondary college the latest to be reported.
Blimey, these Q2 cats really are hitting the bottom line across a wide swathe of classes and geographies.