Chubb’s Post

Last week Lloyd's hosted their first Capital Markets Day of 2024 to share their market view, including some of the following highlights:    𝐅𝐢𝐯𝐞 𝐘𝐞𝐚𝐫𝐬 𝐨𝐟 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧:   Lloyd's has been making solid progress on its strategic priorities, modernising its digital framework and cutting operating costs. Alongside this, Lloyd’s has led the charge on critical issues like geopolitics, cyber risks, and pandemics. 𝐂𝐨𝐧𝐬𝐢𝐬𝐭𝐞𝐧𝐭 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞:   2023 was a great year, with an 84% combined ratio and 11.6% premium growth. The balance sheet remains strong, with a £4.6bn reserve margin, resulting in AA ratings from S&P, Fitch, and Kroll. 𝐆𝐥𝐨𝐛𝐚𝐥 𝐑𝐞𝐚𝐜𝐡:   Lloyd's is truly global, with over £52bn in gross written premium spread across 200 lines of business and key markets worldwide. Our extensive network includes 200 reinsurance licences and 77 direct licences. To summarise, John Neal, Lloyd’s CEO, said, “𝐼𝑛 2023 𝑤𝑒 𝑢𝑛𝑑𝑒𝑟𝑤𝑟𝑜𝑡𝑒 𝑟𝑖𝑠𝑘𝑠 𝑤ℎ𝑖𝑐ℎ 𝑔𝑒𝑛𝑒𝑟𝑎𝑡𝑒𝑑 𝑜𝑣𝑒𝑟 £50𝑏𝑛 𝑜𝑓 𝑝𝑟𝑒𝑚𝑖𝑢𝑚, 𝑎 𝑓𝑖𝑔𝑢𝑟𝑒 𝑡ℎ𝑎𝑡 𝑖𝑠 𝑟𝑖𝑠𝑖𝑛𝑔. 𝐺𝑙𝑜𝑏𝑎𝑙 𝑖𝑛𝑠𝑢𝑟𝑎𝑛𝑐𝑒 𝑝𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑎𝑟𝑒 𝑔𝑟𝑜𝑤𝑖𝑛𝑔 𝑎𝑡 𝑎𝑟𝑜𝑢𝑛𝑑 𝑡𝑤𝑖𝑐𝑒 𝑡ℎ𝑒 𝑔𝑙𝑜𝑏𝑎𝑙 𝑟𝑎𝑡𝑒 𝑜𝑓 𝐺𝐷𝑃 𝑎𝑛𝑑 𝐿𝑙𝑜𝑦𝑑’𝑠 𝑔𝑟𝑜𝑤𝑡ℎ 𝑖𝑠 𝑒𝑣𝑒𝑛 𝑏𝑒𝑡𝑡𝑒𝑟 𝑡ℎ𝑎𝑛 𝑡ℎ𝑎𝑡.” We at Hampden believe the current rating environment and the growth opportunity at Lloyd’s provide the optimal time to realise higher returns. You can read the full report from Lloyd’s here - https://lnkd.in/erFb-dMj For more information on how to benefit from investing at Lloyd's or about Hampden Agencies Limited and the services we provide, please visit https://lnkd.in/eWnbMSQ9 #LloydsofLondon #HampdenAgenciesLimited #investment #CapitalMarketsDay #capitalmanagement #assetmanagement #highnetworth  #hnwi  #familyoffices  #lloydsoflondon  #londonmarket #familyoffice #insuranceindustry #insuranceagency #insuranceadvisor #insurance #insurancepodcast #reinsurance #insuranceindustry #insuranceagency #insuranceadvisor (Capital may be at risk)

Chubb Earnings 2023 Highlights.. 🚀 📈 What went well? What not so well?.. Company Performance => 📊 Total Net Income $9bn, up 72% from 2022 => 📈 Global P&C UW income $5.5bn, up 20% from 2022 => Life income $1bn => Pre Tax Investment income $5bn, up 32% Property & Casualty => Driven by rates and top line growth and prior year development => 📈 Rates increased on Property and Casualty lines, outpacing loss cost => 📉 Rates decreased on Financial Lines as well as increase loss cost Investment Income => 📈 Significant growth from better rate environment Will this rate continue into 2024? Or will we see a softening market? #insurance #chubb #equities #reinsurance

INTERVIEW: Keese: Lloyd’s price adequacy drive led to premium target miss in FY23 Learn more👇 https://lnkd.in/e23KjcAa Lloyd’s CFO Burkhard Keese reiterated that price adequacy is at the heart of the Corporation’s growth strategy as he revealed the market missed its calendar year premium target by ~£4bn amid a deterioration in underwriting conditions in some classes of business. Burkhard Keese | Lloyd's #results #insurance #reinsurance #insurancemarket #reinsurancemarket #insurancenews #reinsurancenews

Everest Reaches Peak Performance with Rising Premiums and Business Expansion • 1.9% dividend yield, EG is targeting >17% shareholder return. • Gross written premium growth of 20.9% year over year, with a combined ratio of 90.9%. • EG expects to invest more in reinsurance underwriting opportunities in 2024, aiming for a combined ratio target of 89-91%. • Strong earnings growth, with a continued hard market in reinsurance and new specialty lines in the primary insurance business. • Sustaining catastrophe reinsurance share at 7% of business, realizing 45% increase in catastrophe reinsurance rates. #reinsurance #insurance #investing #stocks #marketanalysis #dividends https://lnkd.in/gwga5TPc

Admiral Group Plc shares faced a blow on Wednesday morning as UBS analysts downgraded the insurer on expectations rivals’ margins would catch up faster than hoped. “We like the operational backdrop of increasing UK motor prices, coupled with receding inflation,” the bank wrote in a note. “But, we believe competitors' margins will be catching up faster than we had previously imagined.” Admiral was kicked from a ‘buy’ to a ‘neutral’ rating as a result, with UBS suggesting the insurer’s window of “gaining volumes on better margins” than rivals would soon be up. Admiral reported a motor insurance margin at 19.1% in last August’s half-year results, with rival Direct Line’s sitting at 10% for the following quarter. #LSE #ADM More at #Proactive #ProactiveInvestors http://ow.ly/7Fo51059hMI

Lloyd's has delivered its strongest #underwriting result since 2006 with a combined ratio of 84.0 percent for 2023, an improvement of 7.9 percentage points on the prior year and just 0.9 points off the market’s modern record. #Insurance #LondonMarket #Profits #Growth #2023results https://lnkd.in/efrye4Fp

Understanding risk is very different from simply discussing a price for transferring it. This is the new reality of what ever-more-sophisticated cedants expect from their reinsurers, which must adapt or be left by the wayside. Aon’s Dominic Christian, global chairman of Aon’s Reinsurance Solutions, speaks to the Intelligent Insurer about how the reinsurance industry must adapt quickly to a new era where client demands have escalated beyond traditional expectations. Read the full article below. #RRS24 #RVS2024

ANALYSIS: Hiscox was the only notable riser among Europe-listed (re)insurers in July amid a volatile month for global equity, but US P&C peers had their best month in over a year... https://lnkd.in/gGZFHkHx #insurance #reinsurance #insurancemarket #reinsurancemarket #insurancenews #reinsurancenews

🎥 MS Re’s Wiest: Capacity is there at the right price After two years of tighter market conditions, primary insurers will be looking to offload some of the risk they are holding on their balance sheets to reinsurers, according to MS Reinsurance’s Robert Wiest. https://lnkd.in/gzc3UFkA Robert Wiest | MS Reinsurance | George Abbott #TheInsurerTV #ReinsuranceMonth #reinsurance #reinsuranceinterview #reinsurancemarket #reinsurancenews

Lloyd's is celebrating its best first half results in 17 years with a strengthening of its combined ratio by 1.5 percentage points and a profit before tax of £4.9bn. Reports from S&P Global Ratings and AM Best say that reinsurers “are keen to write more catastrophe risks after adjusting their portfolios, but will do so with caution”. Guy Carpenter have said they expect 1.1 renewals to be guided by the trends already seen in 2024 and that there is adequate capacity in the market. https://lnkd.in/eBhH6udp #reinsurance #insurance #ratings #pricing #captives