Ankur Jain’s Post

SCOR reported a Q3 2024 net loss of €117 million, driven by challenges in its L&H reinsurance segment, despite strong P&C performance with a combined ratio of 88.3%. While L&H insurance revenue declined by 10.3%, P&C revenue dropped 2.5%, with results impacted by natural catastrophe losses and a completed L&H assumption review, as the company focuses on remedial strategies and diversified growth.

There is a lot of positive news from insurance carriers coming down the pipeline for business owners. Insurance and reinsurance carriers have started to find equilibrium with rates in efforts to keep up with inflation and the costs of paid-out claims. Businesses that want to reduce incurred insurance costs as much as possible should continue to improve and emphasize their risk management practices. Businesses and their loss prevention programs will continue to face scrutiny by insurance underwriters. Let's discuss how you can take the reins in navigating the insurance pricing cycles. You can gain a competitive advantage over your peers by understanding and leveraging these cycles. I'm here to guide you through this process, ensuring you're always in the driver's seat. #employeeengagement #retention #retentionstrategies #workforceplanning #workforceplan #workforcedevelopmentstrategy #workforceplanner #workforcestrategy #workforce #workforceplanningstrategy #work #cheaper #affordable #insurance #rates #overhead #expenses #overhead #commercial #business #smallbusines #startup #businessinsurance #businessowner #businessowners #businessownership #ownership #commercialinsurance #insuranceagent #agents #agent #commercialinsure #captive #groupcaptive #singleparentcaptive #risktransfer #privateequity #ebitda #venturecapital #aquisition #finance #equity #capital

SCOR reported a Q3 2024 net loss of €117 million, driven by challenges in its L&H reinsurance segment, despite strong P&C performance with a combined ratio of 88.3%. While L&H insurance revenue declined by 10.3%, P&C revenue dropped 2.5%, with results impacted by natural catastrophe losses and a completed L&H assumption review, as the company focuses on remedial strategies and diversified growth.

Canopius: A ‘virtual start-up' in a reinsurance world where start-ups are over http://spr.ly/6043WmHsJ #InsuranceInsidernews #insurance #reinsurance

SCOR reported a Q3 2024 net loss of €117 million, driven by challenges in its L&H reinsurance segment, despite strong P&C performance with a combined ratio of 88.3%. While L&H insurance revenue declined by 10.3%, P&C revenue dropped 2.5%, with results impacted by natural catastrophe losses and a completed L&H assumption review, as the company focuses on remedial strategies and diversified growth.

SCOR reported a Q3 2024 net loss of €117 million, driven by challenges in its L&H reinsurance segment, despite strong P&C performance with a combined ratio of 88.3%. While L&H insurance revenue declined by 10.3%, P&C revenue dropped 2.5%, with results impacted by natural catastrophe losses and a completed L&H assumption review, as the company focuses on remedial strategies and diversified growth.

Discover the latest shifts in the reinsurance market, including rising nat-cat costs and strategic adjustments. Stay informed about industry trends! https://hubs.la/Q02FXB0y0 #Reinsurance #InsuranceMarket #NaturalCatastrophes #Insurance

Diversify, Don't Die: An Example from the Oracle of Omaha Warren Buffett, the legendary investor, famously stated: Rule No.1: Never lose money. Rule No.2: Never forget Rule No.1. While it's impossible to guarantee profits, diversification is a powerful tool to mitigate risk. By spreading investments across various asset classes, industries, companies, and geographies, you can weather market storms and reduce the impact of volatility. Remember, a diversified portfolio isn't just a strategy; it's a shield against potential financial loss as exemplified in the case of this article. Buffett himself has mastered this principle through his conglomerate, Berkshire Hathaway, which houses renowned insurance companies like Berkshire Hathaway Primary Group, Berkshire Hathaway Reinsurance Group, and Geico. With a diverse revenue streams and a solid insurance programs would provide a solid foundation for long-term growth, even in turbulent economic times. #investing #diversification #WarrenBuffett #insurance

Lockton's latest analysis reveals a stabilized reinsurance market and positive trends in property insurance rates for 2024. Dive into the details of what's driving this shift and how insurers are adapting. https://hubs.la/Q02mJbsD0 #InsuranceAnalysis #ReinsuranceMarket #PropertyInsurance #MarketTrends #LocktonInsights

A stellar line-up of reinsurance industry experts attracted 350+ attendees to The Insurer’s 2024 Pre-Monte Carlo Forum held at Lime St yesterday morning ahead of Sunday’s Rendez-vous de Septembre. Read our full coverage of the conference here https://bit.ly/3Mxo1w4 and stay tuned for further updates from the kick-off event of the season. David Howden opened up the day with a vibrant keynote that posed valuable questions about reinsurers maintaining relevancy in the market today and what opportunities lie ahead in the space, touching on cat loss, capacity and consumer prioritisation as well as roles within global transformation and moves towards a low carbon economy. Howden was then followed by ARK SYNDICATE MANAGEMENT LIMITED’s Ian Beaton, who reinforced the importance of underwriters maintaining discipline when it comes to pricing, maintaining an urge on avoiding complacency and over-optimism. Arch Capital Group Ltd.'s Maamoun Rajeh then went on to highlight his concerns about casualty exposures not being adequately reserved for and touched on the upcoming renewal season being the ‘most nuanced’ in a very long time. The forum then heard from Lloyd's Rachel Turk, who’s main message was surrounding Lloyd’s forecasted ability to improve reinsurance market share as it’s focus on syndicate performance management has created opportunity for growth. Aspens Services Ltd Mark Cloutier followed with about the importance of pushing towards further innovation in the sector and changes in culture and reinforced that if we “don't use this collaborative power that we have as a sector, there's a significant waste of opportunity and we'll just continue this endless cycle.” The final keynote from The Fidelis Partnership’ Charles Mathias, emphasised Fidelis’ role as a full service system and the impact vs opportunity created by climate change, using the shift of business from the admitted market to the E&S market in the US as an example of how different sectors are quicker to respond to cat events than others. Speakers came together to form what was a sharp, punchy panel session, where the group agreed that the main takeaways from the day were innovation, collaboration and thinking creatively and “ambitiously” about where and how insurance can be used. Stay ahead of the game at this year’s RVS with our coverage from the Forum here https://bit.ly/3Mxo1w4 Themes of innovation and abstract-thinking from yesterday tied in especially well with the launch of Parametric Insurer, the latest vertical addition to The Insurer’s product suite. It’s good to be different. Be the first to understand new ways organisations are managing climate and emerging risks. Read the launch edition of Parametric Insurer here https://bit.ly/4geurOu Thank you to our speakers and attendees at yesterday’s forum, we’ll see you at the 2024 RVS and look forward to being your September scene-setters once again in 2025. #premc2024 #rvs2024 #reinsurancemonth #reinsurance