Reinsurance News

Travelers

Cyber continues to top Travelers Risk Index

29th September 2022

For the third time in four years, cyber threats have been found to be the top overall concern for business decision makers, according to the 2022 Travelers Risk Index results. Of the 1,200 survey participants, more felt that today’s business environment is riskier compared to a year ago, and more than ... Read the full article

Google and Travelers’ team up on ‘connected data ecosystem’

22nd September 2022

Google Cloud and Travelers' are to work together on a ‘connected data ecosystem’ that the two say will enhance the commercial insurance underwriting process. The partnership between the firms will, they said in a statement, will quickly synthesise vast amounts of information, helping Travelers' underwriters more efficiently evaluate risks for large-and-middle-market ... Read the full article

Travelers Syndicate 5000 gets ratings downgrade

3rd August 2022

Syndicate Research Limited (SRL) has downgraded the B^ (Average), negative outlook, Continuity Opinion of Lloyd's syndicate 5000 (Travelers Syndicate Management Limited) to B-^ (Below Average). SRL explained that the downgrade was made in light of the syndicate’s underperformance relative to its B (Average) peer group in recent years, and assigned a ... Read the full article

Catastrophe losses erode almost half of Travelers’ aggregate reinsurance retention

22nd July 2022

US primary insurer Travelers accumulated $935 million of qualifying losses towards the aggregate retention of its $2 billion property catastrophe reinsurance treaty during H1 2022, according to the company's Chief Financial Officer (CFO), Dan Frey. Yesterday, Travelers announced a decline in net income for the second-quarter on the back of ... Read the full article

Travelers upsizes northeast catastrophe reinsurance by $100m at July renewal

21st July 2022

US primary insurance carrier Travelers has grown the size of its main Northeast Property Catastrophe Excess-of-Loss Reinsurance coverage by $100 million at the July 1st, 2022, reinsurance renewals, as the firm saw price increases aligned with those seen on its inwards book. For 2022, the Northeast Property Catastrophe reinsurance agreement sees ... Read the full article

Travelers Q2 income sinks 41% to $551m

21st July 2022

US primary insurer Travelers has reported net income of $551 million for the second quarter of 2022, which represents a 41% decrease on the $934 million recorded in the same period last year. Travelers explained that its core income decreased primarily due to higher catastrophe losses, lower net investment income and ... Read the full article

Materiality of ESG factors beneficial for insurers

28th June 2022

Environmental, social and governance (ESG) factors are material for insurers to consider, act on, and transparently report according to panellists speaking at the S&P insurance conference. Yafit Cohn, chief sustainability officer, and group general counsel for The Travelers Cos. Inc., and Maryam Golnaraghi, director of climate change and environmental topics at ... Read the full article

Travelers erodes almost 9% of aggregate reinsurance retention

20th April 2022

US primary insurer Travelers reported that it’s eaten through almost 9% of its catastrophe aggregate reinsurance retention in the first-quarter of 2022, as the firm accumulated $175 million of qualifying losses. Back at the January reinsurance renewals, Travelers shrunk its aggregate coverage, with tighter terms due to market conditions and ... Read the full article

Travelers reports rise in net income as combined ratio strengthens in Q1

19th April 2022

US primary insurer Travelers has reported an underwriting gain of $659 million for the first-quarter of 2022 and a combined ratio of 91.3%, as losses from catastrophes, net of reinsurance, fell by $675 million from the comparable prior year period. The carrier's underwriting result improved by $442 million, year-on-year, as catastrophe ... Read the full article

Travelers acquires assets of insurtech Trōv

25th February 2022

US primary insurer Travelers has acquired assets of Trōv Technology, a provider a software designed to help brands deploy modern P&C insurance solutions in home, renters, auto, pet, small business and mobility. With this transaction, most members of Trōv's team have also joined Travelers, and will be positioned within Travelers' Personal ... Read the full article

Lorraine Seib to lead Vantage Group’s US excess casualty business

20th January 2022

Vantage Group Holdings has appointed Lorraine Seib to lead its US Excess Casualty Insurance business. Seib brings years of experience within commercial insurance and excess risk and in primary commercial lines, RPGs and MGAs. She previously led the Excess Casualty business at Aspen Insurance Group, XL Catlin Insurance Company, and Travelers Insurance, ... Read the full article

Travelers shrinks agg reinsurance at renewal after depleting 2021 cover

20th January 2022

US primary insurer Travelers has disclosed details of its reinsurance renewals for 2022, which include expansions to its corporate catastrophe cover but reductions to its aggregate cover, following the exhaustion of this program last year. Travelers reported record net income of £1.33 billion in the fourth quarter of 2021, but ... Read the full article

Travelers reports record Q4 net income, but exhausts agg reinsurance

20th January 2022

The Travelers Companies has today reported its net income of $1.3 billion for the fourth quarter of 2021, which was driven by higher net investment income and a higher underlying underwriting gain. At $1.333 billion, the insurer’s net income hit a record number in comparison to $1.31 billion which was reported ... Read the full article

Q4 cats thought to have triggered Travelers agg reinsurance recoveries

14th January 2022

Analysts are anticipating that Travelers will have made further recoveries under its catastrophe aggregate reinsurance program during the fourth quarter of 2021. There appears to be consensus among figures at Bloomberg, KBW and Morgan Stanley that the US primary insurer’s Q4 results – due next week – will reveal further aggregate ... Read the full article

Travelers reports net income of $662m; record net written premiums

19th October 2021

The Travelers Companies, Inc. has reported net income of $662 million, core income of $655 million, and record net written premiums (NWP) of more than $8.3 billion for the third quarter of 2021, despite a rise in catastrophe losses to $501 million, net of reinsurance. Although still solid, the insurer's net ... Read the full article