trending Market Intelligence /marketintelligence/en/news-insights/trending/fjemkqzzokmpwmskebjzha2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Insurer Lancashire forecasts Q3 loss on marine, nat cat claims

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February


Insurer Lancashire forecasts Q3 loss on marine, nat cat claims

Shares in London-listed insurer Lancashire Holdings Ltd. fell sharply the morning of Oct. 8 after it forecast a third-quarter loss on the back of marine and natural catastrophe claims.

The company disclosed estimated net losses of about $30 million in its marine portfolio and forecast between $25 million and $45 million of so-called attritional losses — or accumulated smaller claims — related to Hurricane Florence in the U.S. and typhoons Jebi, Mangkhut and Trami in Asia-Pacific. It said both estimates are after anticipated recoveries from its own reinsurance program and include aggregate exposures through its Bermuda, U.K. and Lloyd's of London operations.

Shares in Lancashire opened down almost 10% in Oct. 8 trading and were off 6.2% as of just before 10 a.m. London time, representing the sharpest fall at that stage among companies traded on the London Stock Exchange.

The company, headquartered in London with a registered office in Bermuda, said it expects to remain profitable for the nine-month period ended Sept. 30, and said that absent the events it disclosed, it would have been profitable in the third quarter. Its first-half after-tax profit attributable to the company was $75.8 million.

Lancashire also said its preliminary loss estimates were derived from a combination of market data and assumptions, limited provisional loss advice and client loss data, and modeled loss projections. It noted, therefore, that its actual ultimate loss may vary from its preliminary estimates, and added that the settlement of all claims is likely to occur "over a considerable period of time."

Lancashire's exposure to hurricane and typhoon risks falls within its property retrocession, property reinsurance and property direct and facultative lines, and its cargo, marine and energy classes.