IGI

The executive said IGI is seeing similar trends in treaty rate renewals during the second quarter of the year.

The (re)insurer’s losses were driven by various cat events, including the earthquake in Turkey and flooding in New Zealand from Cyclone Gabrielle, both in February.

The Bermudian’s underwriting profit and combined ratio worsened due to an increase in claims.

Q3 reserve releases were driven by an improvement in claims developments in most lines of its long-tail unit, as well as in its energy and property lines in the short-tail book.