Ogden rate cut pushes QIC to P&C underwriting loss

Qatar Insurance Company (QIC) Group fell to an underwriting loss in
its non-life business in the first half of the year amid an
"ultra-soft underwriting environment" and a $31mn reserve
charge stemming from the Ogden rate change in the UK.
The company's non-life combined ratio deteriorated by 4.6
percentage points year-on-year to 101.5 percent in the six months
to 30 June 2017.
QIC strengthened its motor reserves by $31mn as a result of the
February decision to slash the UK...