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Updated: 4 min 6 sec ago

Markel reveals investigation into CATCo loss reserves

7 December, 2018 - 09:21
Markel Corporation has confirmed that it is fully cooperating with inquiries by US and Bermuda authorities into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management and its subsidiaries.

XL Group upgraded by AM Best following AXA takeover

7 December, 2018 - 09:13
AM Best has removed from “under review with developing implications” and upgraded the credit ratings of XL Group.

Enstar invests $200m in AmTrust parent company

7 December, 2018 - 07:30
Bermuda-based Enstar has completed an investment of $200 million in Evergreen Parent, the entity that has been used to take AmTrust Financial Services private and holds its equity.

California wildfires may no longer be ‘secondary peril’

7 December, 2018 - 06:57
As the US wildfire costs exceed $10 billion in 2018 for the second year running, wildfires may no longer be a secondary peril, Steve Bowen, Impact Forecasting director and meteorologist at Aon, has suggested.

Global reinsurance outlook upgraded by AM Best

6 December, 2018 - 16:27
AM Best has revised its market segment outlook for the global reinsurance industry to stable from negative for 2019.

Liberty merges, rebrands Ironshore Bermuda

6 December, 2018 - 16:16
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group is integrating its Ironshore Bermuda businesses and rebrands it as Liberty Specialty Markets Bermuda.

California Camp fire insured losses at up to $9bn: AIR

6 December, 2018 - 16:15
Industry insured losses from the Camp Fire in Northern California will be between $6 billion and $9 billion, according to estimates by catastrophe risk modelling firm AIR Worldwide.

VIBE Re poaches AXIS Re veteran for first CEO

6 December, 2018 - 16:15
Richard Milner, formerly president and chief underwriting officer of AXIS Re London & Asia-Pacific has joined VIBE Reinsurance (VIBE Re) as its first CEO.

Swiss Re Corp Solutions appoints new global casualty, E&S leaders

6 December, 2018 - 16:13
Swiss Re Corporate Solutions has appointed new leaders for its global casualty and excess & surplus (E&S) North American business lines.

Insurtech Concirrus hires new COO from Marsh

6 December, 2018 - 16:10
London-based insurtech company Concirrus has appointed Nick Roscoe as its chief operating officer (COO) as it looks to drive change through the adoption of technology in the marine insurance market.

Brokerslink CEO resigns with immediate effect

6 December, 2018 - 11:07
Jacqueline Legrand has resigned from her position as CEO of global broking network Brokerslink with immediate effect.

Beazley expects $40m California wildfire hit

6 December, 2018 - 11:07
Specialty insurer Beazley expects the cost of claims arising from the 2018 California wildfires to be around $40 million, net of reinsurance.

Ed hires cat modelling specialist from Willis Re

6 December, 2018 - 11:00
Reinsurance, wholesale and specialty broker Ed has hired Willis Re executive Jo Kendall as head of catastrophe and exposure management.

Prem Watsa’s Fairfax takeover of ITI Reinsurance blocked by regulator: Report

6 December, 2018 - 10:54
The Insurance Regulatory Authority of India (IRDA) has rejected the proposal of Prem Watsa-owned Fairfax India Holdings to acquire India-based reinsurance firm ITI Reinsurance, according to a December 4 report by the Indian Express.

AIG expects up to $800m cat loss in Q4

6 December, 2018 - 09:16
American International Group (AIG) is expecting natural catastrophes to cost the insurer between $750 and $800 million pre-tax, CEO Brian Duperreault said during a Dec. 5 Goldman Sachs US Financial Services Conference.

QBE sees trade credit cover demand surge in the UK

5 December, 2018 - 15:14
Brexit uncertainty, mounting costs and increased competition are exposing British businesses to greater levels of trading risk which by turn is increasing demand for trade credit cover, according to QBE.

London Market needs EU equivalence regime change in Brexit deal: LMG

5 December, 2018 - 15:02
The UK government has recognised that the London Market does need to see significant changes to the EU equivalence regime but there are no equivalence frameworks for insurers under Solvency II or for brokers under the Insurance Distribution Directive, said Clare Lebecq, CEO of the London Market Group (LMG).

The Hartford expects up to $365m cat hit in Q4

5 December, 2018 - 15:02
US-based property/casualty insurer The Hartford expects an impact of $350 million to $365 million pre-tax, primarily from the Camp Fire in northern California, in the fourth quarter of 2018.

MetLife Japan CEO Shah departure causes leadership reshuffle

5 December, 2018 - 15:01
Insurer MetLife has appointed new leaders for Japan and the EMEA region following the departure of Sachin Shah, chairman, president and CEO of MetLife Japan.

Zurich tackles commercial operations in North America

5 December, 2018 - 11:16
Zurich Insurance Group wants to improve the performance of its commercial insurance business in North America in order to lower the combined ratio of its overall operations in the region.

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