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Validus reports combined ratio of 201% for Q3, loss of $250m

Intelligent Insurer News - 27 October, 2017 - 09:37
Bermuda-based Validus Holdings said on Oct. 26 that it reported a net loss attributable to shareholders of $250.4 million for the three months ended September 30, 2017.

Lloyd’s gives ‘in principle’ approval to Barbican sponsored Toa Re SPA

Intelligent Insurer News - 27 October, 2017 - 09:37
Japan-based Toa Reinsurance Company (Toa Re) and Barbican Insurance Group said on Oct. 27 that they have received ‘in principle’ approval from the Lloyd’s Franchise Board to establish Toa Re Special Purpose Arrangement (SPA 6132) to be backed exclusively by Toa Re.

RGA reports ‘exceptionally good’ Q3: CEO Anna Manning

Intelligent Insurer News - 27 October, 2017 - 09:35
Reinsurance Group of America (RGA) said on Oct. 26 that it reported third-quarter net income of $227.6 million, up from $198.7 million in the same period a year ago.

EC initiates investigation proceedings against Willis, other brokers

Intelligent Insurer News - 27 October, 2017 - 09:35
Broker Willis Towers Watson said on Oct. 26 that the European Commission (EC) in October 2017 initiated investigation proceedings in respect of a suspected infringement of EU competition rules involving several broking firms, including the company’s principal UK broking subsidiary and one of its parent entities.

Beazley taps XL Catlin and Zurich execs for specialist lines

Intelligent Insurer News - 27 October, 2017 - 09:35
Specialist insurer Beazley has expanded its international specialty lines team with the appointment of Estefania Taboada and Ana Misol as financial lines underwriters in Barcelona.

QBE appoints interim CEO for Australian and New Zealand operations

Intelligent Insurer News - 27 October, 2017 - 09:34
QBE Insurance has appointed Inder Singh, currently chief financial officer of its Australian and New Zealand Operations (ANZO), as interim ANZO CEO.

Talanx large losses exceed 2017 budget after 9 months, expects Q3 loss

Intelligent Insurer News - 27 October, 2017 - 09:34
The Talanx Group which includes Hannover Re and HDI said on Oct. 27 that large losses in the first 9 months of 2017 have exceeded the full year budget and that it expects to report a loss in the third quarter.

JLT takes part in aviation insurance investigation

Intelligent Insurer News - 27 October, 2017 - 09:34
Broker Jardine Lloyd Thompson Group (JLT) said on Oct. 26 that the European Commission (EC) has initiated an investigation into the aviation insurance sector following the UK Financial Conduct Authority’s (FCA’s) discontinuation of its investigation.

Markel posts $259m net loss in Q3

Intelligent Insurer News - 26 October, 2017 - 11:51
Specialty insurer Markel has reported on Oct. 25 that it made a net loss of $259.1 million in the third quarter of 2017 attributable to shareholders.

Arch strikes $368m indemnity ILS reinsurance deal

Intelligent Insurer News - 26 October, 2017 - 11:23
Bermuda-based Arch Capital Group said on Oct. 25 that its mortgage insurance (MI) business obtained $368 million of indemnity reinsurance from Bellemeade Re 2017-1, a special purpose insurer.

The outcome of Irma

Intelligent Insurer News - 26 October, 2017 - 11:12
Hurricane Irma will test the infrastructure and financial wherewithal of some insurers doing business in Florida, particularly newcomers, as Chris Draghi and Michelle Baurkot of AM Best explain.

Estimated property losses for 2016 Italy earthquakes jump

Intelligent Insurer News - 26 October, 2017 - 11:03
The final loss estimate for the series of earthquakes which impacted Central Italy between 26 and 30 October 2016 has been revised upwards by data provider PERILS.

Present in times of catastrophe

Intelligent Insurer News - 26 October, 2017 - 10:51
The 2017 hurricane season could be a defining moment for Bermuda. Greg Wojciechowski of the Bermuda Stock Exchange outlines why this Atlantic storm season may define Bermuda’s role in the world for years to come.

The Great Brexit Breakaway

Intelligent Insurer News - 26 October, 2017 - 10:00
UK-based re/insurers are weighing up their options in terms of where they domicile to carry on writing onshore European business. But where should they locate themselves? Intelligent Insurer investigates.

Munich Re to post €1.4bn loss in Q3, reveals nat cat losses

Intelligent Insurer News - 26 October, 2017 - 09:23
Munich Re is expecting a third-quarter loss of €1.4 billion owing to exceptional major-loss expenditure while projecting a small profit for the full year 2017.

AXIS posts $468m loss in Q3

Intelligent Insurer News - 26 October, 2017 - 09:17
Bermuda-based AXIS Capital Holdings said on Oct. 25 that the company made a net loss attributable to common shareholders of $468 million in the third quarter of 2017.

SCOR makes loss in Q3 due to nat cat hit

Intelligent Insurer News - 26 October, 2017 - 08:49
French reinsurer SCOR said on Oct. 26 that it posted a net loss of €267 million in the third quarter of 2017 due to the impact of natural catastrophes.

ILS: London can find its feet

Intelligent Insurer News - 25 October, 2017 - 14:00
As London takes the first steps towards being able to issue its own ILS deals, Intelligent Insurer assesses the potential of the new ILS framework and discovers that some market participants are bullish about its ability to gain traction quickly.

Hurricane losses hit XL’s Q3 results hard

Intelligent Insurer News - 25 October, 2017 - 11:13
Heavy losses mainly from hurricanes Harvey, Irma and Maria hit the results of the XL Group hard in the third quarter – the re/insurer posting a sizable loss. But the company also enjoyed positive growth in the period.

AIG hires former Connecticut insurance commissioner

Intelligent Insurer News - 25 October, 2017 - 11:08
American International Group (AIG) has appointed former Connecticut insurance commissioner Thomas Leonardi as executive vice president, government affairs, public policy and communications.

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