Reinsurance
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The storm is forecast to bring heavy winds and storm surges of between two and four feet to the mouth of the Mississippi.
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The deal will also see $1.3bn of legacy reinsurance liabilities sold to the run-off acquirer.
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The Apollo-backed legacy player is close to a deal to take on past liabilities of $1.1bn third-party book.
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The performance represented an improvement from the 6.8% the industry produced in the same 2017 period.
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The ceiling is just $10mn more than Aspen’s Q3 cat losses
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Allied World Re has promoted Yeo Meng Wong from an underwriting role to senior vice president and general manager.
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The Japanese company will have 51 percent of the new entity but just one board seat.
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One analyst believes buying the provider of employee identity protection will help the auto insurer diversify.
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Californians have had a steady diet of wildfires this summer, but something else in the state is burning insurers up.
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More than 19-inches of rain fell on the northeast of Hawaii's Big Island in a 24-hour period.
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The storm may reach the state’s Big Island as a Cat 3 hurricane later today.
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The Florida company is one of several smaller, reinsurance-dependent carriers within the State Farm-dominated Hawaiian market.
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