Reinsurance
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The Ontario and Quebec storm in May was the costliest event in a year characterised by a string of mid-sized losses.
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The final estimate is marginally below July’s projection.
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The estimate is lower than Munich Re's $80bn forecast but represents the third costliest 12 months for insurers of the past eight years.
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The losses largely stem from the Camp and Woolsey wildfires and Hurricane Michael.
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The complaint on behalf of Markel investors follows the disclosure of regulatory probes into the accounting of loss reserves.
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The total of Hurricane Michael claims filed with Floridian insurers through to 11 January has reached $5.02bn, the Florida Office of Insurance Regulation said.
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The carrier has signed a deal with a unit of Groupama and the local government.
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Wildfire-exposed programmes experienced tighter capacity and increased pricing, the reinsurance broker found.
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The reinsurer pegs the large man-made loss estimate at $300mn.
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ARML writes a book of UK regional P&C business and was bought by the carrier in 2010.
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The deal is AmWins’ second MGA acquisition this month.
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Arch updated its Q4 cat estimate to $110mn to $130mn, inclusive of its prior $40mn to $60mn Michael loss.
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