Bermuda-based property/casualty re/insurer said on Sept. 19 that it decided to move its principal European Union insurance company, XL Insurance Company, from the UK to Ireland in 2018 in response to Brexit.
Integro Insurance Brokers said on Sept. 19 that it hired Keith Anderson as UK chief financial officer (CFO).
Broker Willis Towers Watson said on Sept. 19 that it appointed Albert Li as head of Hong Kong and Taiwan for its insurance consulting and technology business.
Hurricane Harvey demonstrates the need for catastrophe modelling to move beyond property losses, said Russell Group managing director, Suki Basi.
Homeowners’ re/insurance provider HCI Group said on Sept. 19 that its unit Homeowners Choice Property & Casualty Insurance Company received regulatory approval to write flood insurance in Texas.
As Hurricane Maria follows a similar path as Hurricane Irma that hit Florida on Sept. 10, investors are discounting book value hits on property/casualty stocks that are worse than the losses so far seen in the hurricane season, Credit Suisse said in a Sept. 18 analyst report.
Allianz’s Germany chief Manfred Knof will step down by the end of the year for health reasons, a spokesman for the insurance giant told Reuters on Tuesday, Sept. 19.
Specialty insurer Navigators has appointed Charles Juarbe as head of Latin America and the Caribbean for NavPro as part of its expansion plan for the unit.
Hurricane Irma has so far triggered more than 335,000 claims amounting to $2 billion, according to the Florida Office of Insurance Regulation.
Hurricane Maria, the second major storm to hit the Caribbean this month, crept toward the US Virgin Islands and Puerto Rico after it ripped through the small island nation of Dominica, causing widespread devastation, according to a Reuters report.