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Insurance

Insurers’ exposure limited in PG&E wildfire investigation: AM Best

The US insurance industry has only limited exposure to PG&E Corporation, the California utility whose equipment is being investigated as having a potential role in the deadly Camp Fire, according to AM Best.   21 November 2018

Insurance

Chubb, Travelers lead California wildfire loss table: KBW

Chubb and Travelers are expected to bear the highest losses from the wildfires in north and south California, according to KBW research.   20 November 2018

Insurance

Californian wildfires to hit P&C Q4 results: Fitch

Losses from the ongoing California wildfires will likely negatively impact fourth-quarter earnings of companies with material property exposure in the state, Fitch Ratings said.   20 November 2018

Insurance

Plug and Play invests in AI insurtech startup Betterview

Silicon Valley-based Venture capital firm Plug and Play Ventures has invested in California-based artificial intelligence (AI) startup Betterview.   20 November 2018

Insurance

Willis Towers Watson reveals new chair succeeding McCann

Willis Towers Watson has appointed Victor Ganzi as new chairman of the board, succeeding James McCann who is completing his three-year term at the end of the year.   20 November 2018

Insurance

Run-off specialist DARAG consolidates move into North America with acquisition

Run-off specialist DARAG has completed the acquisition of SOBC Services, a company focused on the sourcing, acquisition and management of insurance entities and portfolios in run off in the US, Bermuda and Caribbean.   20 November 2018

Insurance

California wildfire losses to reach up to $13bn: RMS

Insured losses from The Camp and Woolsey Wildfires are expected to reach between $9 billion and $13 billion, according to data provider RMS.   19 November 2018

Insurance

California wildfire property reconstruction may cost $8.6bn

Within the perimeters of the Camp Fire in Northern California and the Woolsey Fire in Southern California 23,044 homes with a total reconstruction cost value (RCV) of approximately $8.6 billion are at high or extreme risk of wildfire damage, according to CoreLogic estimates.   19 November 2018

Insurance

Sompo benefits from lower nat cats overseas in 6M results

Japanese insurer Sompo benefitted from lower losses from natural catastrophes in North America in the six months ended Sept. 30, 2018 compared to the same period a year ago.   19 November 2018

Insurance

California wildfires earnings event for re/insurers: S&P

S&P Global Ratings expects the insured losses from wildfires in northern and southern California to be contained as an earnings event and for the reinsurance sector to be able to absorb the impact from these fires as well as recent hurricanes although catastrophe budgets will be strained.   19 November 2018

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