Articles

Alternative Risk Transfer

Markel closes Nephila acquisition

Markel Corporation has completed its acquisition of Nephila Holdings, the biggest insurance-linked securities (ILS) manager in the world.   15 November 2018

Insurance

Losses from Californian wildfires reach $3-6bn: Moody’s

P&C insurers face large claims from devastating California wildfires as losses are estimated to have reached between $3 and $6 billion, according to Moody’s.   14 November 2018

Insurance

AIG rebrands legacy reinsurance unit following Carlyle Group deal

American International Group (AIG) has renamed its legacy reinsurance portfolio DSA Re as Fortitude Group Holdings (Fortitude Re) following the completion of an acquisition of a 20 percent stake in the unit by private equity firm Carlyle Group.   14 November 2018

Insurance

Nationwide insurance to cut 1,100 US jobs

Ohio-headquartered Nationwide Mutual Insurance Company is reducing its workforce by 1,100 positions in the US and will start laying off about 80 workers at its downtown Des Moines location, according to several regional news publications.   14 November 2018

Insurance

California wildfires to cause record losses: AM Best

Wildfire losses in California will reach record levels in 2018 after three different fires erupted in November and will force insurers to re-price and reassess their California exposures, according to AM Best estimates.   14 November 2018

Insurance

QBE sells Farmers Union business to National General

Specialist insurer QBE North America is selling its Farmers Union Insurance business to National General Holdings as part of its strategy to reinforce focus on its core offerings and improve future earnings profile.   14 November 2018

Insurance

Everest hires from OneBeacon, Starr for private/not-for-profit group

Everest Insurance has hired OneBeacon and Starr executives for its Everest Specialty Underwriters Private Company/Not-for-Profit group.   14 November 2018

Insurance

Trend to bespoke products drives AFL into Zodiac acquisition

A trend toward bespoke insurance products driven by available technology and data is one of the reasons why Lloyd’s broker AFL Insurance Brokers decided to acquire US-based Zodiac Insurance Services, AFL CEO Bob Finch, told Intelligent Insurer.   13 November 2018

Insurance

California fires risk $18bn property reconstruction cost

The Camp and Woolsey fires in Northern and Southern California are putting 48,390 homes at high or extreme risk of wildfire damage with a total reconstruction cost value (RCV) of approximately $18 billion, according to data provider CoreLogic.   13 November 2018

Insurance

Marsh combines specialty unit with JLT, reshuffles management

Marsh is combining the specialty teams of Marsh and Jardine Lloyd Thompson Group to create the Marsh-JLT Specialty unit, effective upon closing of the transaction between Marsh’s parent company, Marsh & McLennan Companies (MMC) and JLT.   13 November 2018

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