Articles
Insurance
A jury verdict has awarded property/casualty re/insurer Fairfax Financial Holdings damages of $10.9 million against Exis Capital Management and related Exis companies, Adam Sender and Andrew Heller, according to a corporate statement. 17 October 2018
Insurance
US motor insurer Progressive is expecting a loss of up to $120 million from hurricane Michael. 17 October 2018
Insurance
US-based Marsh & McLennan Companies (MMC) has received the approval of the Federal Trade Commission to acquire UK-based Jardine Lloyd Thompson Group (JLT). 16 October 2018
Insurance
FedNat Holding Company estimates that its aggregate gross losses as a result of hurricane Michael will be approximately $275 million, the bulk of which will be covered by reinsurance. 16 October 2018
Insurance
Industry insured losses resulting from hurricane Michael’s winds and storm surge will range from $6 billion to $10 billion, according to estimates by catastrophe risk modelling firm AIR Worldwide. 16 October 2018
Insurance
Private US property/casualty (P&C) insurers saw their net income after taxes more than double to $34 billion in first-half 2018 from $15.5 billion in first-half 2017, according to Verisk’s ISO and the Property Casualty Insurers Association of America (PCI). 16 October 2018
Insurance
JLT Group has hired a senior executive from Starr to expand its facultative business in North America, based in JLT Fac’s New York office. 16 October 2018
Insurance
Property/casualty (P&C) group Cincinnati Financial Corporation expects its third-quarter 2018 results to include pre-tax catastrophe losses of approximately $120 million. 15 October 2018
Insurance
Insured residential and commercial storm surge and wind losses from hurricane Michael are estimated at between $3 billion and $5 billion, according to an update by data provider CoreLogic. 15 October 2018
Insurance
Marsh & McLennan’s acquisition of JLT has been on the cards for some time. While the two players complement each other in many areas, Marsh has taken on a lot of debt to finance the deal—which may cause it problems. Intelligent Insurer reports. 12 October 2018
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