Articles

Insurance

California Woolsey fire contained, Camp fire to 95%

The Camp fire in Northern California, officially deemed the most destructive and deadliest wildfire on record in the state, is contained to 95 percent while the Woolsey fire in Southern California is now fully extinguished, according to the California Department of Forestry and Fire Protection (Cal Fire).   23 November 2018

Alternative Risk Transfer

Markel CATCo reserves for hurricane Michael, typhoon Jebi, warns over 2017 loss creep

Markel CATCo Investment Management has implemented a specific loss reserve to cover the 2018 events hurricane Michael and typhoon Jebi and has warned over potential California wildfire losses and a loss creep from 2017 nat cat events.   22 November 2018

Insurance

AXA receives $1.8bn from US life unit stake sale

AXA has completed a secondary common stock offering of its US life and asset management business Equitable Holdings (EQH) for net proceeds of $1.8 billion.   21 November 2018

Insurance

Liberty Mutual shakes up excess casualty unit

Property/casualty insurer Liberty Mutual is realigning its excess casualty operations and increasing its capacity to $100 million.   21 November 2018

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

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