Articles
Insurance
PartnerRe’s third quarter results were hit hard by losses from Typhoons Jebi and Trami and Hurricane Florence as well as losses on its investment portfolio though its CEO was upbeat as its non-life unit reported an underwriting profit in the first nine months of the year. 15 November 2018
Insurance
B3i, the blockchain insurance industry initiative, is cooperating with RiskBlock Alliance in the development and setting of data standards for the insurance industry. 15 November 2018
Insurance
The financial strength ratings of Maiden Re and its US operating subsidiary Maiden Reinsurance North America have been downgraded to B++ from A- by AM Best in response to strategic changes at the company. 15 November 2018
Insurance
The Camp and Woolsey fires in California have now burned through more than 230,000 acres, destroyed more than 9,000 structures and damaged more than 150 structures since the blaze ignited on Thursday, November 8, according to AIR Worldwide. 15 November 2018
Alternative Risk Transfer
Markel Corporation has completed its acquisition of Nephila Holdings, the biggest insurance-linked securities (ILS) manager in the world. 15 November 2018
Insurance
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
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
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
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
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
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