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Insurance
Momentum for rate increases on loss-free reinsurance accounts dissipated during the June/July property catastrophe renewals, and in some cases, pricing declined, according to Willis Re. 2 July 2018
Insurance
Specialty re/insurer Brit has appointed Mark Richards as senior vice president, general liability for Brit Global Specialty USA (BGSU). He joins from Navigators Group. 2 July 2018
Insurance
Insurtech firm REIN has raised $7.3 million in venture funding and unveiled its first digital product for commercial drone operators, underwritten through Liberty Specialty Markets (LSM). 29 June 2018
Insurance
New York-based Assurant has finalised a $1.3 billion 2018 property catastrophe reinsurance programme reducing the company’s financial exposure and protecting 2.9 million homeowners and renters policyholders against severe weather and other hazards. 29 June 2018
Insurance
Privately held insurance broker Lockton recorded organic revenue growth in the US of 7.7 percent year on year in its recently completed fiscal year 2018. 29 June 2018
Insurance
Athene Holding, the life insurance affiliate of private equity firm Apollo Global Management, has expressed interest in acquiring all or parts of General Electric’s troubled long-term care insurance business, according to a Financial Times report citing two people familiar with the matter. 28 June 2018
Insurance
Validus Specialty, a subsidiary of Bermuda-based re/insurer Validus Holdings, has appointed Bob Eells as senior vice president and chief operating officer. He joins the company from XL Catlin. 28 June 2018
Alternative Risk Transfer
Bermuda domiciled Limestone Re has issued $278 million of notes to investors in a private placement transaction that provides collateralised reinsurance for Liberty Mutual’s US property catastrophe programme, as well as US homeowners and global property reinsurance risks. 28 June 2018
Insurance
The US Federal Home Loan Mortgage Corporation, Freddie Mac has auctioned off a pool of residential mortgage insurance contracts in a deal which will provide a maximum limit of up to approximately $300 million of losses on single-family loans under its Agency Credit Insurance Structure (ACIS) programme. 28 June 2018
Insurance
Insurance broker Lockton has appointed Jerry Ridge as global head of marine and energy reinsurance. 28 June 2018
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