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Economic losses caused by wind, storm surge, and inland flood from Hurricane Harvey could be as high as U.S. $70-90 billion, according to data provider RMS. 31 August 2017
Insurance
French chemicals producer Arkema warned on Aug. 30 that its Crosby, Texas facility which makes organic peroxides is likely to explode and cause a subsequent intense fire. 31 August 2017
Insurance
Based on a company specific loss analysis, Hurricane Harvey is not “the catastrophe” the industry has been waiting for that could reverse pricing declines in the ultra-soft commercial property market, Credit Suisse analysts said in an Aug. 29 note. 30 August 2017
Insurance
The Property Casualty Insurers Association of America has called on the US Congress to pass an extension of the National Flood Insurance Program (NFIP). 30 August 2017
Insurance
The US property/casualty (P&C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, a deterioration from the loss of $2.0 billion in the prior year period, according to ratings agency AM Best. 30 August 2017
Insurance
Munich Re and Swiss Re may face the biggest losses from Harvey among the companies covered by Bernstein analysts, according to an Aug. 30 report. 30 August 2017
Insurance
Re/insurance broker Aon has launched a flood coverage for organisations impacted by Hurricane Harvey, which made landfall on the Texas Gulf coast causing massive flooding in the region. 30 August 2017
Insurance
Re/insurer XL Catlin has expanded its US Southeast regional broker and client management unit by hiring Arden Young as its new client distribution leader. 30 August 2017
Insurance
Bermuda-based Partner Re has changed its strategy after its acquisition by Italian investment company EXOR, repositioning the reinsurer and refocussing its brand and offering, CEO Emmanuel Clarke told Intelligent Insurer. 30 August 2017
Insurance
Emmanuel Clarke, chief executive officer of PartnerRe, explains to Intelligent Insurer how he is building on the stability achieved through private ownership by Exor to create secure, long-term partnerships with cedants. 29 August 2017
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