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Insurance
Tropical cyclones in September have cost the global economy over $4 billion dollars, according to Impact Forecasting’s Global Catastrophe Recap report. 7 October 2016
Insurance
Private property/casualty insurers in the US reported a $1.5 billion net underwriting loss in the first half of 2016, the first year-to-date net underwriting loss in more than three years, and saw their net income after taxes drop to $21.7 billion in the first half of 2016 from $31 billion year-on-year. 6 October 2016
Insurance
Deal volumes in mergers and acquisitions (M&A) are likely to be lower this year as merger activity takes a break because the industry is focusing on developing strategies and rebalancing portfolios in line with Solvency II rules. But there are many reasons to believe that activity is going to pick up again soon. 6 October 2016
Insurance
In the current challenging soft market and low interest rate environment, large re/insurance companies are in an advantageous position as they can better absorb the pressure and find alternative income sources. Search for scale is therefore likely to drive M&A activity in the coming years, Intelligent Insurer reports. 6 October 2016
Insurance
American International Group (AIG) has appointed Peter Solmssen as executive vice president (EVP) and general counsel, effective October 18. 6 October 2016
Insurance
Willis Re has appointed Printhan Sothinathan as managing director, head of Willis Re Specialty Analytics, effective January 2017. 5 October 2016
Insurance
Hurricane Matthew, which battered Haiti with heavy rain, winds and storm surge as it made landfall to the west of Les Cayeson on October 4, is expected to pass through the Bahamas and reach the US east coast by Thursday morning (October 6). 5 October 2016
Insurance
Hub International Limited (Hub), a global insurance brokerage, has acquired Sweet & Baker Insurance Brokers (Sweet & Baker), a multi-line insurance solutions provider based in San Francisco. 4 October 2016
Insurance
Munich Re/HSB Ventures, the corporate venture capital arm of Munich Re, has made an investment in an insurtech start-up company set to launch the first on-demand insurance platform, to support the on-demand economy. 4 October 2016
Insurance
InsurTech analytics company Praedicat has released a new liability insurance risk modelling platform, which it claims will allow insurers to use so-called forward-looking modelling. 4 October 2016
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