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Insurance
Following a review of recent years' asbestos-related claims and litigation activity and insurers' paid and incurred loss experience, Fitch has raised projection for ultimate all-time US industry incurred losses to $100 billion compared with a previous estimate of $90 billion. 16 July 2018
Insurance
New US sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country, according to a July 13 Reuters report citing chairman Bruce Carnegie-Brown. 16 July 2018
Insurance
Reinsurance broker JLT Re, a subsidiary of Jardine Lloyd Thompson Group, has appointed Guy Carpenter executive Scott MacColl as head of credit and surety for North America. 16 July 2018
Insurance
Commercial property MGA European Property Underwriting (EPUL), part of Global Risk Partners (GRP), has appointed Christopher Box to the role of senior underwriter for UK and European property owner risks. 16 July 2018
Insurance
Insurance broker Brown & Brown has acquired Portland-based Professional Disability Associates (PDA), a disability services company providing specialty claims management services. 16 July 2018
Alternative Risk Transfer
The ILS capacity brings more efficient funding into the insurance market – and managing general agents (MGAs) must also take advantage of this, Grahame Chilton, CEO of Gallagher UK, told delegates at the MGAA 2018 conference in London today (July 12). 12 July 2018
Insurance
Challenging market conditions mean the re/insurance industry is poised for yet more consolidation, but transactions will become more challenging because of the smaller pool of acquisition targets, Moody’s has claimed in a new report called ‘More M&A deals as firms seek to broaden depth, scale and market relevance’. 12 July 2018
Insurance
The net income of private US property/casualty insurers more than doubled to $17.1 billion in first-quarter 2018 from $7.9 billion in first-quarter 2017, helped by lower catastrophe losses and increased reserve releases, according to a study by ISO, a Verisk business, and the Property Casualty Insurers Association of America (PCI). 12 July 2018
Insurance
Upon closing of the acquisition of the XL Group, the AXA XL-branded unit will combine the group’s P&C commercial lines and specialty risks, AXA CEO Thomas Buberl said in a blog. 11 July 2018
Insurance
The US cyber insurance premiums expanded 37 percent year on year to $1.84 billion in 2017, according to Aon’s US Cyber Market Update report. 9 July 2018
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