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Alternative Risk Transfer
Risk modelling firm RMS has opened a new office in Sydney, Australia. The company said the move is part of its drive to support clients’ expansion in the Australian and New Zealand markets. 31 October 2017
Insurance
A new earthquake and tsunami model for Japan being developed by Impact Forecasting, the catastrophe modelling development centre of Aon Benfield, will differentiate itself from other models in the region in the way it tackles earthquake occurrence probability in the Nankai Trough, a submarine trough located south of the Nankaidō region of Japan’s island of Honshū. 31 October 2017
Insurance
Bermuda-based Blue Capital Reinsurance Holdings reported a combined ratio of 455.7 percent for the third quarter of 2017, a significant deterioration compared to the 63.5 percent recorded in the same period a year ago. 31 October 2017
Insurance
SafeWaters Underwriting Managers is expanding its capacity for yacht insurance with support of Everest National Insurance Company. 31 October 2017
Insurance
Lloyd’s Market Association (LMA) in cooperation with the International Underwriting Association (IUA) sealed a deal with DXC Technology for the provision of bureau services that will save the Lloyd’s and the London market £100 million over the next five years, according to an Oct. 31 statement. 31 October 2017
Insurance
After 24 years at Aon Benfield, among others as chief operating officer Asia Pacific client services, Peter Mungeam is leaving the broker on Oct. 31 to work for consultancy firm r10 Consulting and his own creation Bubblegum Consulting. 31 October 2017
Insurance
Commercial insurer RSA has appointed Jeroen den Tex as commercial director, Europe, responsible for developing the sales, marketing and distribution strategy across RSA’s five European operations, Nordic Hull and the Dubai International Financial Centre (DIFC). 31 October 2017
Insurance
Although earthquake risk in Japan is relatively well understood and the industry performed well in the aftermath of the last big quake to hit the country, in 2011, more must be done to tackle the protection gap (the difference between the economic loss and the insured loss) and the extent to which insurance is used to protect certain risks. 30 October 2017
Insurance
Ironshore said on Oct. 30 that it appointed three executives to underwrite specialty casualty risk in the US and the London Market. 30 October 2017
Insurance
Fitch Ratings has reduced the outlook for Cayman Islands-based XL Group subsidiary XL (XLIT) and its property/casualty re/insurance subsidiaries to negative after “a meaningful deterioration in capitalization” following third-quarter nat cat losses. 30 October 2017
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