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Insurance
Bermuda-based Argo Group, an international underwriter of specialty insurance and reinsurance, has appointed Manuel Moreno to the newly created position of chief underwriting officer (CUO) of Latin America. 23 July 2018
Insurance
The Federal Emergency Management Agency (FEMA) warned over the consequences if the US congress fails to reauthorise the National Flood Insurance Program (NFIP) that will expire on July 31, 2018. 23 July 2018
Insurance
Specialty re/insurer Brit has appointed Tony Medniuk as non-executive chairman of its Lloyd’s managing agent Brit Syndicates, which is responsible for managing Syndicates 2987 and 2988. 23 July 2018
Insurance
Capsicum Delegated Authority (Capsicum DA), a specialist binding authority broker, has hired David Doe from Lloyd's broker Tysers to establish a new professional liability specialism. 23 July 2018
Insurance
A mid-June storm affecting parts of Saskatchewan and Manitoba resulted in more than C$90 million ($68.4 million) in insured damage, according to data from Catastrophe Indices and Quantification. 23 July 2018
Insurance
US specialty insurer RLI Corporation was impacted by a $5.5 million net decrease to underwriting income in the second quarter due to volcanic activity in Hawaii, and chief operating officer Craig Kliethermes explained during the results conference call that there is no reinsurance cover available for such catastrophe events. 23 July 2018
Alternative Risk Transfer
US-based property/casualty insurer Travelers has increased its catastrophe bond coverage to take advantage of the favourable pricing environment while reducing traditional reinsurance purchase, Travelers chief financial officer Jay Benet said during the second quarter 2018 conference call. 23 July 2018
Insurance
Property/casualty insurer Travelers saw catastrophe losses rise by $85 million pre-tax year on year to $488 million in the second quarter of 2018, impacting the results in the quarter. 19 July 2018
Insurance
Specialty re/insurer Brit has hired XL Group and MS Amlin senior executives for its newly launched Bermuda-domiciled collateralised reinsurance platform, Sussex Capital. 19 July 2018
Insurance
AXIS Insurance, a business segment of Bermuda-based AXIS Capital Holdings, has promoted Brad Randell to head of Canada insurance and chief agent, Canada. 19 July 2018
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