Articles
Insurance
Bermuda-based Qatar Reinsurance Company (Qatar Re), a subsidiary of Qatar Insurance Company (QIC), has ceased writing new and renewal business from its branch office in Singapore from July 20. 23 July 2018
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
American International Group (AIG) has completed its acquisition of Bermuda-based Validus Holdings after receiving regulatory and shareholder approvals. 18 July 2018
Insurance
Jonathan Clark has been elected president of the Chartered Insurance Institute for 2018/2019, replacing Lloyd’s CEO Inga Beale. 18 July 2018
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