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Insurance
AXIS Capital Holdings has said its preliminary pre-tax loss estimate for Hurricane Michael will be in the range of $100 million to $120 million, net of estimated recoveries from reinsurance and retrocessional covers and including the impact of estimated reinstatement premiums. 9 November 2018
Insurance
The LMA Wordings Forum has revealed it has drafted a ‘cold zone variant’ of its model exclusion wording, which would make it easier for underwriters to cover construction projects in the nuclear sector, a move prompted by recent growth in the construction of nuclear power stations and a requirement to make wordings more appropriate for the nuclear industry of the future. 14 March 2017
Insurance
UK motor insurer Admiral Group grew profits and turnover in the first half of 2018 as its core business delivered. 15 August 2018
Insurance
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, intends to redomicile its insurance company from the UK to Luxembourg. 8 December 2017
Insurance
Barbican Insurance Group has appointed Emma Watson as class underwriter for property treaty from CNA Hardy. 4 December 2018
Insurance
Tensorflight, an artificial intelligence insurtech start-up that uses machine learning and geospatial imagery to help P&C insurers better assess risks and understand portfolio exposures, has closed a $2 million financing round led by insurance industry investors HSCM Bermuda and Nephila. 24 June 2019
Insurance
UK insurers will breathe a sigh of relief if a Covered Agreement between the UK and the US is in place by December—and it appears that Congress has the desire to make this happen, Robert Gordon, PCI’s senior vice president, policy, research and international, told PCI Today. 29 October 2018
Insurance
Validus Specialty, a member of American International Group (AIG), has hired a senior JLT executive to lead its US political risk and credit insurance team based in New York. 6 November 2018
Insurance
Bermuda-based Everest Re Group is expecting to incur fourth quarter 2018 catastrophe losses of $695 million, net of reinsurance, reinstatement premiums and taxes. 25 January 2019
Insurance
The US National Flood Insurance Program’s (NFIP’s) reinsurance purchase in 2017, in which many European reinsurers participated, represented a good deal for the US government and it should look to purchase more limit in 2018. 23 October 2017
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