Citizens to lift rates by 8.2% in 2019
The board of governors of Florida-based Citizens Property Insurance Corporation has approved a statewide 2019 rate increase of an average of 8.2 percent for personal lines policyholders – homeowners, condominium owners and renters.
Starr Insurance expands aviation to Brazil
Starr Insurance Companies’ Brazilian subsidiary, Starr International Brasil Seguradora, has been granted a local license to offer aviation insurance.
Brit creates ransom offering
Fairfax-owned specialty insurer Brit has partnered with crisis law firm Schillings Critical Risk to create a comprehensive kidnap for ransom offering.
NN Group merges life and non-life in the Netherlands
NN Group has obtained approval from its regulator De Nederlandsche Bank (DNB) to execute the legal mergers of Delta Lloyd Life into NN Life and Delta Lloyd Non-life into NN Non-life.
Allstate cat losses at $685m in November
US personal lines insurer Allstate Corporation has estimated catastrophe losses for the month of November 2018 at $685 million, pre-tax ($541 million, after-tax), driven by the Camp and Woolsey fires in California.
Brazil reinsurance market placed on negative outlook by AM Best
AM Best has placed a negative market segment outlook on Brazil’s reinsurance market, citing persistent macroeconomic and political uncertainty; a declining interest rate environment, which has led to lower investment income; foreign exchange fluctuations; and evolving reinsurance market conditions.
AXIS hires senior cyber underwriter from Markel
Bermuda-based AXIS Insurance, a unit of AXIS Capital Holdings has hired Andrew Maher as senior cyber underwriter, effective immediately.
Fires, explosions cause largest commercial claims: AGCS
Fire and explosion incidents cause the largest claims for insurers and the businesses they cover, according to new research from Allianz Global Corporate & Specialty (AGCS).
S&P rewards AXIS for strategic changes post Novae deal
S&P Global Ratings has rewarded strategic changes made by AXIS Capital, which include reducing its exposure to legacy liabilities generated by the Novae Group, by revising its outlook on the company’s ratings to stable from negative.
California wildfires will cost insurers $9bn: insurance commissioner
The recent wildfires in California will cause some $9 billion in insured losses, making them the deadliest and costliest wildfire catastrophes in California's history, according to California’s insurance commissioner Dave Jones.
