Swiss Re said on Oct. 20 that it estimates combined losses from the hurricanes Harvey, Irma and Maria and the earthquakes in Mexico in the third quarter of 2017 to be approximately $3.6 billion, net of retrocession and before tax.
Specialist Lloyd's insurer Neon has launched an underwriting operation in partnership with Italian marine broker, Cambiaso Risso, who will have a minority shareholding in the joint venture.
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon, has appointed Leonora Siccardi as EMEA and UK head of client services.
ILS investors are raising money and preparing to make new investments despite losses from recent natural catastrophes, according to the latest Willis quarterly ILS market update.
Hannover Re is expecting significant property/casualty (P&C) rate increases, particularly in the regions affected by recent hurricanes in North America, but also elsewhere in the upcoming renewals.
The preliminary data on claims from the Californian wildfires reaches $1.05 billion in losses from commercial and residential structures, personal and commercial vehicles, and agricultural equipment, the California Department of Insurance said in an Oct. 19 press release.
Sompo Holdings said on Oct. 20 that its incurred losses from natural catastrophes in the third quarter of 2017 are estimated at ¥70 billion ($620 million) before taxes and that it is now reviewing its full-year earnings forecast.
Specialist managing general agent (MGA) Manchester Underwriting Management has appointed Dan Cooper as claims manager.
Giuseppina Albo is leaving the board of management of Munich Re at the end of 2017 to take up the position of CEO at Hamilton Insurance Group in 2018, Munich Re said on Oct. 19.
Bermuda-based specialty P&C re/insurer Sompo International Holdings said on Oct. 19 that it has launched a new strategic partnership in Africa to access new markets.