Former DARAG CEO and current SOVAG chairman Arndt Gossmann has revealed plans to create a new risk carrier focusing on portfolio restructuring of non-life insurers in Europe with Munich Re as its reinsurance partner.
American International Group (AIG) expects to report third quarter 2018 pre-tax catastrophe losses, net of reinsurance, of approximately $1.5 to $1.7 billion.
Bermuda-based Everest Re Group estimates pre-tax catastrophe losses for the third quarter of 2018 of $240 million, net of reinsurance.
Charles Taylor Managing Agency has placed Syndicate 1884, which is managed by the business, into run-off.
Lower catastrophe losses in the third quarter of 2018 have helped The Travelers Companies to more than double the profit in the period compared to the previous year.
Munich Re has nominated former CEO Nikolaus von Bomhard as new chairman of the supervisory board to succeed Bernd Pischetsrieder.
Swiss Re estimates its preliminary combined claims burden from recent large natural catastrophes in the third quarter of 2018 at approximately $1.1 billion, net of retrocession and before tax, dominated by weather-related losses in Japan.
Japanese conglomerate Softbank Group continues to hunt for ways to accelerate the digital upheaval in the insurance industry, including tie-ups with unspecified reinsurance players, said David Thevenon, dealmaker of the company’s Vision Fund, according to a Reuters Oct. 16 report.
Bermuda-based RenaissanceRe Holdings (RenRe) estimates losses from third quarter 2018 catastrophe events will have a net negative impact of approximately $155 million on its third quarter 2018 results of operations.
Broker Willis Towers Watson has formed a new claims resolution team to expand its advocacy capabilities and facilitate efficient financial recovery for its clients in complex and contested claims scenarios.