Insurers have received 13,750 claims in NSW, Victoria, South Australia, and Queensland.
Placement covers portions of NFIP losses above $4 billion from a single flood event.
Deteriorating loss experience and lack of new capital play key roles.
The figure is PERILS’ fourth and final property loss estimate for the hailstorms.
The changes are part of AXA XL Reinsurance’s simplified organizational structure.
Pricing, cost reduction and other “bread and butter” issues are the top concerns for chief risk officers (CROs) within Lloyd’s managing agencies.
More than any other mega trend, Airmic members identified geopolitical tensions as becoming harder, or significantly harder, to manage over the next three years.
The UK Financial Conduct Authority (FCA) has found no significant issues to “merit the introduction of intrusive remedies”, following its review of the wholesale insurance brokers market.
German-based Allianz Group has increased the size of its digital investment unit Allianz X, making it one of the largest corporate venture funds in Europe.
Global Risk Partners (GRP), a specialist investment vehicle for brokers and managing general agents (MGAs), has acquired a UK-based firm with a portfolio of nine leading specialist insurance broking and managing general agency (MGA) businesses.