Models that use short-run data to predict insured losses significantly overestimate loss assumptions, according to a report by independent catastrophe risk management firm Karen Clark & Company.
Arthur J. Gallagher International is to open a facultative reinsurance brokering operation in Sao Paulo, Brazil.
Marsh & McLennan, Aon and Willis Group Holdings have reached an agreement with authorities in New York to amend their 2005 regulatory settlement agreements.
The business will be led by David Hopwood.
Novae Group, a specialist listed Lloyd’s insurer, has appointed Kieron Russell as a senior class underwriter, crisis management.
XL Group enjoyed a big increase in its profits in the third quarter in 2016 and substantial growth in its reinsurance property/casualty operations thanks to new business in Asia Pacific.
MAPFRE Economic Research predicts faster growth returning in 2021.
She will advise on legal matters across all product lines and client bases.
The sharing economy has grown exponentially, fundamentally changing the business landscape, and insurers must think beyond traditional products and services in order to effectively meet the needs of the shared economy, according to a Lloyd’s Emerging Risk Report.
There’s a lot of positives in the air for the sector, says Aon Securities’ Paul Schultz.