As the US wildfire costs exceed $10 billion in 2018 for the second year running, wildfires may no longer be a secondary peril, Steve Bowen, Impact Forecasting director and meteorologist at Aon, has suggested.
AM Best has revised its market segment outlook for the global reinsurance industry to stable from negative for 2019.
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group is integrating its Ironshore Bermuda businesses and rebrands it as Liberty Specialty Markets Bermuda.
Industry insured losses from the Camp Fire in Northern California will be between $6 billion and $9 billion, according to estimates by catastrophe risk modelling firm AIR Worldwide.
Richard Milner, formerly president and chief underwriting officer of AXIS Re London & Asia-Pacific has joined VIBE Reinsurance (VIBE Re) as its first CEO.
Swiss Re Corporate Solutions has appointed new leaders for its global casualty and excess & surplus (E&S) North American business lines.
London-based insurtech company Concirrus has appointed Nick Roscoe as its chief operating officer (COO) as it looks to drive change through the adoption of technology in the marine insurance market.
American International Group (AIG) is expecting natural catastrophes to cost the insurer between $750 and $800 million pre-tax in the fourth quarter of 2018, CEO Brian Duperreault said during a Dec. 5 Goldman Sachs US Financial Services Conference.
Jacqueline Legrand has resigned from her position as CEO of global broking network Brokerslink with immediate effect.
Specialty insurer Beazley expects the cost of claims arising from the 2018 California wildfires to be around $40 million, net of reinsurance.