News
Insurance
A series of winter storms in the US have caused a total combined economic damage of around $3 billion, according to Aon Benfield estimates. 5 April 2018
Insurance
The economic cost of a record breaking heatwave, severe storms and flooding in Europe in June 2019 is expected to exceed €1.774 billion (US$2 billion), according to Aon’s monthly Global Catastrophe Recap report. 11 July 2019
Insurance
US property/casualty (P&C) re/insurers have improved operating returns by 8.0 percent year on year in the first half of 2018 after an increase of 6.8 percent in the same period of 2017, according to Fitch Ratings. 31 August 2018
Insurance
There is a real opportunity to improve reinsurance processes with the use of blockchain technology, which can deliver cost savings and efficiency gains of 30 percent by taking out unnecessary reconciliation, repetitive duplication of work and waiting times. 11 September 2017
Insurance
Bermuda-based RenaissanceRe Holdings estimated the losses from the October 2017 California Wildfires will have a net negative impact of $90 million on its fourth quarter 2017 results of operations. 6 December 2017
Insurance
Maidstone Insurance Company, a New York-domiciled, personal lines insurer with 23 state licenses, has been acquired by Special Diversified Opportunities, a publically traded diversified holding company that acquires companies in various industries. 4 January 2018
News
Reinsurers’ 2017 profitability declined to the lowest level since 2005, when the industry was affected by hurricanes Katrina, Rita and Wilma, Moody’s said in an April 2 report. 3 April 2018
Insurance
German insurance giant Allianz posted a record operating performance in 2018, reaching the upper end of its target. It also expects to generate a larger profit in 2019, provided there are no unforeseen performance interruptions. 15 February 2019
Insurance
Munich has overtaken London as the European leader of insurtech, but there’s still hope for London to take back its crown. 28 September 2017
Insurance
AEGIS London, the UK-based subsidiary of AEGIS, has appointed Jonathan Humm as its new class underwriter for marine hull. He joins from Hiscox where he was deputy hull underwriter. 22 May 2018
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