News
Insurance
American International Group’s US casualty business has performed significantly worse than expected by the firm in recent years, resulting in a $3 billion loss in the fourth quarter of 2016 as the company reacted by striking a reinsurance deal and significantly increasing claims loss reserves. 17 February 2017
Insurance
A class-action lawsuit seeking $12.5 billion, or $25 for each customer whose privacy may have been jeopardized, has been filed against Marriott after the hotel chain revealed a data breach affecting 500 million customers of its Starwood hotels, according to a Dec. 1, 2018 report by The Oregonian. 3 December 2018
Alternative Risk Transfer
The important role of Bermuda in the aftermath of potentially big losses stemming from hurricanes Harvey and Irma was centre of the debate at the annual Bermuda:Re+ILS Monte Carlo Roundtable. 12 September 2017
Insurance
Insurer Chubb has made two appointments for its regional cyber team in Asia Pacific. 4 September 2017
Alternative Risk Transfer
The wide divergence in loss estimates given by the risk modelling community in the aftermath of the US hurricanes could prompt more re/insurers to invest in their own analytical capabilities and get a better handle on their data. 16 October 2017
Insurance
US-based Fifth Third Insurance Agency has signed an agreement to acquire RG McGraw Insurance Agency that specialises in property/casualty insurance and risk management analysis for personal lines and commercial lines. 1 March 2017
Insurance
Bermuda-based Everest Re Group has expanded the financial lines division of Everest Specialty Underwriters (ESU) with a private company/not-for-profit (PC/NFP) unit and multiple key hires, the re/insurer said in a Feb. 20 press release. 21 February 2018
Insurance
Former DARAG CEO Arndt Gossmann and brokerage sales expert Gerd Meyer have resurfaced at composite insurer Schwarzmeer- und Ostseeversicherungs-AG (SOVAG) as the new members of its management board. 12 May 2017
Insurance
Cooler waters and a weak El Niño could result in an average 2018 Atlantic hurricane season, according to a new report by rating agency Moody’s. 18 June 2018
Insurance
Sompo International's US insurance platform has reached an agreement to purchase the operating subsidiaries of Lexon Surety Group. 4 January 2018
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