News
Insurance
A series of major wildfires burned across Northern and Southern California is anticipated to cause the insurance industry a multi-billion-dollar aggregated payout, according to Aon’s Impact Forecasting Cat Alert. 12 November 2018
Insurance
Maiden Reinsurance (Maiden Bermuda), a wholly-owned subsidiaries of Bermuda-based Maiden Holdings has entered a retrocession agreement with Enstar Group related to quota share reinsurance contracts with AmTrust Financial Services. 12 November 2018
Insurance
Bermuda-based reinsurer Maiden Holdings has reported a significant increase in net losses for the third quarter of 2018 as adverse prior year loss development worsened in the AmTrust reinsurance segment. 12 November 2018
Insurance
Bermuda-based specialty lines insurance and treaty reinsurance provider AXIS Capital Holdings estimated its pre-tax loss from hurricane Michael in the range of $100 million to $120 million, net of estimated recoveries from reinsurance and retrocessional covers and including the impact of estimated reinstatement premiums. 12 November 2018
Insurance
Germany-based Talanx Group increased net income to €51 million in the third quarter of 2018 from a loss of €19 million in the same period a year ago despite the “unsatisfactory performance” of the industrial lines business. 12 November 2018
Insurance
Tokio Marine Holdings’ (TMHD) sale of two European reinsurance subsidiaries is likely to streamline its holdings and boost operational efficiency in the group's underwriting businesses, Fitch Ratings says. 12 November 2018
Insurance
The Global Federation of Insurance Associations (GFIA) has elected Recaredo Arias as its new president and a member of its executive committee. 12 November 2018
Insurance
Specialist re/insurance broker BMS Group has hired Duncan Hayward as a director in its energy division. 12 November 2018
Insurance
Structured reinsurance solutions drove impressive growth at Hannover Re across the first nine months of the year as it also confirmed that it anticipates a profit of more than €1 billion this year, even making allowance for a one-time charge from its life and health reinsurance business. But its CEO also warned on what he called sustained intense competition. 8 November 2018
Insurance
Barbican Syndicate 1955 has received the Lloyd’s approval for its 2019 business plan which includes a withdrawal from property insurance, marine cargo and hull insurance, and professional indemnity (PI) insurance. 8 November 2018
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