News
Insurance
Insured residential and commercial storm surge and wind losses from hurricane Michael are estimated at between $3 billion and $5 billion, according to an update by data provider CoreLogic. 15 October 2018
Insurance
Cincinnati Financial Corporation is acquiring Munich Re subsidiary MSP Underwriting in an all-cash transaction of £102 million. 12 October 2018
Insurance
Marsh & McLennan’s acquisition of JLT has been on the cards for some time. While the two players complement each other in many areas, Marsh has taken on a lot of debt to finance the deal—which may cause it problems. Intelligent Insurer reports. 12 October 2018
Insurance
Japanese insurance group MS&AD is seeking acquisitions outside Japan to further diversify the business, CEO Yasuyoshi Karasawa said while presenting the group’s “Vision 2021” plan. 12 October 2018
Insurance
Bermuda-based Catalina Holdings has closed a $700 million equity capital raise from Apollo, allowing for “much larger transactions” and making Apollo the majority shareholder. 11 October 2018
Insurance
In the event that the UK leaves the EU with no transition or implementation period before Lloyd’s transfers the European Economic Area (EEA) business to its Brussels subsidiary, Lloyd’s underwriters will continue to honour their contractual commitments including the payment of valid claims, according to a corporate statement. 11 October 2018
Insurance
Hurricane Michael made landfall as a Category 4 hurricane along the Florida Panhandle coast yesterday (Oct. 10) and is expected to have caused damage from wind and storm surge in the range of $2 billion to $4.5 billion, according to CoreLogic estimates. 11 October 2018
Alternative Risk Transfer
Specialist insurer Hiscox has appointed Liz Breeze as the new chief financial officer (CFO) of its reinsurance and alternative capital business Hiscox Re & ILS, based in Bermuda. 11 October 2018
Insurance
Reinsurers are likely to bear the brunt of the losses caused by hurricane Michael, KBW's Meyer Shields suggested in a research note. 11 October 2018
Insurance
Specialist independent Lloyd’s broker and delegated authority specialist SSL Endeavour Group, which have recently merged under private investment firm JC Flowers, is expanding its property team with new hires from Aon and Bell & Clements. 11 October 2018
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