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Insurance
President Donald Trump has approved a major disaster declaration for the damage incurred by severe storms, flooding, landslides and mudslides between April 13 -16, 2018 on the Hawaiian islands of Kauai and Oahu. 9 May 2018
Insurance
Australia and New Zealand Banking Group (ANZ) has finalised a reinsurance arrangement with Zurich and has received around $1 billion of reinsurance proceeds. 8 May 2018
Insurance
Berkshire Hathaway has reduced net earned premium in its re/insurance operations by 38.5 percent year on year to $13.37 billion in the first quarter of 2018 driven by the Berkshire Hathaway Reinsurance Group unit, according to KBW research. 8 May 2018
Insurance
Innovative Coverage Concepts (ICC), a wholesale broker and managing general agency (MGA), has appointed Joe Chamberlain as chief operating officer. 8 May 2018
Alternative Risk Transfer
Bermuda-based specialist insurer Hiscox has grown gross written premiums by 24.3 percent year on year to $1.16 billion in the first quarter of 2018 as Hiscox London Market and Hiscox Re & ILS took advantage of the hardening market at the Jan. 1 renewals. 8 May 2018
Technology
Managing general agents are partnering with insurtech firms—a trend that could transform the sector and the very nature of MGAs, Peter Staddon, managing director of the Managing General Agents’ Association, tells Intelligent Insurer. 4 May 2018
Insurance
The chief financial officer of Swiss Re has refused to deny that the reinsurer is in talks with companies other than SoftBank in relation to selling a stake in the company. 4 May 2018
Insurance
Italian insurance group Generali has increased operating results in its property/casualty (P&C) segment by 14.1 percent year on year to €528 million in the first quarter of 2018 due to improvements in the non-catastrophe loss ratio. 4 May 2018
Insurance
Fairfax Insurance Holdings, the re/insurance conglomerate which includes OdysseyRe, Allied World and Brit, posted stellar growth and big profits in the first quarter of 2018 though its growth was largely due to premiums from Allied World, which it acquired in July last year, being added for the first time. 4 May 2018
Insurance
TransRe helped boost the results of parent company Alleghany Corporation in the first quarter of 2018, though the company’s group CEO expressed disappointment that rate hikes in the reinsurance business were not higher following the high cat losses of 2017. 4 May 2018
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