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August 2017/2

  • Two weather forecasters have lifted their projections for the number of named storms in the current Atlantic hurricane season, falling into line with the expectation of a slightly above-average year
  • Zurich-based insurance-linked securities (ILS) manager Solidum said it has issued a private cat bond using a blockchain that will be opened to other ILS investors.
  • The reinsurance arms of the world's leading P&C brokers all posted positive organic growth numbers for the second quarter, while market headwinds caused insurance underlying growth to stutter.
  • London-based (re)insurers reported diminishing returns for the first half of the year, pressured by soft pricing conditions and narrow underwriting margins.
  • London-based carriers posted a worse underwriting result for the first half of the year, as lower contributions from reserve releases, elevated core loss ratios and higher expense ratios depressed margins.
  • London carriers posted an 8.4 percent expansion in gross written premium (GWP) in the first half of the year as the group's combined top line reached $4.6bn, using five-year average exchange rates.
  • One of Marsh's vice presidents has filed a legal complaint accusing the broker and her boss Paul Evans of destroying her career after subjecting her to a "pervasive atmosphere" of gender- and race-based hostility.
  • Fast-growing program fronting specialist Clear Blue has secured reinsurance support from Qatar Re on its latest program.
  • Trisura Specialty is preparing to launch as a hybrid program fronting carrier with a focus on US casualty insurance and $45mn of start-up capital, The Insurance Insider can reveal.
  • Charles Taylor InsureTech has fended off rival bids from IBM, Accenture, Verisk and Xchanging to become the preferred vendor for a crucial component of the London market modernisation programme.
  • Paul Atkinson, head of accident and health (A&H) at WR Berkley in London, is leaving the company to spearhead China Re Syndicate 2088's entry into the market, The Insurance Insider understands
  • M&A insurance-focused MGA Acquinex has launched with a line size of £25mn ($33mn) and lead backing from Arch, The Insurance Insider understands.