Qatar Re's Dubai-based head of marine will move to lead operations in Singapore following three departures in the recently licensed office, The Insurance Insider understands.
QBE North America is set to target the market for smaller professional lines after partnering with a managing general agent to write cover for accounts that generate $5mn or less in revenue.
American Financial Group saw third quarter profits drop 29 percent as $105mn in preannounced catastrophe losses took their toll on the insurer’s bottom line.
Total return reinsurer Greenlight Re reported a $19.9mn net profit for the third quarter despite taking a $37.9mn hit from natural catastrophes that sent the carrier to an underwriting loss.
Shares in Validus were up by as much as 4 percent in intra-day trading today after Bank of America Merrill Lynch (BAML) analysts advised investors to start buying the stock.
