The $70bn gap between reported third quarter cat losses and industry loss estimates can be largely accounted for by (re)insurers and alternative markets that have not disclosed their losses, according to Morgan Stanley analysts
Allstate significantly outperformed Wall Street forecasts as it shrugged off third quarter cat losses to report a 24 percent increase in operating profit to $587mn.
Independent wholesaler Keating has expanded its senior executive team with two high-level hires and restructured its platform to drive further growth, The Insurance Insider can reveal.
WKFC Underwriting has launched a new property consortium with a quartet of high-profile carriers offering up to $100mn of combined limit, The Insurance Insider can reveal.
Preannounced cat losses of $1.2bn for Harvey, Irma, Maria and the Mexico City quake contributed to a third quarter operating loss of $667.6mn at Everest Re.
The US program sector has more than doubled in size since 2010 to reach premium volume of $36bn in 2016, according to trade body the Target Markets Program Administrators Association
