Reinsurance

Whoever thought it was a good idea to taunt the weather gods in this way?

The company has created a new management committee as it refocuses on disciplined underwriting.

The business is likely to be valued at around $500mn, according to market sources.

Despite shrinkage of the overall pool, new capital providers have entered the market in recent months, the ratings agency said.

The carrier will provide Floridian homeowners insurance online, by phone or via email.

Practice group chairman Roger Smith says the unit will help the broker respond to clients’ needs strategically. 

The carrier expands non-life premiums by 15 percent in the six months to 30 June.

Aggregate underwriting income in the first half of 2019 fell to some $32.7bn among carriers tracked by the agency.

The development follows Aviva’s review of its Asian life, general and health insurance unit.

The latest increase has pulled its cumulative returns since inception down to a loss of 52.9 percent for ordinary shares, as prior-year gains have been more than wiped out by 2017/18 disaster events.

One of the long-term, fundamental questions in reinsurance has been the degree to which pricing in one region can affect another.

Co-founder Niall Barton will move from the CEO role to executive chairman.