Reinsurance

The executive joins after nearly a decade at the Bermuda carrier's legacy peer.

Adverse development from the 2018 accident year adds another $15mn to the tally.

The carrier is expecting claims to more than double from the year-ago period.

The modelling agency’s estimate factors in privately insured wind and storm surge losses from property and automobile claims.

Tropical storm Barry has now strengthened, with the storm expected to make landfall tomorrow as a hurricane, according to data from National Hurricane Center (NHC) reconnaissance flights.

Outgoing CEO Sean Downes will be executive chairman.

Total economic losses are not expected to surpass $1.5bn, the broker outlined in its latest monthly catastrophe update.

The personal lines giant has reined in its loss estimate for Camp Fire as other cedants show creep.

The series of storms caused economic losses of $2bn, figures from Aon show.

The Oslo-based carrier warns it will record a Q2 combined ratio of 107 percent after losing a dispute with Munich Re over Grenfell losses.

The exercise of the over-allotment option follows the sale of $834mn of shares in June.

Assurant is targeting less volatile earnings after amending its reinsurance programme.