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AIG and Carlyle aim to make legacy vehicle DSA Re a standalone entity in 12-18 months.
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The fires continue to sweep across the state but the Carr blaze is coming under control.
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The insurer’s catastrophe claims came in below budget for the second quarter, but it is close to triggering a reinsurance deal covering severe non-cat losses.
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The quarterly results reveal an underwriting deterioration at Atrium and StarStone.
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The fire is now estimated to have destroyed some 1,546 structures and is threatening a further 1,658.
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AIG’s move to manage its liabilities in-house means a potentially significant deal flow is now virtually off-limits for legacy acquirers.
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News that 2018 will likely be the fourth hottest year and that the only more oppressive ones have been 2015, 2016 and 2017 leads me to believe that the record heat and what it has helped create – more flooding, more hurricanes, more tornadoes – just may be saving the insurance industry.
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The parties have also entered into a strategic agreement with plans to build DSA Re into a standalone legacy acquirer. -
Firefighters are racing to stop the spread of fires, which have so far destroyed 972 homes.
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Property cat reinsurance rate rises still lag behind those of primary insurance, executives said during Q2 conference calls.
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The Hartford, Travelers and Chubb were questioned about talc exposures this earnings season following a court ruling against Johnson & Johnson.
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Legacy carriers are lining up resources ready for the mass sell-off of continental European liabilities but obstacles to transactions remain.
