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PCS has increased its loss number for Hurricane Harvey to $17.1bn from $15.7bn, according to Trading Risk sources.
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Last year was the worst on record for catastrophe losses, but (re)insurers must be prepared for the possibility of more frequent multiple-disaster years in future, according to a Swiss Re report.
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The US P&C industry's reserving deficit deepened to $4.3bn in 2017, according to research from Morgan Stanley.
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Global reinsurance capital continued to rise in 2017 as alternative capital funds reloaded, according to Aon Benfield.
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Hailstorms that struck southern US states including Texas last week are likely to cause "hundreds of millions" of dollars of economic and insured losses, according to Aon Benfield's Impact Forecasting report.
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A Church’s Chicken franchisee has filed a lawsuit in Texas accusing several Lloyd’s underwriters of not living up to their commercial policies when it comes to 54 stores affected by Hurricane Harvey.
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Swiss Re Corporate Solutions (SRCS) has launched a standalone excess and surplus lines (E&S) business unit for North America as it looks to expand in the space.
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Swiss Re has restructured its specialty reinsurance management structure, reducing the number of divisions from five to two, The Insurance Insider can reveal.
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US commercial property insurance rate increases are already calming as the initial reaction from underwriters to record 2017 cat losses is tempered by the realities of a well-capitalised P&C industry, according to Willis Towers Watson.
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Brit Insurance’s head of property treaty in Bermuda, Julia Henderson, has left the company, The Insurance Insider can reveal.
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AIG has taken a huge 40 percent line on a newly consolidated property cover for retail giant Walmart that rolls its expiring US placement into a global structure, The Insurance Insider can reveal.
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Aspen Bermuda has returned to the cat bond market for the first time since the 2008 financial crisis, as it seeks to raise $150mn to cover US and European catastrophe risk, sister publication Trading Risk has reported.
