October 2016/3

Samsung has no product recall cover in place for the faulty batteries in its Galaxy Note 7 phones, which look set to cost the South Korean technology giant $2.3bn.

Bermuda was left sodden but largely intact following its encounter with Hurricane Nicole late last week, with insured losses expected to be relatively slight, despite 120mph winds.

Managing general agency (MGA)-cum-broker Manchester Underwriting Management has appointed an investment banker to assist in a capital raise of roughly £5mn ($6mn), The Insurance Insider can reveal.

As loss estimates for Hurricane Matthew continue to be revised down, it is becoming increasingly clear the storm's impact will amount to little more than a manageable dent in Q3 earnings for (re)insurers.

Nine Merchants Re, a $500mn start-up led by former Aon Benfield Greater China CEO Steve Warwick, has become the latest in a wave of Chinese reinsurance start-ups.

Investment banker Scott Maries is to join Arch to work on its run-off vehicle, The Insurance Insider has learned.

Ever walk out of the movie theatre feeling short-changed?

Homeowners' specialist National Lloyds Insurance Company has been put up for sale by its New York-listed parent Hilltop Holdings, The Insurance Insider can reveal.