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October 2017/1

  • Let me take a wild guess - I bet you're glad it's not Q3 2017 anymore.
  • Data provider Property Claim Services (PCS) has issued an initial estimate for Hurricane Irma insured losses in US territories of $18.03bn, The Insurance Insider has reported
  • Catastrophe modelling firms have failed to reach a consensus on the impact of hurricanes Harvey, Irma and Maria, as carriers attempt to count the cost of a fast-moving claims situation
  • With the third quarter now in the books and (re)insurers obliged to quantify their losses for investors during reporting season, a number have started to pre-announce their expected share of the glut of cat losses.
  • Downstream energy losses this year were approaching $2.85bn even before the recent run of Atlantic hurricanes, according to the latest energy report from JLT Specialty.
  • As insurers and their reinsurers continue the challenging task of assessing HIM exposures, there is anecdotal evidence that US property underwriters are beginning to demand rate increases at renewal.
  • A long-term decline in non-fatal workplace accidents and injuries combined with improving loss experience helped workers' compensation carriers to greater profitability last year as premiums climbed to a record $58.5bn
  • Concern is mounting in the market that Nagico, the dominant insurer in the Dutch Caribbean, will shoot through the top of its reinsurance programme after St Maarten was devastated by Hurricane Irma.
  • A QBE spokesperson confirmed that 2017 catastrophe losses are expected to exhaust its $900mn aggregate reinsurance programme, which is understood to be written by Berkshire Hathaway.
  • Competition among InsurTech start-ups to join so-called accelerators is keen, with 10 of the market's most high-profile firms receiving more than 8,500 applications to join their programmes, according to a report from Celent and Guy Carpenter.
  • Once again, there was little joy to be found in the headline numbers of Lloyd's first half results.
  • John Sutton and Toby Humphreys, who led Integro's UK operation for more than a decade until their exit in March this year, are planning to launch a new brokerage, The Insurance Insider understands.
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