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October 2017/2

  • Imagine that on your way home the urge suddenly takes you to gamble. You walk straight into a betting shop and place the biggest bet you can afford on a horse race.
  • Former Dual CEO Talbir Bains is set to return at 1 January with a start-up MGA known as Volante that will look to commence underwriting operations across four continents, The Insurance Insider can reveal.
  • Average comprehensive motor insurance premiums in the UK fell by 1.1 percent to £838 ($1,105) in Q3, as insurers adjusted their prices in anticipation of a change to the Ogden discount rate, according to the latest pricing survey from Willis Towers Watson.
  • Recent company pre-announcements for Q3 catastrophe events have surprised the market, with some loss numbers coming in well above analysts' expectations.
  • State Farm had the most to lose from Hurricane Nate when it blew ashore in Louisiana over the weekend, based on the company's market share in the Bayou State.
  • Homeowners' and commercial property insurers operating in northern California are braced for potential losses in the low billions of dollars after at least 15 wildfires spread across the wine-growing area of Sonoma and Napa counties.
  • The mutual marine insurer Norwegian Hull Club has warned reinsurers of a large loss from Hurricane Irma, The Insurance Insider can reveal.
  • Hurricane Nate may not go down in the annals along with Harvey, Irma and Maria when the history of this remarkable period of catastrophe losses is written, but the fourth US landfalling hurricane of the season has added fresh pain for already-suffering carriers.
  • US broker Integro was recently running a pro forma debt-to-Ebitda ratio in excess of 9x, numbers from Moody's show, as it enters exclusive takeover talks with independent London broking house Tysers.
  • The impact of hurricanes Harvey, Irma and Maria (HIM) means the insurance-linked securities (ILS) sector is in line for one of its more complicated 1 January renewals, despite the fact the market's share of losses will be much more contained than it might have been.
  • High net worth (HNW) start-up Vault is set to launch this month, having secured backing from Allied World and Mike Millette's Hudson Structured Capital Management.
  • For a start-up, getting the timing right is often a key driver of success.
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