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Universal hands reinsurers up to $315mn on Michael loss
The regional carrier has a $35mn retention, which could be partially reduced by additional reinsurance recoveries from supplemental Non-Florida reinsurance program.
Laura Sanicola
,
23 October 2018
AIG shares continue slump with near 5% fall
AIG’s shares were priced at $44.96 at close, the lowest level since 2014.
Gavin Davis
,
23 October 2018
James River hires McCafferty as specialty segment head
Terry McCafferty became president of its specialty admitted insurance on 19 October.
Marissa Page
,
23 October 2018
Pacific hurricane Willa reaches Category 5 status
The resort town of Mazatlan is among the areas under threat.
Fiona Robertson
,
22 October 2018
Kemper announces Q3 cat losses up to $25mn
The Chicago-based carrier said the losses are mainly related to one wildfire and Hurricane Florence.
Marissa Page
,
22 October 2018
Brown & Brown to acquire broker Hays for $705mn
The target company has annualised revenues of approximately $220mn.
Laura Sanicola
,
22 October 2018
(Re)insurers must rise to cyber risk challenge: Höpke
No-one writing non-life insurance can avoid cyber exposure by doing nothing, says Munich Re's Doris Höpke.
Laura Board
,
22 October 2018
ERS confirms strategic review as it discloses capital loading
ERS will have to put up an additional £23mn of capital to support underwriting.
Adam McNestrie
,
22 October 2018
Amissima to shed EUR90mn Italian med-mal legacy book
Some will interpret the planned disposal as a positive sign the continental European legacy market is opening up.
Catrin Shi
,
22 October 2018
HCI reinsurers may escape Michael loss
The insurer's reinsurance cover is expected to be only lightly impacted if claims reach the top end of its $6mn-$18mn gross loss estimate.
Sofia Geraghty
,
22 October 2018
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