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Mudslide claims tied to fire near $422mn in California

California’s January mudslides that devastated high-end residential neighbourhoods near Santa Barbara in the wake of the historic Thomas wildfire prompted almost $422mn in claims, state regulators said today.

Ted Bunker, 03 April 2018
Frenchman’s Reef loss climbs above $300mn

The claim on the Frenchman’s Reef beach resort in the US Virgin Islands (USVI) has now gone above $300mn as business interruption (BI) losses and escalating rebuild costs push the burden for insurers higher, The Insurance Insider has learned.

David Bull, 03 April 2018
Rivera leaves MGA V3 to join Tokio Marine HCC as COO

Susan Rivera has left V3 Insurance Partners, the specialty MGA she helped start and headed up as CEO, for a new executive role at Tokio Marine HCC, the Houston-based unit of Japan’s Tokio Marine Group.

Laura Sanicola, 02 April 2018
White Mountains agrees to buy 95% of NSM for $368mn

White Mountains has taken another step along the acquisition trail with an agreement by a subsidiary to buy a majority stake in program administrator NSM Insurance Group for $368mn in cash.

David Bull, 02 April 2018
United Fire closes $280mn sale of life unit

A United Fire Group subsidiary has completed the sale of its life insurance unit for $280mn in cash, the property and casualty insurer said today.

Ted Bunker, 30 March 2018
Demotech affirms Florida Specialty after Sirius deals

Demotech has affirmed the A financial stability rating of Florida Specialty after the homeowners’ carrier arranged a loss portfolio transfer and additional reinsurance with Sirius.

David Bull, 30 March 2018
Fosun confirms investment intent

Chinese conglomerate Fosun has said it intends to spend $3.2bn on technology in the next three years after an active 2017 for overseas dealmaking, the company's CEO told the Financial Times.

John Hewitt Jones, 29 March 2018
Swiss Re shares rise on $9.7bn SoftBank deal ‘progress’

Shares in Swiss Re gained over 3 percent in morning trading following a report that negotiations for SoftBank to take a 25 percent holding worth up to CHF9.23bn ($9.66bn) were gaining traction.

John Hewitt Jones, 29 March 2018
Anbang chairman pleads for leniency: report

Anbang founder and former chairman Wu Xiaohui made a plea for leniency at the end of a high-profile, one-day trial in Shanghai for alleged economic crime, according to Reuters.

John Hewitt Jones, 29 March 2018
American Hellenic CEO denies formal contact in drug probe

American Hellenic Hull CEO Ilias Tsakiris has denied any formal contact from Greek prosecutors probing a drug-trafficking case involving the cargo vessel Noor One.

John Hewitt Jones, 29 March 2018

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