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State Farm payout tops $1.3bn for California wildfires

State Farm, the California market leader in homeowners’ multi-peril coverage, has paid out over $1.3bn in claims stemming from wildfires in the Golden State last year.

Ted Bunker, 06 February 2018
Everest Re shares climb over 7% on Q4 earnings beat

Everest Re shares rose as much as 7.6 percent in New York trading today after the carrier’s strong fourth quarter results far surpassed analyst estimates.

Ted Bunker, 06 February 2018
Opinion: The Steve Wynn case

Explosive claims of serial sexual harassment made against casino mogul Steve Wynn - which he has repeatedly denied - may cost him the gaming licence for a $2.4bn development Wynn Resorts is building near Boston.

Ted Bunker, 05 February 2018
Chubb picks up AIG’s Smith for chief claims role

Chubb has hired Michael Smith away from AIG to serve as chief claims officer, replacing Frank Lattal in the role.

Ted Bunker, 05 February 2018
Latin America to gain $1.36bn cat bond protection

Several Latin American countries are set to benefit from $1.36bn of combined earthquake reinsurance from a new cat bond, sister publication Trading Risk reported.

Lucy Jones, 05 February 2018
LMA urges more work before PPL is made compulsory

The Lloyd's Market Association has called for five changes to the market's electronic placing system before it becomes compulsory.

Bernard Goyder, 05 February 2018
Enstar rolls KaylaRe into group in $400mn deal

Enstar has agreed to acquire the outstanding 52 percent of total return reinsurance joint venture KaylaRe in a $400mn all-paper deal, the New York-listed insurance group said today.

Adam McNestrie, 05 February 2018
Biba appoints Aon’s Page as deputy chair

The British Insurance Brokers' Association (Biba) has named Julie Page, chief executive of Aon Risk Solutions, as deputy chair.

John Hewitt Jones, 05 February 2018
Bailey urges EU give on post-Brexit financial services

Financial Conduct Authority (FCA) CEO Andrew Bailey has called on the EU to recognise UK regulation of the wholesale financial services sector after Brexit rather than slamming the door on existing market access.

Laura Board, 05 February 2018
Everest Re beats big on cat and prior-year releases

Everest Re smashed fourth quarter earnings forecasts with operating profits that were up 53 percent to $556mn, aided by favourable prior-year development and a reduction in loss estimates for the Q3 cat events.

David Bull, 05 February 2018

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