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  • Arch Insurance and US Specialty Insurance Company are seeking a judgment from the court of New Jersey to confirm they do not have to pay out for historic multi-million-dollar shareholder actions against pharmaceutical giant Pfizer.
  • Shares of American Financial Group jumped over 6 percent in New York trading today after the property and casualty insurer posted record earnings that exceeded market estimates for the fourth quarter and projected full-year 2018 results would top expectations.
  • XL Group’s fourth quarter operating profit dropped almost 10 percent to $116.1mn as it took a $315.2mn hit from previously announced catastrophe losses, driven by California wildfires.
  • Validus, the (re)insurer being acquired by AIG, missed analysts’ fourth quarter earnings estimates, posting a deeply shrunken profit as its loss ratio ballooned and the combined ratio deteriorated sharply compared with the year-earlier period.
  • Carriers are becoming more active investors in InsurTech start-ups, according to data from Willis Towers Watson Securities.
  • Allianz Global Corporate & Specialty has acquired the renewals rights to Liberty Mutual's US product recall book, after the insurer decided to exit the class last year.
  • Selective Insurance Group is looking to add three US states to its commercial lines platform in 2018 as it targets growth opportunities.
  • The idea of directors and officers insurance becoming commoditised “is dangerous to me,” especially as cyber, cultural and corporate irresponsibility risks that corporate boards and managements face continue to get more complex, AIG CEO Brian Duperreault told a gathering of industry leaders today.
  • The core MGA business of Ardonagh Group has begun rebranding under a new structure.
  • Marsh & McLennan Companies (MMC)'s reinsurance arm Guy Carpenter reported 7 percent underlying revenue growth for the fourth quarter of 2017.