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Hank Greenberg backs AI start-up Cytora

Starr Companies chairman Maurice "Hank" Greenberg and QBE have participated in a £4.4mn ($5.9mn) funding round for artificial intelligence (AI) start-up Cytora.

Catrin Shi, 06 December 2017
Four new wildfires spread through Southern California

Four new wildfires have torn through southern California, forcing the evacuation of tens of thousands of people and destroying hundreds of buildings, according to reports.

Catrin Shi, 06 December 2017
Fema to submit claim for full NFIP reinsurance limit

The Federal Emergency Management Agency (Fema) has announced it would submit a claim to recover the whole of the $1.042bn of reinsurance coverage for the National Flood Insurance Program, following losses from Hurricane Harvey alone.

Catrin Shi, 06 December 2017
Opinion: Bolt from the blue

At first glance, the surprise addition of Tom Bolt to Brian Duperreault's emerging AIG dream team looks like a logical step towards transforming the fortunes of the ailing insurance giant

David Bull, 06 December 2017
Sabre prices IPO at mid-range to attain £575mn market cap

Private equity-backed Sabre today priced its IPO at 230 pence per share, equating to a market capitalisation for the motor insurer of £575mn ($773mn)

Laura Board, 06 December 2017
THB hires Durkan as commercial and placement director

Insurance and reinsurance broker THB has appointed a former senior AJ Gallagher executive as commercial and placement director within its UK risk solutions business.

Laura Board, 06 December 2017
Former AJG employee awaits sentencing for fraud

A claims manager who worked at Arthur J Gallagher (AJG) is awaiting sentencing after stealing £500,000 ($671,970) through fraudulent insurance payouts.

Bernard Goyder, 06 December 2017
Automotive recall claims the most costly for insurers: AGCS

The average large product recall claim is now around EUR10.5mn ($12.4mn), with automotive recalls generally costing nearly 20 percent more than that, according to analysis by Allianz Global Corporate & Specialty (AGCS).

Catrin Shi, 06 December 2017
Deakin appointed Ardonagh deputy CEO

Janice Deakin has been made deputy CEO of the Ardonagh Group with immediate effect

Catrin Shi, 06 December 2017
Nationwide runs up $1.3bn California wildfire loss

Nationwide is expecting a gross loss of more than $1.3bn from the Californian wildfires which tore through the state in October, sister publication Trading Risk revealed earlier today

Catrin Shi, 06 December 2017

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