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Mapfre faces EUR1.1bn gross cat bill as it cuts US presence

Spanish (re)insurer Mapfre pegged gross third quarter cat claims in North America and the Caribbean at EUR1.1bn ($1.3bn) as it announced a geographic revamp including a retreat from five US states.

Laura Board, 01 December 2017
2017 'one of the costliest years on record': Beale

Lloyd's CEO Inga Beale has described 2017 as "one of the costliest years on record" for the market, after hurricanes Harvey, Irma and Maria.

Bernard Goyder, 01 December 2017
Ironshore leaches environmental team leaders

Ironshore has now parted company with three members of the management team of its environmental unit after Stacey Varner also left the Liberty Mutual-owned carrier, The Insurance Insider can reveal.

David Bull, 01 December 2017
Opinion: Impatience on Ogden

If you were in London yesterday, and listened very hard between 1pm and 2pm, you may have been able to make out the distinct sound of hundreds of insurance executives, actuaries and lawyers collectively sighing in disappointment.

Charlie Thomas, 01 December 2017
Asbestos losses mount while new claims ebb: AM Best

Asbestos remains a persistent source of industry losses, with an estimated $13bn funding gap between the $100bn projected total liability for the US P&C industry and the $87bn paid out or reserved through last year, according to AM Best data.

Ted Bunker, 01 December 2017
CF closes $1.8bn Fidelity & Guaranty acquisition

CF Corporation completed its $1.84bn purchase of Fidelity & Guaranty Life less than two days after Iowa’s insurance commissioner approved the deal.

Ted Bunker, 01 December 2017
Georgia insurers’ Irma bill climbs to $670mn

Insured losses in Georgia following Hurricane Irma have climbed to $670mn, according to the state’s Department of Insurance.

Dan Ascher, 01 December 2017
Veteran Boren plans to leave Ironshore

Ironshore environmental chairman Joe Boren is set to leave the Liberty Mutual-owned carrier at the end of the year.

David Bull, 01 December 2017
Fidelity & Guaranty deal given Iowa approval

A $1.84bn deal that would see CF Corporation buy Fidelity & Guaranty Life moved a step closer to closing after Iowa’s insurance commissioner approved the deal this week.

Ted Bunker, 01 December 2017
Epic hires business development head from Wells Fargo

Expansive private equity-backed retail broker Epic has picked up former Wells Fargo executive Sam Elliott to lead its business development, sales and marketing push.

Dan Ascher, 01 December 2017

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