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Progressive’s Harvey loss suggests less industry pain

Progressive reported sharply lower than expected catastrophe losses related to Hurricane Harvey that led to a nearly 2.9 percent gain in its shares yesterday, in a possible indication that overall insured damage from the storm is less than forecast

Ted Bunker, 21 September 2017
Maria lashes Puerto Rico but eye skirts Virgin Islands

Hurricane Maria slammed into Puerto Rico and blacked out the island commonwealth early today as a Category 4 storm with sustained winds of as much as 155mph (249kph), but weakened considerably after crossing the mountainous US territory.

Ted Bunker, 20 September 2017
Irma loss up to $55bn as Caribbean claims mount: RMS

Industry insured losses from Hurricane Irma could range from $35bn to $55bn, modelling firm RMS estimated, including up to $20bn in Caribbean claims.

Fiona Robertson, 20 September 2017
Liberty Specialty Markets reshuffles leadership team

Liberty Specialty Markets (LSM) has appointed Phil Hobbs deputy managing director, as recently installed president and managing director Matthew Moore reshuffles his top team

Adam McNestrie, 20 September 2017
Reinsurer earnings will take hurricanes hit: RBC

RBC Capital Markets has lowered its 2017 earnings estimates for European reinsurers and Lloyd's carriers by an average of 21 percent and 54 percent respectively to allow for the impact of hurricanes Harvey and Irma

Catrin Shi, 20 September 2017
Mapfre most exposed global carrier to Puerto Rico

Hurricane Maria is likely to cause severe insured losses in Puerto Rico, the Caribbean's largest insurance market, with Mapfre the global insurer with the greatest exposure to the US territory.

Bernard Goyder, 20 September 2017
Willis Towers Watson hires head of construction from JLT

Willis Towers Watson has appointed Martin Hiller as head of international construction within its corporate risk and broking unit.

Laura Board, 20 September 2017
Castel Specialty launches Benelux M&A offering

The specialty division of MGA platform Castel Underwriting is to expand into Benelux M&A insurance and European tax risk cover, having installed a former senior underwriter at AIG to lead the initiative

Laura Board, 20 September 2017
AIR gives $1.1bn loss estimate for 1st Mexican quake

AIR Worldwide has estimated that insured losses from the magnitude 8.1 earthquake that struck off the coast of the Mexican state of Chiapas on 7 September will be between $787.6mn and $1.1bn

Laura Board, 20 September 2017
Catalina wins exclusivity in Zurich legacy disposal

Zurich has awarded exclusivity to Catalina over the sale of its EUR400mn ($480mn) German medical malpractice legacy book, The Insurance Insider can reveal

Catrin Shi, 20 September 2017

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