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Caribbean islands face 'devastating loss': RMS

Some of the Caribbean islands already impacted by Hurricane Irma could hand insurers losses of just under $3bn, according to preliminary modelled numbers released by RMS.

Adam McNestrie, 07 September 2017
Ascot Underwriting moves Cline to MGA platform Ethos

Ascot Underwriting has selected Rory Cline as chief underwriting officer of MGA start-up Ethos Specialty Insurance Services, the insurer said.

Bernard Goyder, 07 September 2017
InsureTech firm raises $2.5mn to automate underwriting

InsurTech start-up DataCubes has completed a $2.5mn series A funding round as it looks apply artificial intelligence and machine learning to the underwriting process

Dan Ascher, 07 September 2017
Hilb names former Chubb CFO Spiro as CEO

The Hilb Group (THG) said former Chubb CFO Richard Spiro has replaced co-founder Robert Hilb as CEO of the P&C and employee benefits broker.

Laura Board, 07 September 2017
Equity market expecting Irma losses of $60bn: UBS

Investors have priced in $60bn of insured losses from Hurricane Irma, which is expected to make landfall in Florida as a Category 4 storm, according to UBS.

Bernard Goyder, 07 September 2017
UK government says Ogden reforms would change rate to 0%-1%

The UK's Ministry of Justice (MoJ) has drafted Ogden discount rate reforms which it said would result in a rate of between 0 percent and 1 percent, compared with minus 0.75 percent at present, based on current conditions.

Laura Board, 07 September 2017
Darag confirms CFO hire in executive shake-up

Run-off acquirer Darag has confirmed the hire of Mike Trotman as its chief financial officer in an overhaul of the company's management structure.

Bernard Goyder, 07 September 2017
Opinion: The big test

As the peak zone for cat reinsurers, Florida is rarely out of the spotlight

David Bull, 07 September 2017
Infinity P&C sees up to $15mn Harvey losses

Alabama-based auto insurer Infinity Property and Casualty has said it expects pre-tax losses from Harvey to be between $10mn and $15mn.

Bernard Goyder, 07 September 2017
Irma skirts Puerto Rico and heads for Bahamas

Hurricane Irma, a Category 5 storm packing sustained winds of 185mph (298kph) and gusts up to 224mph, passed just north of Puerto Rico last night and was heading in the general direction of the Bahamas and southern Florida, while to the east, a new hurricane developed from Tropical Storm Jose.

Ted Bunker, 07 September 2017

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