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Everest taps AIG’s Weiser for excess casualty line

Everest Re's insurance arm has hired Debbie Weiser away from American International Group to run its excess casualty line out of New York.

Ted Bunker, 06 September 2017
P&C market drop reflects $50bn Irma loss: JPMorgan

Insurers and reinsurers sank in New York trading today as investors priced in anticipated losses of as much as $50bn from Hurricane Irma making a direct hit on the US as a Category 3 or higher storm, an outcome JLT Re sees as likely.

Ted Bunker, 06 September 2017
Universal leads Florida home market as Irma looms

Universal dominates the Florida’s personal and commercial residential market, which leaves it potentially exposed as Hurricane Irma threatens to batter the Sunshine State.

Dan Ascher, 06 September 2017
Livecat market locks up as Irma fears grow

The Livecat market, which sees industry-loss warranties (ILWs) bought and sold before a windstorm hits, has frozen after a few trades at $30bn-$40bn triggers yesterday as fears grow that Hurricane Irma could make landfall in Florida as a major storm.

Adam McNestrie, 05 September 2017
Shares drop in US and Bermuda P&C sector on Irma fear

Shares of property and casualty (re)insurers in Bermuda and the US dropped as projected losses from Hurricane Harvey continued to mount and Irma emerged as a Category 5 hurricane bearing down on the Caribbean.

Ted Bunker, 05 September 2017
Exin Re CEO departs amid pay dispute

Exin Re CEO Marc Maupoux has resigned after staff at the Zurich-based reinsurer went unpaid for months, and is currently engaged alongside other staff in official proceedings to recover the money as Matt Fairfield's insurance group readies a counterclaim

Adam McNestrie, 05 September 2017
Irma fears batter Florida P&C shares

Florida P&C carriers fell sharply in early New York trading today amid the prospect of Hurricane Irma slamming into the Sunshine State later this week

Ted Bunker, 05 September 2017
Fitch: Harvey unlikely to impact pricing

A benign first half of the year for catastrophe losses means Hurricane Harvey is unlikely to impact reinsurance pricing, Fitch Ratings said at its pre-Monte Carlo briefing this morning.

Sofia Geraghty, 05 September 2017
Reinsurers to pay out 75-100% of NFIP cover: RMS

The National Flood Insurance Program (NFIP) is expected to burn through between 75 percent and 100 percent of its $1bn reinsurance placement following Hurricane Harvey, according to RMS.

Sofia Geraghty, 05 September 2017
AJ Gallagher acquires Swedish broker

Arthur J. Gallagher (AJG) has expanded its presence in the Scandinavian market with the acquisition of Gothenburg-based commercial lines broker Nordic Försäkring & Riskhantering.

Bernard Goyder, 05 September 2017

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