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Assurant may benefit from NFIP fees tied to Harvey
Assurant and other carriers that write National Flood Insurance Program (NFIP) policies may find a bit of a silver lining in Harvey’s devastation as they are in line to collect claims-processing fees while leaving the government-subsidised NFIP to bear the payouts, according to Credit Suisse analyst John Nadel.
Ted Bunker
,
30 August 2017
Harvey’s economic losses may reach $90bn: RMS
Hurricane Harvey’s total economic damages could reach $70bn-$90bn, catastrophe modeller RMS said, a total that could far surpass the nearly $70bn impact of 2012’s Hurricane Sandy as estimated by the National Oceanic and Atmospheric Administration.
Ted Bunker
,
30 August 2017
Fosun's Peak Re swings to profit in H1
Fosun-owned reinsurer Peak Re moved back into the black in the six months to June, posting net profit of $36.1mn, the parent company said in its results disclosure.
Bernard Goyder
,
30 August 2017
State National gained 10% Markel bid increase at auction
The Evercore-run auction for State National yielded indicative offers starting at $17 per share, with eventual victor Markel prevailing partly because of its ability to pay in cash
Laura Board
,
30 August 2017
Burford joins Fidelis as specialised risks chairman
Former Novae underwriting performance director Ian Burford has joined Fidelis' London underwriting team as chairman of specialised risks
Catrin Shi
,
30 August 2017
China to relax insurance investment rules: report
China will reportedly change the rules to encourage international participation in its insurance market amid a decline in foreign direct investment in the country.
Adam McNestrie
,
30 August 2017
Opinion: Kids and animals
There are two famous rules in showbiz: Never work with kids and never work with animals.
Mark Geoghegan
,
30 August 2017
Harvey to be absorbed by European cat budgets: Bernstein
The impact of Hurricane Harvey on European carriers will be swallowed up by existing natural catastrophe fund allocations, according to Bernstein analyst Thomas Seidl.
Bernard Goyder
,
30 August 2017
Harvey’s economic costs may top Sandy’s: Moody’s
Devastation wreaked by Hurricane Harvey may exceed Sandy in proportion, making the slow-moving storm that inundated Houston second only in total economic costs to Katrina, which destroyed entire neighbourhoods of New Orleans in 2005, Moody’s Analytics said today.
Ted Bunker
,
30 August 2017
Stone Point-backed Nebco combines with TDC
Stone Point Capital-backed agency Nebco has agreed to combine with TDC Risk Management in a move that will extend the organisation’s reach to include offices in states from Connecticut and Florida to Ohio and Arizona.
Ted Bunker
,
30 August 2017
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