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  • QBE has recruited Mark Baxter to be its chief risk officer in Australia and New Zealand, according to a statement from the carrier.
  • Insured losses from Cyclone Debbie, the storm that struck the eastern coast of Australia and New Zealand in late March, have risen by almost 15 percent in the last two weeks, according to data from the Insurance Council of Australia (ICA).
  • At least two industry advocacy groups have come out against a proposal in the Republican measure to repeal or rewrite major parts of the Dodd-Frank Act to replace the Federal Insurance Office with a new Office of the Independent Insurance Advocate, saying there is no need for either entity
  • CNA named Nick Creatura as president and CEO of its Canadian operation after recruiting him from RSA, where he was executive vice president and chief financial officer for Canada
  • Insurance giant Chubb avoided the uptick in cat losses that has emerged as a trend of the first quarter reporting season to deliver a 15.3 percent gain in operating income
  • Shares in Universal Insurance Holdings went up as much as 13.7 percent today to a high of $26.55 per share as investors welcomed the company's strong set of first quarter results.
  • Arch Group beat consensus expectations for the third quarter in a row with operating earnings of $1.42 per share versus Wall Street's $1.32 per share estimate, mostly thanks to added profits from the UGC mortgage book.
  • Generali Global Corporate & Commercial (GC&C) has hired a trio of senior underwriters and opened offices in Chicago and San Francisco, in a move that will bolster the Italian carrier’s US footprint.
  • (Re)insurers should not obsess over pure innovation and must look to other sectors for industry-changing ideas, according to XL Accelerate chief executive Vincent Branch.
  • XL Catlin has hired two additional M&A insurance underwriters in the US, the company has said.