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Maiden’s commercial auto losses force a $120mn charge

Bermuda-based reinsurer Maiden, which has a significant quota share with AmTrust, bolstered reserves by around $120mn in the fourth quarter mainly to adjust for commercial auto losses over four years through to 2014

Dan Ascher, 15 February 2017
Huge reserve charge drops AIG to $2.8bn Q4 loss

AIG took a giant $5.6bn fourth quarter reserve charge that helped send it to a $2.79bn loss for the period, the insurer said today.

David Bull, 15 February 2017
State Auto beats Street view on fourth quarter profit

State Auto surpassed the fourth quarter profit estimates of Wall Street analysts by posting operating earnings of $0.46 a share even as drag from its auto lines held back its overall performance.

Ted Bunker, 15 February 2017
Orchid targets admitted homeowners’ market with Spinnaker

US coastal wind-focused managing general agency (MGA) Orchid Underwriters has teamed up with programme insurer Spinnaker to roll out admitted residential homeowners' coverage in the US.

David Bull, 14 February 2017
RMS appoints McKinsey’s Pritula as president

Risk modelling agency RMS has appointed Mike Pritula as president, with effect from 1 March.

Laura Board, 14 February 2017
Allied World hires Australia onshore construction head

Allied World Global Markets has appointed Karsten Buescher as assistant vice president for onshore construction business in Australia

Matthew Neill, 14 February 2017
Nichols resigns as Axis Re CEO

Axis Re CEO Jay Nichols has stepped down from his role, the company announced today.

Matthew Neill, 14 February 2017
MS Amlin joins Flood Re

MS Amlin has signed up to take part in UK government-backed flood insurance scheme Flood Re.

Catrin Shi, 14 February 2017
WTW restates 2016 cash flows

Global broker Willis Towers Watson has restated 2016 cash flow figures to reflect a $47mn reduction in net cash from operating activities compared to the figure reported in its fourth quarter results

Matthew Neill, 14 February 2017
Tokio Marine international profit surges on HCC expansion

Specialty insurance growth at Tokio Marine HCC contributed to a 22 percent increase in nine-month non-life international profits at parent company Tokio Marine, according to company filings.

Catrin Shi, 14 February 2017

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