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IBC pegs Fort McMurray wildfire losses at $2.8bn

Wildfires in Fort McMurray, Alberta, last May caused insured damage of about C$3.70bn ($2.80bn), the Insurance Bureau of Canada (IBC) said

Laura Board, 09 January 2017
Brit expands sidecar to $110mn

Brit has renewed and increased the collateralised reinsurance capacity provided by its Versutus sidecar by 33 percent, it announced today

Charlie Thomas, 09 January 2017
AIG targeted in structured settlements RICO lawsuit

AIG's property and casualty operation, through affiliates, "secretly" collected 4 percent commissions from annuities set up under structured insurance settlements arranged by approved brokers, a lawsuit brought by three people in a US District Court in Boston has alleged.

Ted Bunker, 07 January 2017
Reinsurers survived 2016 in ‘reasonable’ shape: AM Best

Despite pressures from overcapitalization and persistent low rates, reinsurers as a class will still post "reasonable" results for 2016, credit-rating company AM Best said, citing the lack of large US catastrophe losses and favourable reserve developments.

Ted Bunker, 07 January 2017
PA market faces $35mn baseball claim

The personal accident (PA) market is bracing itself for a $35mn permanent total disablement loss from US baseball team the Texas Rangers following the career-ending injury of player Prince Fielder, The Insurance Insider can reveal

Adam McNestrie, 06 January 2017
Reinsurance capital growth returned in 2016: Aon Benfield

Reinsurance capital increased by 5.3 percent to $595bn through the first nine months of 2016 in a turnaround from the 2 percent decline recorded for the full-year 2015, according to an Aon Benfield report following the 1 January renewals

Charlie Thomas, 06 January 2017
Compre acquires AG Insurance’s run-off book

Compre has finalised a deal to take on the insurance and reinsurance run-off books of the UK branch of Belgium's AG Insurance

Dan Ascher, 06 January 2017
Pryce appointed to Franchise Board

QBE Europe CEO Richard Pryce has been named as a non-executive director on the Lloyd's Franchise Board.

Matthew Neill, 06 January 2017
Indian brokers oppose right of refusal rules

Indian (re)insurance brokers have called for the abolition of right of first refusal rules for reinsurance business in the country, claiming the proposed regulations are anti-competitive.

Catrin Shi, 06 January 2017
Arch Capital downgraded by Moody’s on UGC completion

Moody's Investors Service has downgraded the ratings of Arch Capital following completion of its $3.4bn purchase of United Guaranty Corp (UGC) from AIG on Tuesday (3 January)

Laura Board, 06 January 2017

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