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IAG profits rise despite above-budget cat costs

IAG reported a 7 percent year-on-year increase in profits to A$1.18bn for its 2015-2016 financial year, which took into account higher-than-expected natural peril costs following storms on the east coast of Australia.

Lucy Jones, 19 August 2016
QBE moves Moore to Australian CUO role

QBE has appointed Declan Moore to the newly created role of chief underwriting officer of its Australian operation.

Matthew Neill, 19 August 2016
Californian wildfires continue to burn

Three wildfires were continuing to ravage the US state of California this morning with modelling firm RMS estimating that at least 220 buildings had been burned.

Dn Ascher, 18 August 2016
Reinsurers to lose $20mn from UPC-ACIC deal

United Insurance Holdings (UIH) CEO John Forney explained that one of the major motivations for its tie-up with Floridian insurer American Coastal Insurance Company (ACIC) was targeted savings in reinsurance spend.

Fiona Robertson, 18 August 2016
Marine next PPL class as finpro discovery phase ends

The Placing Platform Limited (PPL) board and market governance groups have agreed that marine will be the next class of business to use the technology following the rollout of financial and professional (finpro) lines.

Winifred Okocha, 18 August 2016
Rossi joins Perella Weinberg

Financial services firm Perella Weinberg Partners has hired Morgan Stanley executive director Mauro Rossi as managing director in its advisory business, it announced yesterday.

Winifred Okocha, 18 August 2016
Liberty launches Chinese P&C joint venture

Liberty Mutual Insurance has signed an agreement with Chinese conglomerate Sanpower Group to create a joint P&C operation.

Matthew Neill, 18 August 2016
Swiss Re: H1 cat losses up 51% to $31bn

Insured losses from natural and man-made catastrophes rose 51 percent year-on-year to reach $31bn in the first half of 2016, according to Swiss Re's Sigma unit.

Lucy Jones, 18 August 2016
Florida carriers United and American Coastal agree merger

Homeowners' carrier United Insurance Holdings (UIH) has agreed an all-stock merger with commercial specialist American Coastal to create the third largest player in the Florida residential property market.

Dan Ascher, 18 August 2016
Florida workers’ comp writers push for 20% rate hike

Hundreds of US insurers have taken to the courts in Florida to seek a double-digit increase in workers’ compensation rates in the state.

Matthew Neill, 17 August 2016

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