Claims and losses

That figure accounts for the bulk of AIG’s $445mn unfavourable reserve development, pre-adverse development cover.

Proposed legislation is backed by the California Insurance Commissioner.

The MS&AD unit pegs losses from Hurricane Michael and the California wildfires in the final quarter of last year at about $234mn.

Shares rise more than 5 percent after the company beats expectations and delivers a positive outlook.

The Australian financial services group has seen its bottom line suffer at the hands of heightened nat cat activity.

Andy Corton will join the carrier’s marine operation.

Rates softened slightly as buyers returned to the market.

Mercury General has a $10mn retention on its existing programme, and is thinking about buying more limit at the 1 July renewal.

Mercury General has reported cat losses of $43mn net of reinsurance for Q4 2018.

An uptick in natural catastrophes as well as worsening property losses and professional liability claims pushed the group to a loss.

On their way to medals, knighthoods, eternal Olympic glory etc, British cycling giants such as Sir Bradley Wiggins, Victoria Pendleton CBE and Sir Chris Hoy were imbued with a singular driving philosophy which underwrote their path to success.

Insurers had received 13,560 claims as of Sunday.