Claims and losses

German (re)insurer Talanx has reduced its 2018 group net profit outlook by EUR150mn ($174mn) to EUR700mn after suffering from a series of large industrial claims and a spate of frequency losses.

The estate agency photography service is seeking to branch out into insurance.

The Insider 50 fell by 5.2 percent last week amid a wider sell-off prompted by US interest rate worries.

CoreLogic has revised upwards its earlier Hurricane Michael insured loss estimate of $2bn to $4.5bn.

First Protective and USAA lead the list in terms of market share.

As Hurricane Michael moves off the east coast of the US, it seems that (re)insurers have collectively shrugged off concerns about it being a material insured event.

KCC estimates that nearly half of its predicted $8bn insured loss occurred in Florida’s Bay and Gulf counties.

As Hurricane Michael hurtled towards the Florida Panhandle yesterday, The Insurance Insider editorial team hit the phones to work out how big a deal this event is for this industry.

The record-breaking Cat 4 storm could worsen after making landfall.

The relatively sparsely populated location of Hurricane Michael’s landfall suppresses demand for top-up cover.

Analyst Jonny Urwin predicts Swiss Re could fall the furthest short of consensus in upcoming third-quarter results.

CCRIF and its predecessor have paid out $136mn in total since 2007.