Search | The Insurer TV

NFIP pays out over $280mn in Imelda claims

News

Flood

NFIP pays out over $280mn in Imelda claims

The National Flood Insurance Program (NFIP) has paid over $280mn to Texas policyholders from Tropical Storm Imelda.

Mon 4 Nov 2019

Samsung completes $150mn Canopius investment

News

Results

Samsung completes $150mn Canopius investment

Korea’s largest non-life insurer, Samsung Fire & Marine Insurance (SFMI), has completed its investment in Canopius for a stake worth $150mn, as the top-five Lloyd’s insurer targets international growth.

Mon 4 Nov 2019

AmWINS confirms Kaplan hire from Swiss Re

News

People Moves

AmWINS confirms Kaplan hire from Swiss Re

Wholesale giant AmWINS Group has confirmed Alex Kaplan has joined as executive vice president for alternative risk, in a move first revealed by The Insurer.

Mon 4 Nov 2019

News

Beazley adds CNA Hardy’s Shastri to expand life sciences

Beazley has hired Kirsten Shastri as UK and international life sciences underwriter, as the carrier looks to target increasing numbers of digital healthcare packages coming online.

Mon 4 Nov 2019

BMS confirms hire of Willis Re’s Irvan as CPO

News

People Moves

BMS confirms hire of Willis Re’s Irvan as CPO

BMS has appointed Jeff Irvan as chief property officer, US reinsurance, with immediate effect – in a move first revealed by The Insurer.

Mon 4 Nov 2019

News

Fidelis launches product recall MGA with Hiscox’s Bailey

Fidelis has taken an equity stake in, and will provide underwriting capacity for, a new MGA called Perigon Product Recall through its Pine Walk Capital platform, following the hire of Ian Bailey from Hiscox.

Mon 4 Nov 2019

News

AIR Worldwide releases Indian crop insurance model

Catastrophe risk modelling firm AIR Worldwide has released a multiple peril crop insurance (MPCI) model for India.

Mon 4 Nov 2019

News

Equinox Global rebrands as Nexus Specialty

London-based managing general agent Nexus Group has rebranded its US operation Equinox Global as Nexus Specialty as it seeks to step up its ambitions in the North American specialty markets.

Mon 4 Nov 2019

Hiscox shares dip as analysts note high cat losses

News

Results

Hiscox shares dip as analysts note high cat losses

Shares in London-listed carrier Hiscox fell this morning following a trading statement which estimated $165mn net losses from H2 cats including Typhoon Hagibis, noted US casualty claims inflation and predicted a higher-than-expected combined ratio of 97-99 percent in its retail arm.

Mon 4 Nov 2019

Berkshire Hathaway has “below-average” disclosure: KBW

News

Results

Berkshire Hathaway has “below-average” disclosure: KBW

Keefe, Bruyette & Woods (KBW) analyst Meyer Shields has criticised “persistently inadequate” disclosures from Berkshire Hathaway, despite better than expected operating earnings in its 2019 third quarter results released this weekend.

Mon 4 Nov 2019

Hiscox pegs H2 cat losses at $165mn; warns on US casualty claims

News

Results

Hiscox pegs H2 cat losses at $165mn; warns on US casualty claims

Hiscox Ltd estimates net losses from Hurricane Dorian and the Japanese Typhoons Faxai and Hagibis at $165mn and warned that it is also experiencing some “increased claims activity” in a number of long-tail US casualty lines, in its nine months trading statement this morning.

Mon 4 Nov 2019

Berkshire Hathaway P&C reinsurance UW improves despite Q3 cat losses

News

Results

Berkshire Hathaway P&C reinsurance UW improves despite Q3 cat losses

The Berkshire Hathaway P&C reinsurance unit that houses Gen Re delivered a pre-tax underwriting gain of $314mn for the third quarter that was well ahead of the $67mn reported in the prior-year period despite a $281mn estimated hit from Typhoon Faxai in Japan.

Sat 2 Nov 2019

Court gives FIGA green light to pay Florida Specialty claims

News

Homeowners insurance

Court gives FIGA green light to pay Florida Specialty claims

A judge has ruled that the Florida Insurance Guaranty Association (FIGA) may make claims and unearned premium payments to Florida Specialty Insurance Company (FSIC) policyholders without the court making a new insolvency finding.

Fri 1 Nov 2019

Several troubled Florida companies for sale: Heritage CEO

News

Homeowners insurance

Several troubled Florida companies for sale: Heritage CEO

The CEO of Heritage Insurance has commented that there are “a number of companies for sale” in Florida but his company is not looking to do any deals at the moment.

Fri 1 Nov 2019

Lexington submissions soar in Q3, despite slashing limits

News

Casualty

Lexington submissions soar in Q3, despite slashing limits

AIG General Insurance CEO Peter Zaffino has hailed the strong turnaround at E&S unit Lexington while revealing details of the accelerating price increases the insurance giant is obtaining.

Fri 1 Nov 2019

AIG reveals its maximum Hagibis net loss excluding Validus is $75mn

News

Losses

AIG reveals its maximum Hagibis net loss excluding Validus is $75mn

AIG’s general insurance CEO Peter Zaffino has revealed the insurer’s maximum net loss from Typhoon Hagibis is $75mn not including losses at Validus, which has a retro aggregate cover attaching at another $155mn in cat losses.

Fri 1 Nov 2019