Published by this author:
-
The start-up fronting and risk sharing carrier was given a preliminary A- rating in March.
-
The Florida insurer took $17mn of weather-related losses.
-
The insurer’s Q2 earnings of $0.81 per share slightly missed analyst expectations.
-
Heritage’s CEO Bruce Lucas said he has seen worsening claims abuse in the state despite the legislative reform.
-
The Bermudian alternative asset manager has named Validus' Jeff Sangster as partner, CFO and head of strategy.
-
The insurer has “several hundred million” of private reinsurance limit remaining. -
Profit at the carrier fell from $2.4mn to $0.7mn year on year.
-
The withdrawal of Catco created retro opportunities for the reinsurer, according to the CEO.
-
The insurer expects to report $16mn in net catastrophe losses for the second quarter.
-
The carrier reported it will absorb $17mn in gross catastrophe losses from Q2.
-
Sean Downes will remain with the business as executive chairman.
-
The personal line carrier’s Camp Fire loss estimate is believed to have fallen from $1.8bn to $1.75bn.
-
Research by the broker shows the ILS industry contracted by $4bn in the first quarter to $93bn, with $15bn of capital still trapped.
-
The ratings agency says the legislation is a step in the right direction but flags there could be loopholes in the new law.
-
The insurer expanded its property catastrophe excess of loss (XoL) reinsurance programme ahead of its imminent acquisition of 1347 Property Insurance Holdings (PIH).
-
The Californian utility company reached the agreement with 18 public entities after a series of wildfires between 2015 and 2018.
-
The capped increase compares with an 8.5 percent rise envisaged before the measures to curb assignment of benefits abuse.
-
The Florida-based insurer is looking to drop the rate increase for personal lines policyholders from 8.2 percent to 4.7 percent.
-
Kean Driscoll had been CEO of Validus’ reinsurance division since 2012, becoming president of Validus Holdings in 2017.
-
Up to 60 tornadoes struck eight midwestern states on Monday, NOAA has reported.
-
The law was approved by the Florida legislature in late April.
-
The board of governors approved the increase during a teleconference on Friday, noting that losses in personal lines accounts due to hurricanes have decreased its surplus.
-
The fund currently has a 5 percent cap on reimbursements for loss adjustment expenses.
-
The new venture has been assigned financial strength ratings of A- by AM Best.
-
Keith Harrison has resigned from the merged reinsurance business at Guy Carpenter following the paying-out of retention bonuses last week.
-
The bill now goes to the governor to be signed into law.
-
Around $11mn of the losses relate to the late-March hailstorm in Brevard County, Florida.
-
The executive will lead on reinsurance in Bermuda for the soon to launch Catlin venture.
-
The increase gives an early indication that reinsurers may be able to secure significant increases at this year’s Floridian renewals.
-
The Senate proposal would push the state reinsurance scheme to lift its cap on covering loss adjustment expenses.
-
FedNat agreed to acquire 1347 PIH’s homeowners’ insurance operations.
-
Colorado State University scientists predict 13 tropical storms in 2019.
-
The firm's chief commercial lines underwriter has left, as it separately announced expansion into North Carolina and New York.
-
Cat bonds in future are likely to cover new perils, such as aviation hull, terror and cyber, JLT Re’s David Flandro said.
-
Reinsurers anticipate a “correction” in property cat prices at Japanese and Florida renewals.
-
The reported estimates from insurers have increased by up to 140 percent since Q3 2017.
-
Bermuda was included on the EU’s 2015 blacklist.
-
Heritage’s CEO said an uptake in participation from the state’s Cat Fund could remove $3bn of demand from the private market.
-
The reinsurer’s financial strength rating of B++ had been under review with negative implications.
-
The utility’s total pre-tax charges for the 2018 Camp Fire and 2017 Northern California wildfires now stand at $14bn.
-
The insurer posted a net loss of $9.3mn for Q4 2018.
-
In a note to investors Matt Carletti ranked catastrophe aggregate programmes as being set to see the largest price rises.
-
The deal will be financed through cash and the issuance of FedNat shares.
-
The insurer’s net Q4 2018 catastrophe losses ticked up by $6mn above initial estimates to $43mn.
-
Hurricane Michael generated a larger loss for the carrier than 2017’s Irma.
-
-
The Bermudian specialty carrier also announced that it had strategically increased the use of its third-party capital.
-
The updated $110mn to $130mn estimate is more than double the prior projected Q4 loss ahead of the wildfires.
