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Insurance
Open-loss modelling “significant as first cat models” says pioneer
A new generation of catastrophe models could be completely transparent to their users – heralding a seismic change in the way risk models are built and used, which could be as significant a change for the industry as when the very first cat models were built in the early 1980s.   9 June 2017
Insurance
Helios Underwriting in £1m Lloyd’s Nottus acquisition
Helios Underwriting said on June 9 that it agreed to acquire Lloyd's limited liability member Nottus No 51 Limited for a consideration of £964,500 in cash.   9 June 2017
Insurance
AIG in $600m Arch share sale
Bermuda-based Arch Capital Group said June 8 that it launched an underwritten public secondary offering of 6,381,410 common shares "by certain selling shareholders affiliated with American International Group."   9 June 2017
Insurance
Colorado hail event costs insurers $1.4bn
Damage from up to softball-sized hail in May in Colorado led to insurance payouts of more than $1.4 billion, according to Aon Benfield's monthly Global Catastrophe Recap report.   9 June 2017
Insurance
Australia's IAG purchases additional A$1bn catastrophe reinsurance cover
General insurer Insurance Australia Group (IAG) has purchased an additional reinsurance protection worth A$1 billion ($750 million) against major disasters.   9 June 2017
Insurance
Berkshire settles California’s 'bait and switch' insurance dispute
Berkshire insurance subsidiaries have reached an agreement with California’s Department of Insurance by committing to lower rates, improved disclosures, and limiting sale of their worker’ compensation insurance.   9 June 2017
Insurance
Lockton names new president of Houston P&C operation
Insurance broker Lockton has named Jeff Henningsen as president of its Houston property and casualty insurance operation.   9 June 2017
Insurance
US Risk hires vice president from Essent Group
Texas-based specialty lines underwriting manager and wholesale broker US Risk has hired Matthew McCampbell as executive vice president of corporate strategy and development.   9 June 2017
Insurance
Topa appoints Chang to manage reinsurance operation
US-based Topa Insurance has named Olive Chang assistant vice president of reinsurance and programmes, based in the company's Calabasas, California office.   9 June 2017
Insurance
CNA Hardy selects Luxembourg for EU unit after Brexit
Specialist commercial insurer CNA Hardy will form a new European subsidiary in Luxembourg after Brexit, and appoint a local management team to oversee its risk, finance and compliance functions.   6 June 2017

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