Articles
Insurance
The Bermuda Monetary Authority (BMA) has appointed Jeremy Cox as its new executive chair for a three-year term, replacing Gerald Simons who is retiring as chair of the board. 18 January 2019
Insurance
Private US property/casualty insurers reported a $4.7 billion net underwriting gain in the first nine-months of 2018, a sharp turnaround from a $21.0 billion net underwriting loss a year earlier, according to data by Verisk unit ISO and the American Property Casualty Insurance Association (APCI). 17 January 2019
Insurance
Bermuda-based Maiden Holdings has sold its European automotive group AVS Automotive VersicherungsService to German insurer Allianz. 17 January 2019
Insurance
AM Best has warned that uncertainty as to the UK’s future trading relationship with the EU has increased following the vote in the House of Commons on Jan. 15, 2019, rejecting the deal terms agreed with the EU by Prime Minister Theresa May’s government. 17 January 2019
Insurance
Michigan-based insurance broker Acrisure is issuing $500 million of five-year senior secured notes to help fund acquisitions. 17 January 2019
Insurance
Bermuda-based Blue Capital Reinsurance Holdings has raised its fourth quarter catastrophe loss estimates to $30.0 million net of reinsurance and reinstatement premiums from $17.0 million as of Dec. 11, 2018. 17 January 2019
Insurance
Julio Portalatin has been appointed vice chairman of Marsh & McLennan Companies (MMC). 17 January 2019
Insurance
Specialty insurer Beazley has appointed Sally Lake as new group finance director, replacing Martin Bride who is stepping down in May 2019. 17 January 2019
News
Swiss Re has estimated its preliminary combined claims burden from recent natural catastrophes booked in the fourth quarter of 2018 at approximately $1.0 billion, net of retrocession and before tax, mainly affecting the reinsurance operations. 15 January 2019
Insurance
Mondelez, the US food company that owns the Oreo and Cadbury brands, is suing Zurich Insurance for refusing to pay out on a $100 million claim for damage caused by the NotPetya cyber attack in what is seen as the first major legal dispute over how companies recover the costs of a cyber-attack. 15 January 2019
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