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The Camp and Woolsey fires in Northern and Southern California are putting 48,390 homes at high or extreme risk of wildfire damage with a total reconstruction cost value (RCV) of approximately $18 billion, according to data provider CoreLogic. 13 November 2018
Insurance
Marsh is combining the specialty teams of Marsh and Jardine Lloyd Thompson Group to create the Marsh-JLT Specialty unit, effective upon closing of the transaction between Marsh’s parent company, Marsh & McLennan Companies (MMC) and JLT. 13 November 2018
Insurance
New York-headquartered Transatlantic Holdings (TransRe) has invested in New Paradigm Group, a developer of parametric insurance and risk transfer solutions. 13 November 2018
Insurance
Reinsurance broker JLT Re has launched JLT Re Iberia through the acquisition of JLT March Re. 13 November 2018
Insurance
London-based Iotatech, a developer of insurance software as a service platform, has secured its target of £1 million of second round funding following a private placement. 13 November 2018
Insurance
New York-headquartered Assurant is adding three members to its management committee to “accelerate decision-making across all of the company’s most critical businesses and to support its global growth strategy,” according to a corporate statement. 13 November 2018
Insurance
Lloyd’s of London has opened its insurance subsidiary in Brussels which is set to allow the market to continue operating and serving its clients in the EU after Brexit. 13 November 2018
Insurance
Brit’s chief financial officer (CFO) Mark Allan has been appointed new chairman of the finance committee of the Lloyd’s Market Association (LMA). Allan succeeds John Dunn, CFO of Liberty Specialty Markets (LSM), in the role. 12 November 2018
Insurance
Specialist re/insurance broker BMS Group has hired Duncan Hayward as a director in its energy division. 12 November 2018
Insurance
The insurer made a net profit of €1.9 billion in the third quarter, an increase of 23.6 percent compared with the same period the year before. 9 November 2018
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