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Insurance
Swiss Re faces $3.6bn nat cat losses in Q3
Swiss Re said on Oct. 20 that it estimates combined losses from the hurricanes Harvey, Irma and Maria and the earthquakes in Mexico in the third quarter of 2017 to be approximately $3.6 billion, net of retrocession and before tax.   20 October 2017
Insurance
Neon launches marine joint venture in Italy
Specialist Lloyd's insurer Neon has launched an underwriting operation in partnership with Italian marine broker, Cambiaso Risso, who will have a minority shareholding in the joint venture.   20 October 2017
Insurance
Aon Benfield names EMEA & UK head of client services
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon, has appointed Leonora Siccardi as EMEA and UK head of client services.   20 October 2017
Insurance
ILS investors prepare for reloading
ILS investors are raising money and preparing to make new investments despite losses from recent natural catastrophes, according to the latest Willis quarterly ILS market update.   20 October 2017
Insurance
Hannover Re looks for 40-50% cat rate increases in Florida
Hannover Re is expecting significant property/casualty (P&C) rate increases, particularly in the regions affected by recent hurricanes in North America, but also elsewhere in the upcoming renewals.   20 October 2017
Insurance
California wildfire claims losses reach $1bn
The preliminary data on claims from the Californian wildfires reaches $1.05 billion in losses from commercial and residential structures, personal and commercial vehicles, and agricultural equipment, the California Department of Insurance said in an Oct. 19 press release.   20 October 2017
Insurance
Sompo reviews FY earnings forecast after nat cat hit
Sompo Holdings said on Oct. 20 that its incurred losses from natural catastrophes in the third quarter of 2017 are estimated at ¥70 billion ($620 million) before taxes and that it is now reviewing its full-year earnings forecast.   20 October 2017
Insurance
Manchester Underwriting appoints Munich Re exec as claims manager
Specialist managing general agent (MGA) Manchester Underwriting Management has appointed Dan Cooper as claims manager.   20 October 2017
Insurance
Zurich expects $700m Q3 nat cat impact
Multi-line insurer Zurich Insurance group said on Oct. 19 that it expects aggregate claims in the third quarter of 2017 related to hurricanes Harvey, Irma and Maria, for the group’s property & casualty business, to be approximately $700 million net of reinsurance and before tax.   19 October 2017
News
Buyers want no surprises
While reinsurers and brokers discuss the return of a market cycle most buyers just want a quiet life with no surprises—assuming they don’t feel underinsured in light of the recent hurricanes or cyber losses that have the potential to cause them sleepless nights. Intelligent Insurer reports.   18 October 2017

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