News
Insurance
Authorities have ordered more than 10,000 people to flee from “catastrophic” wildfires in north-east Australia while heavy rainfall in the south-east has caused flooding leaving at least two people dead, according to news reports. 29 November 2018
Insurance
Japans three major insurance groups Tokio Marine Holdings (TMHD), Sompo Holdings and MS&AD Insurance Group Holdings are expected to remain profitable in fiscal 2018 (April-March) despite record high domestic wind and flood catastrophe losses, according to Moody’s. 28 November 2018
Insurance
US-based multiple-line insurer Mercury General Corporation will pass on most of the expected $253 million losses from the Camp and Woolsey wildfires in California to reinsurers. 28 November 2018
Insurance
UK-based RSA Group has appointed Geoff Jones as director of its specialty and wholesale unit, part of its global risk solutions (GRS) business. 27 November 2018
Insurance
Syndicate Research (SRL) has changed the outlook for the Continuity Opinion of Lloyd's syndicate 2001 (MS Amlin Underwriting) to negative due to the “difficulty in turning around” the operation. 26 November 2018
Insurance
The US insurance industry has only limited exposure to PG&E Corporation, the California utility whose equipment is being investigated as having a potential role in the deadly Camp Fire, according to AM Best. 21 November 2018
Insurance
Syndicate Research Limited (SRL) has affirmed the A- (Good) Continuity Opinion of Lloyd's syndicate 2003 but has changed the outlook for the Continuity Opinion from stable to negative in light of the syndicate’s recent 5-year average performance relative to its Continuity Opinion peer group. 21 November 2018
Insurance
Bermuda-based specialist re/insurer Ascot has appointed John O’Brien as executive vice president and head of environmental. 19 November 2018
Insurance
Within the perimeters of the Camp Fire in Northern California and the Woolsey Fire in Southern California 23,044 homes with a total reconstruction cost value (RCV) of approximately $8.6 billion are at high or extreme risk of wildfire damage, according to CoreLogic estimates. 19 November 2018
Alternative Risk Transfer
Specialty re/insurer Brit has unveiled a new multi-arrangement insurance special purpose vehicle to write general collateralised reinsurance for multiple cedants via Brit’s distribution network in the London market. 19 November 2018
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