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Insurance
The US property/casualty (P&C) industry is set to post a second consecutive underwriting loss in 2017, driven mainly by catastrophe losses, according to AM Best estimates. 7 February 2018
News
Hannover Re has raised its group net income estimates for 2017 to €950 million from €800 million and set a new target for the current financial year. 7 February 2018
Insurance
Commercial insurer Markel reported a comprehensive income to shareholders of $1.2 billion for 2017 compared to $667.0 million in 2016. 7 February 2018
Insurance
Re/insurer QBE is realigning its operating model to take a more customer-centric approach. The move has resulted in several people moves, and creation of two new portfolios in its Australian and New Zealand operations. 7 February 2018
Insurance
Hannover Re has expanded the premium volume in traditional property/casualty (P&C) reinsurance by 12.7 percent, according to a Feb. 7 press release. 7 February 2018
Insurance
Jardine Lloyd Thompson Group (JLT) has hired AIG's former aerospace and marine leader Joe Trotti to become the broker’s global practice head of aviation, and join its new global specialty leadership team. 7 February 2018
Insurance
Property/casualty insurer Chubb has hired Michael Smith as its new chief claims officer. He was most recently chief transformation officer at AIG. 6 February 2018
Alternative Risk Transfer
The amount of capital dedicated to writing reinsurance will increase to an estimated $427 billion in 2017, compared with $420 billion in 2016, according to AM Best. 5 February 2018
Insurance
The global reinsurance market remains challenged by various market forces that will continue to shape the landscape over the near term. The recently announced acquisition of Validus Re by AIG is just the latest chapter in the evolution of the traditional reinsurance model, where specialty focused businesses seek shelter as part of a significantly larger globally diversified enterprise. 2 February 2018
Insurance
Validus Holdings made a loss in 2017 but it enjoyed solid growth and, as the company prepares for life owned by AIG, its CEO said it has been able to take advantage of rate increases while reducing its peak US hurricane exposure. 2 February 2018
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