News

Insurance

Record high cat losses hit Japan’s P&C insurers

The costs from the extensive casualty and property damage caused by these catastrophes such as typhoons Jebi and Trami are likely to result in record high gross domestic wind/flood catastrophe losses to the Japanese property and casualty (P&C) insurance industry in fiscal year 2018, according to Moody’s.   21 November 2018

Insurance

JLT Re CEO steps down

Mike Reynolds, CEO of JLT Re has stepped down from his position.   21 November 2018

Insurance

Generali to invest €1bn in digital innovation

Italian insurer Generali wants to invest around €1 billion in internal strategic initiatives for innovation and digital transformation as part of its 2021 three-year strategic plan.   21 November 2018

Insurance

Arch appoints new international CEO, reshuffles leadership

Arch Insurance has appointed Hugh Sturgess as the new CEO of Arch Insurance International, succeeding Matt Shulman who was recently named CEO of Arch Insurance North America.   21 November 2018

Insurance

Insurers’ exposure limited in PG&E wildfire investigation: AM Best

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

China non-life margin pressure lingers: Fitch

Fitch Ratings sees ongoing pressure on underwriting margins and expects catastrophe claims to continue to undermine insurers’ operating stability.   21 November 2018

Insurance

Catlin syndicate 2003 outlook changed to negative

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

Aon taps Guy Carp exec for Asia reinsurance business

Re/insurance broker Aon has appointed Richard Jones as executive chairman of its reinsurance solutions business in Asia.   21 November 2018

Insurance

JLT Re's Howard joins Guy Carpenter as vice chair

Reinsurance broker Guy Carpenter & Company, a wholly owned subsidiary of Marsh & McLennan Companies, has appointed Ross Howard, chairman of JLT Re, to become vice chairman of Guy Carpenter.   21 November 2018

Insurance

Chubb, Travelers lead California wildfire loss table: KBW

Chubb and Travelers are expected to bear the highest losses from the wildfires in north and south California, according to KBW research.   20 November 2018

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