News
Insurance
Bermuda-based re/insurer Arch Capital Group has estimated pre-tax losses of $110 million to $130 million related to 2018 fourth quarter catastrophic events, primarily due to Hurricane Michael and the California wildfires. 11 January 2019
Insurance
Specialty insurer Beazley has partnered with Hong Kong-based coverholder Pegasus Underwriting (PUL) to expand its financial lines offering in Asia. 11 January 2019
Alternative Risk Transfer
Pacific Investment Management Company (PIMCO), the asset management company owned by Allianz, has recruited Rick Pagnani, the former chief executive of Everest Re’s sidecar Mt. Logan Re, as head of its ILS business. 11 January 2019
Insurance
Stonybrook Capital, the investment bank focused on the insurance industry, has strengthened its executive team with two hires, one from JLT Capital Markets, and one promotion. 11 January 2019
Insurance
Bermuda-based run-off specialist Premia Holdings has acquired an Illinois-based property/casualty insurer that was being managed by the Illinois Department of Insurance after being placed into rehabilitation in 2017. 11 January 2019
Insurance
Spanish re/insurer Mapfre has appointed Chris Smith as its new chief global brokers officer. 10 January 2019
Insurance
Marsh & McLennan Companies (MMC) has outlined pricing plans to issue $5 billion of senior debt across six different bonds used to fund its acquisition of JLT Group. 9 January 2019
News
Losses for insurers stemming from natural catastrophes were substantially higher than the long-term average in 2018 with an eventful second half of the year contributing to a high overall loss figure of $160 billion, half of which was insured, according to a report by Munich Re. 9 January 2019
Insurance
Everest Re is seeking a new chief executive following the announcement that its current head, Dominic Addesso, will retire at the end of 2019. 9 January 2019
Alternative Risk Transfer
US insurer Liberty Mutual has secured $150 million of collateralised reinsurance capacity through its Bermuda domiciled segregated account company Limestone Re. 9 January 2019
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