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Alternative Risk Transfer
Hurricane Irma is expected to cause much higher insured losses than Hurricane Harvey and may result in a capital event for re/insurers, said a report published Sept. 8 by S&P Global Ratings. 9 September 2017
Insurance
Direct Line Insurance Group has appointed Penny James as chief financial officer and executive director on its board, effective Nov. 1. 9 September 2017
Insurance
With total economic losses estimated to reach tens of billions of dollars at the minimum, Harvey is likely to become one of the costliest natural disasters on record, according to Aon Benfield’s catastrophe model development team Impact Forecasting. 9 September 2017
Insurance
The US Congress has extended the deadline to renew or repeal its National Flood Insurance Program (NFIP). 9 September 2017
Insurance
Reinsurance broker Guy Carpenter & Company, a wholly owned subsidiary of Marsh & McLennan Companies (MMC), has appointed Andre Eisele as CEO of the Pacific Region. 8 September 2017
Alternative Risk Transfer
Catastrophe bond issuance has reached a record high in the 12-month period ending June 30, 2017, while alternative capital reached a new high, according to Aon’s September 2017 Insurance-Linked Securities report. 7 September 2017
Insurance
Validus Holdings subsidiary Validus Specialty Underwriting has expanded the capacity of its Political Risk Insurance (“PRI”) binding authority from its New York office at renewal. 7 September 2017
Insurance
The UK government’s new proposal for the personal injury Ogden discount rate could mean reserve releases for re/insurers of up to £2.5 billion, according to consultancy firm EY. 7 September 2017
Insurance
Swiss insurer Zurich has appointed Peter Huber as CEO of its international business. 7 September 2017
Insurance
Specialist re/insurance broker BMS Re US has appointed Paul Knutson as executive vice president, based in the company’s Minneapolis office. 7 September 2017
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