News
Insurance
Bermuda-based Everest Re CEO Dominic (Dom) Addesso has explained how the reinsurer miscalculated the cat losses from 2018 which made the company issue a profit warning for its second quarter 2018 results. 1 August 2018
Insurance
The Generali Group has improved the property/casualty (P&C) operating performance in the first half of 2018, driven by a better technical result. 1 August 2018
Insurance
American International Group (AIG) is selling 19.9 percent of its legacy portfolio DSA Re to private equity firm The Carlyle Group. 1 August 2018
Insurance
Assicurazioni Generali group chief financial officer (CFO) Luigi Lubelli is leaving the company as the Italian insurer restructures the business. 1 August 2018
Insurance
XL Group’s insurance segment produced an underwriting loss in the second quarter of 2017 due to higher large loss activity. 1 August 2018
Insurance
US-based The Hanover Insurance Group has appointed Eric Cernak as the head of its cyber practice. 1 August 2018
News
Mergers and acquisitions (M&A) in the global insurance industry rose in the first half of 2018 with 186 completed deals worldwide, up from 180 in the second half of 2017, according to Clyde & Co’s Insurance Growth Report mid-year update. 1 August 2018
Insurance
London-based FloodFlash, a startup that wants to offer insurance for previously uninsurable flood risk, has raised £1.9 million in seed funding from LocalGlobe, Pentech Ventures and InsurTech Gateway. 1 August 2018
Alternative Risk Transfer
The Federal Emergency Management Agency (FEMA) has secured $500 million in reinsurance for its National Flood Insurance Program (NFIP) through capital markets. 1 August 2018
Insurance
Favourable development in prior year loss reserves have given Bermuda-based Arch Capital Group’s earnings a boost in the second quarter of 2018. 1 August 2018
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