News – Page 60
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NewsAM Best’s ranks top 50 reinsurers: Munich Re, Swiss Re make up a quarter of GPW
Munich Re was ranked top, across non-life and life business, followed by Swiss Re, Hannover Re, Canada Life Re and Berkshire Hathaway.
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NewsBrazilian broker Latin Re gets Lloyd’s broking licence
Founded in 2019, Latin Re becomes the first Brazilian brokerage to secure a Lloyd’s licence.
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NewsKCC estimates Hawaii property losses at $3.2bn
Karen Clark & Company (KCC) has estimated the property insurance losses arising from the wildfires in Maui to be around $3.2bn.
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NewsMaui wildfires to surpass $1bn insured loss estimate – Moody’s
The devastating Maui wildfire is likely ranked among the most costly insured catastrophes in Hawaii’s history.
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NewsVesttoo seeks ‘breathing space’ with Chapter 11 bankruptcy filing
Insurtech firm Vesttoo has filed for Chapter 11 bankruptcy within Delaware, according to multiple reports.
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NewsNOAA ups its Atlantic hurricane season prediction
The National Oceanic and Atmospheric Administration (NOAA) has raised the Atlantic hurricane season prediction to ‘above normal’, in a statement posted to its website.
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NewsLiberty Mutual reports $660m net loss in the first six months
Liberty Mutual has reported net losses of $585m and $660m in the first three and six months of this year.
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NewsQBE reveals disappointing H1 underwriting result
QBE North America posted a 106.9% combined ratio for the first six months, with a group-wide combined ratio barely into profit at 98.9%.
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NewsLaw firm Dentons quits China amid counter-espionage law fears
Dentons announced its split from its Chinese entity, Beijing Dacheng, citing concerns about data protection and cybersecurity since China’s new spying law took force in July.
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NewsLancashire performs at H1 with premium and profit rises
Gross premiums increased by 26% at the Bermuda-based re/insurer, while profit after tax soared to $159m.
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NewsHiscox performance improves at H1 – driven by reinsurance and London market arms
“Leaning into the hard market”, the group allocated additional organic capital to the Hiscox Re & ILS business.
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NewsLloyd’s veteran Peter Spires steps down as general counsel
Head of legal Claire Schrader assumes the role of general counsel at Lloyd’s on an interim basis.
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NewsSevere US storms broke records for H1 nat cat losses – Swiss Re
Severe convective storms drove global natural catastrophe insured losses, which reached $50bn across all perils, according to the Swiss Re Institute.
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NewsGallagher Re: Insurtech funding falls in second quarter
Insurtech is un a secondary phase, focusing on the ‘how’ rather than the ‘what’ says reinsurance broker’s global head of insurtech.
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NewsHannover Re thinks profits are on target for 2023
The German reinsurer had a second quarter combined ratio of 90.8% and 91.7% for the first six months.
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NewsHowden’s DUAL completes David Ashby Underwriting MGA acquisition
The bloodstock business adds to DUAL’s growing MGA book of business.
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News
Aon names MacMillan chief broking officer for UK commercial risk
Aon’s new top broker for UK commercial business previously worked in senior roles at Aviva, Marsh and Ardonagh.
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NewsMiller appoints Holloway as its head of Europe
Hired from Marsh, Oscar Holloway joins rival specialty and reinsurance broker Miller.
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NewsAIG Re CEO Schaper to be global CUO after Validus Re sale completes
Schaper will be appointed AIG’s global CUO on completion of the sale of Validus Re to RenRe.
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NewsPartnerRe reports H1 return to profit
Bermuda-based reinsurer bounced back to net income of $787m in the first six months of 2023, for a combined ratio of 83.5%.
