29 July 2016

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Fort McMurray D&F wildfire losses mount

A picture is slowly emerging of the cost to (re)insurers of commercial property losses arising from the northern Alberta wildfires in May, with damage to a housing estate and a post-secondary college the latest to be reportedRead more

Claims woes continue for Swiss Re Corporate Solutions after North American single-risk hits

The troubling 2016 claims experience for beleaguered Swiss Re Corporate Solutions (SRCS), the industrial insurance arm of the reinsurer, has continued in the second quarter after it absorbed two large man-made North American casualty lossesRead more

Karfunkels cancel ACP Re reinsurance deals

The Michael Karfunkel Family 2005 Trust is to inject $200mn of capital into Tower Group acquisition vehicle ACP Re to cover reserve deteriorations and will cancel an outwards reinsurance deal with AmTrust and National General Holdings, which would probably otherwise have been hitRead more

Lancashire dodges Q2 cat bullet

Lancashire appears to have avoided the worst of the second quarter series of catastrophe events, with its exposure to the Fort McMurray wildfire and Q2 energy losses contained within the company's reinsurance programme, according to group CFO Elaine WhelanRead more

Scor H1 P&C profits hit by Q2 cats

Scor's property casualty insurance business Scor Global P&C saw operating profits fall 47 percent to EUR103mn ($113mn) in the first half of 2016, due to the impact of Q2 catastrophe lossesRead more

Brit H1 underwriting decline bolstered by investments

Underwriting profits at Brit Insurance fell by two-thirds during the first half of 2016, while the group's operating profits increased by a whopping 280 percent, boosted by strong investment returnsRead more

XL latest to suffer Q2 cat sting

XL Group has joined the long parade of carriers suffering extensive losses from the spate of large losses in the second quarter of 2016 as operating profits fell to $106.4mn, a 57 percent decline on the $245.8mn posted in Q2 2015Read more

WR Berkley reinsurance profits hit by cats

Pre-tax income in WR Berkley's reinsurance division was down 37 percent in the second quarter, from $27mn to $17mn, compared to the prior year period, as catastrophe activity took its tollRead more

Argenta hires energy and political risks underwriters

Argenta Holding's Singapore-based subsidiary Argenta Underwriting Asia (AUA), has appointed Ian Picton as energy underwriter for the Asia Pacific region, reporting to Argenta Syndicate 2121's principal underwriter in Asia, Scott SykesRead more

News analysis

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Miles Osorio

D&F expectations

Miles Osorio, Head of Property D&F, Hamilton UnderwritingRead more

Orbital Blues

As losses ratchet up, capacity continues to flow in and premiums become ever more stretched, the niche space (re)insurance market appears to be nearing an inflection pointRead more

Passport to Pimlico?

While the UK government may not have made detailed contingency plans for a post-EU world, mercifully it seems that the London market is more prepared, as Inside FAC discoversRead more

The FAC Door

XL Catlin has promoted Christophe Chandler to head of specialty reinsurance, London. The executive will relocate from Bermuda to take up his new roleRead more

Marcus - sketch

Summer sale

Blimey, these Q2 cats really are hitting the bottom line across a wide swathe of classes and geographies Read more

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