Stocks
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The insurer avoided Irma loss creep but warned of pressure on claims from Hurricane Michael.
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News of adverse development from the two Floridians may point to a market-wide issue.
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Wildfire recoveries benefitted DaVinci investors and RenRe's retro partners in Q3. -
The firm made less fee income from reinsurance partnerships, but lifted insurance-related fees.
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Sidecar sponsor RenaissanceRe also posted a 40 percent uplift in Q3 fee income.
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The latest issuance brings the cat bond lite total to $739.5mn for the year.
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Parent asset manager Apollo is set to nearly double its stake in the life insurer.
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The manager bought back and cancelled 900,000 ordinary shares worth $180,000 at the end of last week, as the process of winding up the business continues.
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Market participants are expecting little new capacity to come from a slew of start-ups.
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The investment manager, which is currently in run-off, is also monitoring the impact of Typhoon Hagibis.
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AIG had $550mn of cover for Japanese losses, analysts at Credit Suisse noted.
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The carrier does not anticipate that the losses will trigger its reinsurance programme.
