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Floridian carrier United Insurance Holdings, the parent of UPC Insurance, took a $17.6mn loss for the quarter as catastrophe activity continued to put pressure on its results.
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The Cayman Islands Monetary Authority (CIMA) announced it has streamlined the application process for local cat bond vehicles in order to complete the licensing process within 5-10 business days.
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Former Marsh Europe CEO Bruce Carnegie-Brown has been unanimously chosen by the Council of Lloyd's as the corporation's next chairman.
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The Insurance Council of Australia (ICA) said it expected insured losses from bushfires and hailstorms that took place in New South Wales in the past week could surpass A$70mn ($54mn).
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A South Korean pension fund is considering significantly expanding its allocation to the ILS sector, according to local media reports
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Investors in the Gator Re cat bond are now expecting to lose $17mn-$18mn of their $200mn capital, a minor improvement from the previous $20mn anticipated loss, sources said.
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Lancashire said it had deployed slightly more limit through its Kinesis vehicle in 2017 than last year, after posting a minor dip in income from the asset management unit in 2016.
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AIG halved the trigger point of its US property catastrophe reinsurance programme from $3bn to $1.5bn, the insurer disclosed as it reported fourth quarter results.
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Credit Suisse-backed Arcus Syndicate 1856 has added former Lloyd's executive Gary Delaney to its team as syndicate manager
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Orchid Underwriters has set up a partnership with programme insurer Spinnaker to offer admitted insurance cover to US coastal homeowners.
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The Insurance Council of Australia (ICA) said bushfires that swept across parts of the state of New South Wales over the weekend would cost insurers at least A$20mn ($15.3mn).
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The Cincinnati Insurance Companies renewed its Skyline Re cat bond as a private placement, raising $180mn of reinsurance limit, JLT Capital Markets said.
