Underwriting
XL Group Estimates $250M in Q4 Losses: Calif. Wildfires to Blame
XL Group disclosed preliminary natural catastrophe pre-tax loss estimates of approximately $250 million for the 2017 fourth quarter, stemming largely from wildfires in Northern California. The parent ...
Wildfires Halt L.A. Filming, Threaten Crops, Hammer Major Utility’s Market Value
Wildfires raging across Southern California have shut a major commuter artery in Los Angeles, suspended filming, wiped out more than $3 billion of market value for regional utility Edison ...
After several years in which much of P&C was focused on restoring rate adequacy and profitability, the market is finally...
Global Warming Could Be Much Worse Than Expected: Study
World temperatures could rise 15 percent more than expected this century, obliging governments to make deeper cuts in greenhouse gas emissions to limit global warming, scientists said on Wednesday. ...
Claims Firm Sedgwick Will Acquire Rival Firm Cunningham Lindsey
Global claims firm Sedgwick Claims Management Services will acquire Cunningham Lindsey, another global loss adjusting and claims management firm. Neither side disclosed financial terms. CVC Capital ...
Insurance/Reinsurance Rate Hikes in 2018 Are Increasingly Likely: Morgan Stanley
Rate hikes are on the way for reinsurers and insurers, Morgan Stanley asserts in a new research note, echoing predictions of others in the wake of record catastrophe losses for 2017. Morgan Stanley ...
New Explosion of Calif. Wildfires Threatens Homes and More
Once again, thousands are fleeing wildfires in California. And, once again, the worry on Wall Street is that a major electric utility might end up on the hook for the damages. Shares of Edison ...
Wells Fargo Risks Calif. Suspension of Licenses Over Insurance Sales Practice Controversy
The California Department of Insurance is seeking to suspend or revoke Wells Fargo & Co's licenses for alleged improper insurance sales practices related to the company's online insurance ...
Artificial Intelligence Startup Cytora Raises $5.9M From QBE, Starr, Others
Artificial intelligence startup Cytora has raised $5.9 million in new financing from investors including divisions of QBE's venture arm and Starr Companies. QBE Ventures, Starr Global Holding, ...