Markets
AXIS Estimates Hurricane Michael Losses Above $100M
AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Hurricane Michael in the range of $100 million to $120 million, which will affect its fourth-quarter financial results. ...
The Latest Launches From CoreLogic and Ping An Property & Casualty Insurance
CoreLogic said it is bringing to Canada its Flood Risk Score and Weather Verification Service. Ping An Property & Casualty Insurance Co. in China entered into a cooperation agreement that will ...
AIG Told by U.S. Regulator to Improve Reinsurance Disclosures
The U.S. Securities and Exchange Commission told American International Group Inc to improve disclosures about its use of reinsurance to mitigate losses in its property and casualty unit, according ...
California’s Wildfires Worsen as Investors Flee State’s Largest Utility
A wildfire in Northern California's Sierra Nevada foothills continued to rage Friday as dry, gusty winds have left much of the state at risk. California's largest utility, PG&E Corp., fell the ...
Allianz: Combined Ratio Drops, 2018 Profit Predictions Reach High End of Target Range
Allianz is "highly likely" to reach the upper half of its 2018 profit target range, Chief Financial Officer Giulio Terzariol said as the German insurer cited lower costs and claims in its third ...
COIN Re, Ted Blanch’s Latest Venture, Invites Customers to Be Owners
At age 82, E.W. "Ted" Blanch is in the position of many entrepreneurs less than half his age: launching a new company. He's the co-founder and president of COIN Re, a Florida-based reinsurance broker ...
Hurricane Michael Helped Make October an Expensive Natural Catastrophe Month: Aon
Hurricane Michael, the fourth strongest hurricane to strike the U.S. mainland, left behind an expensive legacy, according to Aon/Impact Forecasting's October 2018 Global Catastrophe Recap. The storm, ...
Allianz’s PIMCO, Others, Sue 16 Big Banks In U.S., Alleging Currency Market Rigging
A group of large institutional investors including BlackRock Inc and Allianz SE's Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly $5.1 ...