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The reinsurance broker will be known as Marsh Re starting in 2027 as part of a broader company shift. -
Increased vegetation could spell trouble in the future.
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Southern is said to have diverted 36 clients with $4mn in annual revenues from Marsh.
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Philipp Rüede succeeds François de Varenne, who will become senior advisor to the CEO.
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November hailstorms and current storms and bushfires racked up claims.
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The event is the second billion-dollar SCS event to hit the country within a month.
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Defendants can service clients who signed BOR letters as of December 29.
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Jim Hays outlined $90mn in stock losses as Howden called Brown & Brown’s narrative “false and inflammatory”.
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Former Aon employees are barred from using Aon’s confidential information.
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The broker is seeking an injunction, arguing it lost customers to Howden over the weekend.
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The storm outbreak follows similar events in the area in 2020 and 2023.
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The packages contained client lists and records saved as “TOP SECRET” on a former employee’s computer.
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BNP Paribas will take a EUR1.11bn stake in Ageas.
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Marsh has accused its former execs of flouting a preliminary injunction.
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The broker said the A$45-per-share price discussed valued the firm appropriately.
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The peril has been historically difficult to model compared to others.
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The UK-based insurer’s Florida Re secured state regulatory approval in June.
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Both the primary and reinsurance segments benefitted from a light cat year.
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Many commercial risks will have London coverage, but insured values are relatively low.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run to 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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Though wildfire losses are up, total losses are the lowest since 2015.
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The governor has yet to sign a pending bill to create a public cat model.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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IAG completed its takeover of RACQ last month.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The assistant treasurer is also due to review the Australian cyclone pool.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier notified California regulators that it would stop renewing plans starting last month.
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The data modeling firm said losses previously averaged $132bn annually.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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Lawmakers are seeking input on risk evaluation, limits and other concerns.
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The group claims the White House is undermining disaster preparedness.
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This is the first rate filing to use the recently approved Verisk model.
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The carrier also reported a slightly improved combined ratio of 94.6%.
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The company also purchased $15mn of SCS parametric coverage.
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The reinsurance CoR decreased 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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This brings the carrier’s total limit on the program to $1.8bn.
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Weatherbys Hamilton provides private client, bloodstock and farm coverage.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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The suit claims billions of dollars are being illegally withheld.
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The US accounted for 92% of all global insured losses for the period.
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State legislation has led to major strides in rate adequacy.
