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Top Stories / Ad / Most Recent
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A quick roundup of today’s need-to-know news, including global rates, wildfire losses and Converge, among others. -
Admitted carriers are dropping middle-market business due to large verdicts.
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The carrier anticipates the impact of the wildfires to drive January cat losses up to $40mn.
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The carrier’s Eaton Fire loss would be a retained net loss hit.
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The underwriter has worked at Axis for a decade.
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The restructuring arrangement is designed to protect creditors.
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The Pacific region led the quarter’s price decline at -8%.
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CEO Tom Kang said Converge will now be able to deploy a total of $10mn in limit in certain segments.
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RenRe gave the highest anticipated market loss of $50bn.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The agency said it does not expect a “material impact” from the charge.
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Regulators have been keeping a close watch on the market, however.
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