Insurance news

• Everest climbs 6% on Q3 cat loss estimate

  14-10-2017 05:47
  Everest Re shares jumped 6 percent in New York trading today
  after the (re)insurer estimated a net pre-tax catastrophe loss of
  $1.2bn for the third quarter, reflecting the period's three
  major hurricanes and the earthquakes in Mexico.
  The losses would amount to a "net economic impact" of
  $900mn after taxes, the Bermuda-based company said after markets
  closed in New York yesterday.Should the figures hold up, the deficit would be substantially
  smaller than the $1.1bn after-tax hit projected by Buc
  
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• California wine country fire toll escalates

  14-10-2017 01:27
  The wildfires in California's wine country levelled more
  homes and businesses Friday and as investigators began to look into
  whether a downed power line might have been to blame, Pacific Gas
  and Electric Company (PG&E) said it has about $800mn in
  liability cover for such events.
  As the fires raged through another day, firefighting officials
  cited concerns that dry Diablo winds would pick up again to 60 mph
  and further fan the flames that have consumed at least 3,800
  structures...
  
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