Insurance news

• Broker M&A remains on record-setting pace: Optis

  21-10-2017 03:50
  Insurance agency mergers and acquisitions remain on track to set
  an annual record this year with 132 deals reported in the third
  quarter, according to Optis Partners.
  The 457 deals through the first nine months of 2017 equals the
  total for all of 2015, the previous record year, the Chicago-based
  boutique investment bank said in a study.
  While the pace of transactions slowed in both the most recent
  and the previous period from 186 in the first quarter, the broker...
  
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• Hamilton Re retains A- rating as AM Best ends review

  21-10-2017 01:11
  A review of Hamilton Re's A- rating has ended at AM Best,
  which affirmed the carrier's A- financial strength rating after
  the Bermudian's parent company named a permanent CEO and
  completed the sale of its US insurance operation to AIG.
  The rating agency also said it has a stable outlook for Hamilton
  Re.
  It had put the reinsurer under review after Hamilton founder,
  chairman and CEO Brian Duperreault left to take the helm at AIG in
  a deal that also...
  
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• California regulator puts initial wildfire claims at $1.05bn

  21-10-2017 01:11
  Insured losses from the Californian wildfires are currently
  estimated at $1.045bn, according to the insurance commissioner of
  California.
  The regulator said the preliminary data update, gathered from
  eight California insurers, reflected losses from commercial and
  residential structures, personal and commercial vehicles, and
  agricultural equipment.
  More than 7,000 structures have been damaged or destroyed, and
  the insured loss number is expected to climb as more claims are
  filed and processed.
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