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NEW YORK (Bloomberg) — Damage from Patricia, the strongest hurricane ever measured in the Western Hemisphere, may cost the US billions due to floods after the storm spared the largest cities in Mexico. Flooding in Texas may lead to more than $3 billi...

Pressure on reinsurance pricing could see rates drop lower than previously anticipated, with double-digit reductions possible during the January renewals. That warning was given by Nick Frankland, of Guy Carpenter & Company, at the Baden-Baden Reinsu...

A “complex web of factors” is responsible for the continuing pressure on reinsurance renewal pricing, according to Robert Hartwig. The president of the Insurance Information Institute, in New York, noted that there have been a number of consecutive y...

The resignation of one of the Hamilton Insurance Goup’s leading executives will not affect the group’s credit ratings, AM Best said yesterday. The rating agency’s commentary came after Conan Ward resigned as chief executive officer of the Bermuda fir...

A loosening of reinsurance regulations in Brazil could provide a boost for Bermuda business, the president of the Association of Bermuda Insurers and Reinsurers (Abir) said yesterday. Bradley Kading told an international relations meeting in Rio de J...

Kathy Garrigan has been appointed as senior vice-president and head of actuarial services at Horseshoe Group. She will be responsible for all pricing and reserving advisory activities for the Horseshoe group of companies. In a statement, the company ...

The first Bermudian has been picked for a special programme run by financial services firm Sun Life aimed at giving recruits international experience. Rochelle Williams, who has a Bachelor of Commerce degree with honours from Ireland’s University Co...

QuanTemplate Technologies, a financial technology company involved in providing data and analytics to the insurance and reinsurance industry, has appointed Scott Quiana to head its North America operations. Mr Quiana will have responsibility for incr...

Costly damage caused to Amtrak’s infrastructure by Superstorm Sandy in 2012 is one of the reasons the company has obtained $275 million of catastrophe bond insurance coverage this month. The three-year cat bond notes were issued in Bermuda last week ...

Aspen Insurance Holdings estimates it faces about $50 million in pre-tax losses from the Tianjin port explosion in China, wildfires in the US and last month’s earthquake in Chile. The company said the losses primarily impact Aspen’s reinsurance segme...

Bermuda is in a strong position to hold on to its insurance-linked securities business — despite attempts by the City of London to muscle in on the sector, ILS Bermuda chairman Greg Wojciechowski said yesterday. Mr Wojciechowski was speaking after a ...

Networking group Women in Reinsurance (WiRe) has launched a chocolate fundraising campaign to help families in need. The 150-strong WiRe aims to sell 6,400 boxes of chocolate-coated almonds over the next month — with the proceeds going to charity the...