XL Group News

Hedge Funds Invest in Reinsurance Stocks on Expected Rate Hikes in 2018

Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the Caribbean in August and September are expected to …

XL Group Q3 Reports Losses in Excess of $1B on Hurricanes Harvey, Irma, Maria

XL Group reported losses exceeding $1 billion for the 2017 third quarter, blaming Hurricanes Harvey, Irma and Maria for the results. The net loss of $1.04 billion for Q3 amounted to negative-$4.06 per fully diluted share, compared to $70.6 million …

XL Group Estimates $1.48B in Q3 Natural Catastrophe Losses

XL Group Ltd. announced its preliminary estimate of net losses of approximately $1.48 billion from third quarter natural catastrophes. Included within that figure is $1.33 billion in losses relating to Hurricanes Harvey, Irma and Maria, the company said, noting that …

Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters

Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case Britain does not have …

Key to Good Leadership: Honest Self-Appraisal – Part 2, Catlin Interview

Second of Two Articles Good leadership is essential if the industry is going to successfully navigate the challenges ahead, Stephen Catlin told Insurance Journal during a recent interview, as he looked back at lessons he’s learned during his 40-year journey …

Industry Relevance and Expertise ‘Ours to Lose:’ Catlin

First of Two Articles After 44 years in the insurance business, Stephen Catlin is retiring at the end of 2017. While he’ll be retiring from his role as executive deputy chairman of XL Group, he emphasizes that he won’t be …

Reinsurers Invest in Fintech Startups to Diversify and Grow in Soft Market

When Micah Carr-Hill wanted to insure Chief, the Labrador that helps with his son’s autism therapy, he found an ally in Munich Re, the world’s biggest reinsurer. The German company had just teamed up with a U.K. internet startup to …

Days of Cyber Insurers Avoiding Costly Claims May Be Numbered: Expert

Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously …

Catlin to Retire as XL Group’s Executive Deputy Chairman

XL Group, the corporate parent of XL Catlin, said that Stephen Catlin will be retiring as executive deputy chairman at the end of 2017. Catlin sold his eponymously-named Bermuda specialty insurer and reinsurer to XL Group in 2015 for $3.9 …

Insurtech Startups Attract Growing List of Traditional Insurer Partners

Listening to Andrew Rear talk about insurers, you wouldn’t think he works for one that’s been around for 136 years. The 46-year-old head of Munich Re’s Digital Partners unit has said the industry is “one of the last bastions of …