Catastrophe loss compilation agency Perils has released an increased estimate for the earthquake which hit central Italy on 24 August 2016 of EUR66mn ($70mn).
Hurricane Otto, the seventh named hurricane (and fifteenth named storm) of this year's North Atlantic hurricane season, made landfall in Nicaragua and Costa Rica with powerful winds and torrential rains on Friday 25 November.
In a possible move which could offer exciting possibilities for the facultative market, Munich Re said this week it is considering entering the Iranian market following the lifting of sanctions at the beginning of the year, according to reports.
Lloyd's director of global markets Vincent Vandendael said this week that the executive team will present its Brexit contingency plans to the Franchise Board and Council in December for approval, with the final plan to be made public in the first quarter of 2017.
Guy Carpenter is currently reviewing its operational parameters across treaty and facultative reinsurance, with some redundancies already understood to have been made, Inside FAC can reveal.
In a move which will be watched with intense interest by those in the facultative market, Italy's Generali outlined this week its plans to pull out of 13-15 markets worldwide.
Sompo Canopius group CEO Stuart Davies is stepping down with immediate effect, the firm announced this week.
The Islamic Insurance Association of London (IIAL) has urged brokers to tackle misconceptions about the availability of cover.
American International Group (AIG) said this week it may move its European headquarters from London to another European Union country as a result of the Brexit vote.
No one said life in the fac lane was going to be easy, and the constant pressure to produce is what keeps us alert. But sometimes it's good to step aside from the daily grind and look at the bigger picture.
The Insurance Regulatory and Development Authority of India (Irdai) has set up a committee to create guidelines on the procedures for reinsurance cessions.