Property and casualty
Arch Capital Group Ltd. expects pretax losses of $110 million to $130 million, net of reinsurance recoveries and reinstatement premiums, from catastrophic events in the fourth quarter of 2018.
The New York State Department of Financial Services fined Arch Insurance Co. and American International Group Inc. unit National Union Fire Insurance Co. of Pittsburgh Pa. a combined $2.2 million over state insurance law violations.
Total estimated insured losses from Hurricane Michael have climbed to about $4.89 billion, according to the Florida Office of Insurance Regulation.
AssuredPartners Inc. will be put up for auction at a valuation of approximately $4.5 billion later in the first quarter, The Insurance Insider reported.
Life and health
Michel Khalaf will become MetLife Inc.'s president and CEO on May 1, succeeding Steven Kandarian.
More geographically diverse med-mal group takes 2nd crack at stock conversion
Push to identify deceased policyholders costs US life insurers $10B