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  • Chaucer applies for Dubai licence
    Lloyd's carrier Chaucer is preparing to set up an operation in the Dubai International Financial Centre (DIFC). A filing on the jurisdiction's website shows the Lloyd's managing agency has an active application to the Dubai Financial Services Authority, which regulates financial companies in the DIFC. The licence allows Chaucer to take an office premises and […]
  • Canal signs State National guarantee deal after downgrade
    Recently downgraded Canal Insurance Company has agreed a deal with State National that lets it offer insureds that would typically require A rated paper a guarantee of its policy obligations, The Insurance Insider can reveal. The South Carolina-based transportation carrier had its A- financial strength rating cut to B++ in late September because of sub-par […]
  • Citizens data show $1.11bn Q3 underwriting loss: S&P
    Florida's insurer of last resort, state-run Citizens, produced a third-quarter net underwriting loss of more than $1.11bn, S&P Global Market Intelligence said today, citing an analysis of statutory filings. The period included the devastation caused by Hurricane Irma, which raked Florida from the Keys to the Panhandle. The storm has generated more than 830,000 claims […]
  • California wildfire losses may reach $10.5bn: AIR
    Modelling firm AIR Worldwide has increased its industry loss estimate for the Californian wildfires that ravaged parts of the Golden State last month to a range of $8bn to $10.5bn. The lower end of the revised estimate is in line with the top end of the $6bn-$8bn prediction from rival RMS. It is a significant […]
  • Markel completes $919mn State National acquisition
    Markel has completed its $919mn acquisition of State National, the company said today. The specialty underwriter agreed to buy the Bedford, Texas-based fronting and auto loan insurance specialist in July for $21 a share in cash. State National will operate as an "independent division" of Markel, both companies said in a joint statement. "We look […]
  • Cat losses force Tokio Marine to cut forecasts
    Tokio Marine Holdings has downgraded its result forecast for the current fiscal year after natural catastrophe losses. For the fiscal year ending March 2018, the group projects 315bn yen ($2.8bn) of adjusted net profit, down 67bn yen from the original business plan, mainly due to higher loss estimates from natural catastrophes in the domestic and […]


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LondonMarkit Systems Limited
20 Birchin Lane, London
+44 203 713
JohannesburgMarkit Systems Limited
+27 11 083