Insight and Intelligence on the London & International Insurance Markets

4 February 2012

(Re)insurers face $2.5bn political risk loss

11 November 2009

(Re)insurers' rapid expansion into providing structured credit style cover to Western banks and investors is now fuelling the industry's estimated $2.5bn of political risk/trade credit loss exposures emerging from the 2008-09 economic downturn.

Beazley became the latest Lloyd's insurer to unnerve investors on 9 November when it disclosed a £33mn loss on its Political Risk and Contingency book in the first half of the year. The announcement provoked Collins Stewart to immediately downgrade its recommendation on the stock in a...

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