April 2010/4

Forecasts for an above-average hurricane season could signal rising premiums, according to the Risk and Insurance Management Society (RIMS) and insurance data specialist Advisen.

Last week was perhaps the busiest week yet in the HSBC entrance lobby since the broker's £135mn takeover by Marsh...

2009 results for the US property and casualty (P&C) insurance industry indicate that the elusive hard market could be on its way.

HCC Insurance Holdings has reported losses totalling $20mn pre-tax, or $13mn post-tax, from the Chilean earthquake and Windstorm Xynthia. The firm said losses from the Chile disaster account for the majority of the reported figure.

A magnitude 6.9 earthquake that struck a remote region in China on 14 April has now killed almost 2,000 people and left tens of thousands homeless, according to latest reports.

The closure of most of Europe's airspace because of a huge cloud of ash from an Icelandic volcano has cost the airline industry hundreds of millions of dollars yet the impact on the insurance industry is still expected to be relatively modest.

US insurance giant Metlife has agreed to pay $13.5mn to resolve a government investigation into improper payments it made to a San Diego-based insurance broker, US federal prosecutors announced last week.

AIG unit International Lease Finance Corporation (ILFC) revealed last week that it was to raise almost $2bn through the sale of aircraft to Australian financial services firm Macquarie Group.

Expansive Australian insurer QBE's $565mn move to acquire NAU Country Insurance will see it pick up an 11 percent share of the US crop insurance market.

With the key 1 June Florida renewal approaching analysts are expecting a competitive market, as private reinsurers jostle to be placed on programmes with recognised carriers while trying to avoid the burgeoning small-cap specialist Florida-only homeowner insurance sector.

The Gulf of Mexico (GoM) offshore wind market could see further moves towards self-insurance in the run-up to the official start of the US hurricane season on 1 June, despite improved rates and terms for buyers, our sister title Inside FAC revealed last week.

The opportunity to get over a billion in annual Euro revenues at significantly below book value is a rare one, which is why many of Europe's insurers have been keeping a watching brief on the disaster zone that is Quinn Insurance.