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Company Example A

Overview
Content
Data

Company type

Insurance-Linked Securities (ILS) and Investment Managers

Miscellaneous

Founded
1896

Major offices

Zurich, CH (headquarters)
Nassau, BS

Officers

Smedley MacGuffin (CEO)

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  • The scale of the Deepwater Horizon disaster could lead to industry losses of $2bn and beyond once the potential impact of liability claims from the disaster is factored in.
  • As US crop insurers await possible margin squeezing changes to the agreement that governs the relationship between public and private provision of cover, reinsurers are already pointing to a potentially significant withdrawal from the business.
  • Internal candidates are in line to replace O'Halloran, but headhunters are also looking outside.
  • Energy rates are hardening as a result of the Deepwater Horizon loss in the Gulf of Mexico (GoM), according to Chaucer Holdings, which estimates a $25mn net loss to its Lloyd's Syndicate 1084 from the disaster.
  • Munich Re's burden from major catastrophe losses in the first quarter totalled EUR761mn, pushing its quarterly combined ratio to 109 percent and forcing a warning that full-year profit targets are now looking "increasingly ambitious".
  • Argo group has posted profit of $20.7mn in Q1 2010 amid $29.1mn in net catastrophe losses for the quarter. The result was a 23 percent reduction on the $27mn in net income posted for Q1 2009.
  • XL Capital has posted a first quarter profit on a dramatic improvement in realised investment losses, and despite an 11 percentage point deterioration in its loss ratio from Q1 catastrophes.