January 2006/4

A political risk analyst has predicted that the UK will face five more terrorist attacks from Sunni extremists within the next 18 months.

Lord Levene has continued his call to the US to reform its “credit for reinsurance” rules to allow foreign reinsurers to lend more support in the event of another mega-disaster such as Hurricane Katrina.

Kiln plc has become the first Lloyd’s insurer to ask third party capital providers to put up additional capital to cover losses from last year’s storms. Members of Syndicate 557’s 2005 underwriting year are being asked to contribute...

Reinsurance broker Benfield Group predicted better than expected revenues for 2006 on the back of rising reinsurance rates in 2006 and 2007. In a 12 January trading statement, the broker said that it now expected 2006 turnover to grow...

Bermudian reinsurer Everest Re announced yesterday (12 January) that it is raising pre-tax loss estimates from last year’s trio of hurricanes by $200mn to $1.2bn, net of reinstatements. The company now expects the after-tax...