June 2011/4

Modelling firm Eqecat has stuck by its estimate that the 13 June aftershocks could result in losses of $3bn-$5bn, despite the figures being rubbished by the country's leaders

Investors punished the trio of top Australian insurers last week, depressing share prices after QBE and IAG released details of rising catastrophe losses.

An equities analyst has warned that traditional catastrophe reinsurance is "no longer viable" because of the structure of the industry and the inability of models to predict likely events.

The dispute between New Zealand's Earthquake Commission (EQC) and domestic insurer Tower over the residential damage bill from the second Christchurch earthquake in February turns on when the Commission's insurance cover reinstates.

Institutional ownership of property and catastrophe (P&C) (re)insurer stock changed little during the first quarter of 2011, with investors still characterised as value orientated, low-turnover buyers, according to research by UBS analyst Brian Meredith.

Global reinsurance capital levels dropped by $30bn in the first quarter 2011 to $440bn, according to Aon Benfield Analytics.

Provided it can sidestep any obstacles from shareholders, the transaction to create TransAllied will be another boon for the Swiss reinsurance market

US investment banking advisory firm Evercore Partners paid £86mn for its recent acquisition of UK adviser The Lexicon Partnership.

UK motor insurers booked underwriting losses of £2bn in 2010 on an overall net combined ratio of 120 percent, according to figures compiled by Deloitte.

Natural catastrophe underwriters have diverted capital into the aviation market to diversify their portfolios, which is likely to keep up pricing pressure in the market, according to an Airline Insight report from broker Willis.

Insurers for Deepwater Horizon owner Transocean have filed legal complaints seeking declarations that Macondo well owners BP, Anadarko and Moex are not "additional insureds" under its policies.

Total insured exposure from political risk claims in Libya could amount to between $200mn to $300mn, according to global insurer Ace