November 2012/1

There are not many drama students that rise to be a managing director of a £100m+ business - and especially not ones that didn't begin their current career until the tender age of 38.

The industry's view on the ultimate loss impact from Superstorm Sandy is undergoing a significant shift. At the time of landfall, the consensus was that it would be a relatively moderate event retained by insurers that would do little to alter downward pressure on property cat rates.

Superstorm Sandy could easily place high on the list of the most expensive hurricane losses for the insurance industry, as the rankings of the top 10 losses show.

A number of reinsurance losses crept into the industry losses from last year's Hurricane Irene, illustrating that the $10bn rule of thumb threshold for a hurricane becoming a reinsurance event is no safeguard.

The reduction of exposure to north-east hurricane risk might be considered a significant early victory in the highly scrutinised tenure of recently appointed Axis CEO Albert Benchimol.

As loss forecasts climb, more and more reinsurance programmes will engage. We analyse some of the more likely treaties to be triggered

Hurricane deductibles and business interruption (BI) covers are two key factors that will complicate loss estimates for Hurricane Sandy as the US north-east slowly begins the recovery process.

The US insurance giants are most exposed, The Insurance Insider's exclusive analysis reveals...

By the end of last week, the (re)insurance industry had realised that losses from Superstorm Sandy will be significantly higher than first anticipated for a modelled Category 1 hurricane striking the north-east US

Signs of sustained momentum for improvement in commercial P&C rates were a dominant theme in the third quarter earnings reports of US primary insurers, defying fears of a slowdown.

Traditional reinsurers need to step up to provide better solutions for clients looking to buy sideways cover to protect against frequency of loss, according to Aon Benfield chief strategy officer Bryon Ehrhart.

The investment reinsurance deal between Platinum Holdings and Third Point Re will provide Platinum with extra return for risk comparable to a fixed income deal, although the liquidity of the deal remains uncertain, Fitch Ratings associate director Christopher Grimes told The Insurance Insider.