All material subject to strictly enforced copyright laws. © 2021 Insurance Insider is part of Euromoney Institutional Investor PLC.
Accessibility | Terms & Conditions | Privacy Policy | Modern Slavery Act | Cookies | Subscription Terms & Conditions

November 2012/3

  • Industry loss warranty (ILW) limits of $350mn-$400mn could be on the line to pay out as a result of Superstorm Sandy if industry losses rise as high as $20bn, sources estimated.
  • Montpelier Re has enlisted the support of Barclays Capital to launch a new London-listed reinsurance third party fund manager and sidecar, according to fundraising presentations obtained by our sister publication Trading Risk.
  • Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers...
  • Chubb would make an attractive acquisition for Warren Buffett's Berkshire Hathaway, Barclays Capital analyst Jay Gelb argued last week.
  • Despite the increasing role of non-traditional capacity in recent years, the use of traditional reinsurance capital will continue to be the main leverage tool for growth at insurers, according to a survey by Guy Carpenter.
  • With $100mn of the recent $130mn deterioration in the Costa Concordia protection and indemnity loss attributed to increases in the cost removing of the stricken hull from a shallow ledge off the coast of Italy, a successful re-floating of the vessel is key to the resolution of the claim and its final cost.
  • Zurich Insurance Group's third quarter results fell short of analysts' expectations as it took a pre-announced reserve strengthening of $550mn in some German long-tail liability lines such as medical malpractice.
  • While the majority of US and Bermudian (re)insurers reported third quarter results that benefited from continued prior-year reserve releases, a number were also impacted by unfavourable development on long-tail business, including asbestos and workers' compensation.
  • The six London-listed (re)insurers cautiously talked up the potential for Superstorm Sandy to underpin property catastrophe rates as they commented on market conditions in their recent Q3 interim management statements.
  • Kiln was one of several Lloyd's insurers to lift its forecast syndicate results for the 2010 year in the past week, putting its flagship Syndicate 510 on track to make a profit.
  • The final Lloyd's auction of 2012 was completed on 14 November and saw £12.71mn of capacity change hands for a total of £742,708.
  • The latest round of elections to the 18-member Lloyd's Council has seen five members re-elected unopposed for fresh three-year terms.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree