October 2008/3

Broker Aon expects hardening market conditions to be sustained through October, November and December renewals with a closing gap between rates charged by lead and following insurers on placements.

Everest Re, Catlin, Max Capital and Aspen joined a growing chorus of (re)insurers publishing preliminary Q3 results outlooks reflecting heavy investment writedowns – in addition to the impact of hurricane losses (see article 6).

Amlin cut its 2008 profit forecast by £45mn after tax today as it become the latest (re)insurer to reveal the impact of Hurricane Ike with the bill from last month’s storm rising based on industry estimates in excess of those published by...