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  • Cats are up and it's official; 1999 was the second-worse year for insurance losses. In its 30th year of publication by Swiss Re, the latest Sigma report on major losses in 1999 paints a woeful picture of devastating natural catastrophes and expensive...
  • (Re)insurers are facing a total loss on the Transocean Deepwater Horizon rig after it sank on 22 April.
  • The sluggish 2008 reinsurance market saw Guy Carpenter’s underlying revenues fall 10 percent at the third quarter from $226mn to $205mn, although the firm’s cost-cutting programme enabled the margin to remain unchanged.
  • Reinsurance buyers are demanding price reductions on their treaties as they meet at the annual Monte Carlo Rendez-Vous event to begin the process of negotiating the key 1 January renewals.
  • Bermudian reinsurer Montpelier Re acted swiftly to restore its Hurricane Katrina battered balance sheet by raising some $600mn from selling its stock at $24 per share. The “class of 2001” reinsurer saw its share price plummet 17 percent...
  • Hardy Underwriting has succeeded in holding on to the almost 20 percent share price bump it achieved after the revelation last week that it had rejected a £158mn approach by larger Lloyd's insurer Beazley.
  • UK solicitors firms are seeing rate increases of between 10 and 20 percent at the 1 October renewal of their professional indemnity (PI) insurance contracts, according to leading brokers.
  • Controlling a third of any market place gets regulators uneasy, especially in a sector as unpopular among consumers as insurance.
  • Despite a decline in group operating profit from £226mn in 2002 to £140mn for 2003, ratings agencies and analysts have not echoed the stock market negativity that saw Royal and Sun Alliance (R&SA) shares drop almost 15 percent last Thursday (11 March) as
  • But with ratings likely to be dragged down, reserving doubts and indifferent results, questions remain over supermerger rationale. Two months after Travelers and St Paul unveiled plans for a "merger of equals" (see the November 2003 edition of The Insu