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  • The Canadian federal and provincial government will be forced to foot a large part of the bill from the train disaster in Lac-Mégantic, which is expected to top C$1bn mainly from environmental impact losses, according to Quebec tort law professor Daniel Gardner.
  • The spiralling wreck removal costs for the Costa Concordia prompted many (re)insurers to increase their loss estimates for the disaster in the second quarter.
  • Lancashire's surprise £266mn takeover of Lloyd's-based rival Cathedral, unveiled on 7 August, has stirred speculation that the London-listed (re)insurer may be quietly abandoning the business model that has made it one of the sector's stock market stars since it launched in 2005.
  • As the reporting season begins to wind down catastrophe losses now total $6.8bn for the second quarter, according to The Insurance Insider’s Data Room.
  • Forecasters have lowered their outlook for the 2013 Atlantic hurricane season but it is still expected to be above average.
  • JLT shares hit an all-time high closing price of 921.5p last Thursday (8 August) after the UK-based broker reported strong revenue growth and profits that beat analyst consensus.
  • The current accounting standards for London-listed (re)insurers do not present an accurate picture of financial performance due to the distortions created by mark-to-market changes on bond portfolios, Stephen Catlin has told The Insurance Insider.
  • Syndicate forecast updates from Lloyd's insurers Kiln and MAP show an improving picture for 2012, largely because of lower loss estimates from Superstorm Sandy, the major catastrophe event of last year.
  • Markel Corp remains strongly committed to the reinsurance business it obtained with the acquisition of Alterra, despite a significantly slimmed down management structure at the unit.
  • Kiln appointsTokio Marine-owned Kiln Group has appointed Satoshi Naganuma as active underwriter of Tokio Marine Kiln Syndicate 1880 (TMK 1880). TMK 1880 underwrites international construction and engineering business and offers direct and facultative coverage on an all risks of physical loss or damage basis.