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Munich Re absorbs Sandy loss and holds CR to 83%
Munich Re overcame an EUR800mn ($1.08bn) net loss from Hurricane Sandy to salvage a fourth quarter combined ratio of 83.2 percent and a full-year ratio of 91.0 percent
06 February 2013
Cyber market is ‘immature’, say industry bosses
The cyber insurance market is "beyond embryonic but not out of the womb yet", said Lloyd's director Tom Bolt at a London Market Claims Council roundtable hosted by The Insurance Insider late last month.
06 February 2013
European duo tread water in ‘unrelentingly competitive’ renewals
European reinsurance powerhouses Munich Re and Hannover Re both held their renewal books relatively steady at 1 January this year in a market that had grown significantly more competitive over the preceding 12 months
06 February 2013
Foresight beats hindsight any day
The arrival of Nephila at Lloyd's is a progressive development that is to be encouraged...
06 February 2013
Ascot and Aegis in $3bn IG renewal stand-off
The 20 February renewal of the mammoth, loss-affected reinsurance contract that protects the International Group of P&I clubs (IG) is testing the marine market's resolve...
06 February 2013
Buyers’ market expected in Florida as 1.6 starts early
The 1 June Florida renewal season has already begun as reinsurers bid to secure participation on placements before submissions have even come to market, amid mounting competition from an abundance of property cat capacity...
06 February 2013
Hampden raises equity investment risk
Listed Lloyd's investment vehicle Hampden Underwriting has assigned new investment mandates for its £8mn portfolio of funds at Lloyd's and corporate funds - significantly increasing its exposure to equity risks
06 February 2013
BP Deepwater costs reach $42bn as Gulf claims loom
BP's total costs from the Deepwater Horizon rig disaster reached $42.2.bn by the end of 2012 after it took a $4.1bn charge in the fourth quarter related to a criminal charges settlement with the US Department of Justice
06 February 2013
Alterra falls to Q4 loss as US insurance takes Sandy blow
Alterra Capital fell to a fourth quarter net and operating loss that was worse than Wall Street expectations as Superstorm Sandy hit its bottom line.
06 February 2013
CIAB and MarketScout report strong US commercial price momentum
The latest surveys from The Council of Insurance Agents & Brokers (CIAB) and MarketScout point to strong momentum for US P&C insurance pricing, dispelling fears towards the end of last year that rate rises might be starting to plateau.
05 February 2013
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