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Sandy set to produce historic yacht loss
Last week saw a new front open up on the Hurricane Sandy loss tally after a major boating organisation released a $650mn estimate for damage to pleasure craft due to the storm.
26 November 2012
Sandy: PCS says $11bn but AIR now estimates $16bn-$22bn
The official $11bn PCS claims estimate for insured losses from Hurricane Sandy - which was unveiled last week - bolstered commentators who said the disaster could cost less than feared, but will test the agency's processes for estimating commercial losses.
26 November 2012
Investors reward AIG’s turnaround
American International Group (AIG)'s share price has increased 41 percent during 2012 to date to $32.75, as equity investors have rewarded the company's turnaround and aggressive capital management.
26 November 2012
AIG enters new China partnership with PICC
American International Group (AIG) announced last week that it plans to launch a new joint venture with the soon-to-be-floated People's Insurance Company of China (PICC) after subscribing for about $500mn of PICC Group shares.
26 November 2012
AIG ready for SIFI status
American International Group (AIG) has said it will welcome supervision by the Federal Reserve following its likely designation as a systemically important financial institution (SIFI), according to reports last week.
26 November 2012
Tamesis Dual set to double income in 2013
Veteran specialty reinsurance underwriter Tony Lovett's Hyperion-backed MGA Tamesis Dual is set to double premium income in 2013, The Insurance Insider has learned.
26 November 2012
Endurance buys Galileo weather business
Bermudian (re)insurer Endurance Specialty Holdings has bought Marty Malinow's Galileo Weather Risk Management to use as the launchpad for new weather trading unit Endurance Global Weather, reports sister title Trading Risk.
26 November 2012
Marketform hires Barbican med mal duo
Lloyd's specialist insurer Marketform has hired two new medical malpractice underwriters from Barbican to replenish the team after three of its members recently left for RenaissanceRe.
26 November 2012
Cat accumulations could reverse downward pressure
Sharp rate declines in the airline sector are ignoring the growing potential for accumulated losses in other business lines due to natural catastrophes, according to Richard Etridge, head of aviation at Torus.
26 November 2012
UK government and ABI’s public clash on flood cover
The Association of British Insurers (ABI) was slammed by UK ministers for its "opportunistic" attempt to negotiate on flood insurance cover when parts of the country have been hit by severe flooding.
26 November 2012
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