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Reinsurers on the hook as Tower estimates up to $115mn net Sandy loss
Tower Group has warned that Superstorm Sandy will "easily" cause the largest catastrophic event in its history as it estimated fourth quarter pre-tax net losses in a range of $90mn-$95mn in its direct business
08 November 2012
Maiden outperforms and continues quota share growth
Operating earnings at Maiden Holdings came in ahead of analysts' consensus forecasts as the reinsurer highlighted a quarter that included top line growth and added to strong book value growth in 2012 so far
08 November 2012
Unrated insurers grab 12% of UK solicitors’ PI market
Insurers operating without a credit rating took more than 12 percent of the £240mn UK solicitors' professional indemnity (PI) insurance market at the 1 October renewals, according to figures supplied by the Solicitors Regulation Authority
07 November 2012
Munich Re expects ‘mid three-digit EURmn’ Sandy loss
Munich Re has told investors to expect a "mid three-digit million euro range" loss from Hurricane Sandy, but was still sufficiently confident about its 2012 performance to increase overall profit guidance
07 November 2012
Storm Sandy: Insider Report
The (re)insurance industry is waking up to the prospect that losses from Superstorm Sandy are likely to be significantly higher than first anticipated for a modelled Category 1 hurricane striking the north-east US
07 November 2012
Transatlantic drives profit surge at Alleghany
Transatlantic Re contributed the lion’s share of underwriting profit at Alleghany Corp as the US insurer booked a surge in pre-tax profits for the third quarter.
07 November 2012
Alterra misses as US insurance and Lloyd’s CR deteriorates
Alterra Capital third quarter operating profits missed analysts’ consensus forecasts as the Bermudian took a hit on its crop book and reported deteriorating combined ratios in its US insurance and Lloyd’s businesses.
07 November 2012
Solvency II compliance took over in ANV’s Lloyd’s Flagstone buy-out
Dealing with Solvency II compliance dominated management time during the takeover of Flagstone's Lloyd's operation Syndicate 1861, according to ANV deputy chairman Adam Barker.
07 November 2012
$250mn Saltire Re to transfer non-cat risk to the capital markets
London-listed insurer Lancashire says its new $250mn special purpose vehicle, Saltire Re, will be one of the first vehicles to transfer non-catastrophe risks to capital markets investors.
06 November 2012
Lloyd's asks market for Sandy loss information
Lloyd's head of exposure management and reinsurance Trevor Maynard has informed the market that a formal request for managing agents' estimated gross and net loss exposures to Superstorm Sandy will be sent out later this week.
06 November 2012
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