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  • HCC beats consensus due to reserve releases
    HCC Insurance Holdings increased its third quarter net earnings by 77 percent year on year to $107.1mn as it outpaced analyst expectations on the back of low cat losses and higher reserve releases.
    31 October 2012
  • AIR provides Sandy loss range of $7bn-$15bn
    Cat modelling firm AIR Worldwide has published a mid-range loss estimate for Hurricane Sandy of $11bn, twice that of its rival Eqecat.
    31 October 2012
  • Sandy not a ‘game changer’; but may ease rate reduction pressure
    Senior US P&C executives gathered in Dana Point, California for the PCI annual convention agree that Hurricane Sandy will not have a significant impact on 2013 cat reinsurance rates, despite the devastation wreaked on the Eastern Seaboard and continuing uncertainty over the eventual loss
    31 October 2012
  • AIR suggests Sandy losses of around $10bn
    Modelling agency AIR Worldwide has told clients that Hurricane Sandy could cause insured losses of about $10bn, according to sources
    30 October 2012
  • White Mountains falls to net loss on OneBeacon legacy deal
    Bermudian insurance group White Mountains was carried to a loss in the third quarter by a charge taken on its $2.2bn run-off deal with Armour Risk.
    30 October 2012
  • European stocks steady after yesterday's Sandy falls
    UK and European (re)insurance stocks tracked by The Insurance Insider have gained 0.9 percent on average in morning trading (30 October), partially offsetting losses recorded yesterday as Hurricane Sandy bore down on the US
    30 October 2012
  • Hurricane Sandy causes serious flooding in New York
    Hurricane Sandy transformed into a post-tropical cyclone as it made landfall in New Jersey yesterday evening (29 October), leading to major flooding in New York City
    30 October 2012
  • Sandy creates livecat interest as north-east coast is hit
    Hurricane Sandy stirred interest in livecat trading as the storm hit New York and the north-eastern US states, reports sister title Trading Risk, although it is not known whether any actual trading occurred
    30 October 2012
  • Flagstone slashed renewals to $4mn in Q3
    Flagstone Re made a twenty-fold reduction in the gross written premium that it wrote in the third quarter, slashing its top line to just $4mn
    30 October 2012
  • AFG limits crop losses to $12mn
    American Financial Group (AFG) doubled its third quarter net earnings as it confounded expectations by disclosing US crop losses of just $12mn, despite its position as the fourth biggest primary insurer in the crop market.
    30 October 2012
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