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Thai Re share price leaps following $70mn Fairfax injection
Loss-struck reinsurer Thai Re's share price climbed 7.2 percent today (23 January) after last week's announcement that Prem Watsa-led combine Fairfax Financial is to invest $70mn in the firm's post-floods equity fund-raising issue.
23 January 2012
Up to $235mn loss for Chevron drilling rig
Swiss Re is the hull lead and Parisco the broker for the $175mn+ KS Endeavor drilling rig which has been rendered a probable total loss by fires, our sister title Inside FAC revealed last week.
23 January 2012
Thailand loss estimates flood past $6bn
Reported loss estimates for the severe flooding in Thailand from property and casualty insurers have surpassed the $6bn threshold after a flurry of loss announcements over the past week.
23 January 2012
Energy reinsurers put squeeze on after another heavy loss year
Offshore energy insurers are facing the prospect of assuming more risk themselves or cutting back their lines after reinsurers responded to another year of losses by raising prices and tightening terms.
23 January 2012
Munich Re estimates cruise claims of less than EUR100mn
Munich Re expects its claims burden from the Costa Concordia cruise ship sinking to be in the mid-double-digit million euro range, the company has announced.
23 January 2012
Omega gives clearest signal yet that it’s cash or nothing
In rejecting Barbican's all-share offer for the company, Omega's management has made explicit its preference for a cash deal or one that would see shareholders offered a full cash alternative.
23 January 2012
Montpelier and Mitsui approach Hardy
Bermudian cat specialist Montpelier Re and Japanese big three member Mitsui Sumitomo are among the 15 companies that have expressed interest in acquiring Hardy Underwriting, The Insurance Insider can reveal.
23 January 2012
Marketform CEO steps down
Lloyd's insurer Marketform has announced that Simon Turner stepped down as CEO and director of its managing agency and as a director of Marketform Limited with effect from 13 January 2012.
23 January 2012
Willoughby move likely to start claims merry-go-round
The appointment of Markel International's claims director Stuart Willoughby as global head of claims at Scor is likely to be the start of a merry-go-round of people moves at the top end of the claims profession, The Insurance Insider understands.
23 January 2012
Canopius downgraded on S&P cat charge
Canopius Syndicate 4444 has had its Lloyd's assessment level reduced from 3- to 2+ by Standard & Poor's (S&P), primarily as a result of a change in the capital charge imposed by the ratings agency on catastrophe business.
23 January 2012
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