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US (re)insurers: 2011 could be worst underwriting year for a decade
US P&C insurers posted significant underwriting losses in the first nine months of 2011 with reinsurers taking the brunt of losses, according to new figures.
03 January 2012
Thai loss could surge into $12bn reinsurance tsunami
Reinsurance and retrocessional losses from the Thailand flooding could reach $9bn-$12bn and match losses from the devastating March 2011 earthquake in Japan on a gross basis, according to Espirito Santo analyst Joy Ferneyhough.
03 January 2012
Irene and Lee cost NFIP less than $1bn
Hurricane Irene cost the US National Flood Insurance Program (NFIP) less than $750mn, according to the Federal Emergency Management Agency (Fema).
03 January 2012
Tornadoes may be the new hurricanes, warns Travelers
US (re)insurers spend too much time focussing on hurricanes and not enough on tornadoes.
03 January 2012
Norway counts cost of Dagmar
Norway's Meteorological Institute has described Windstorm Dagmar, which ripped across Norway, Sweden and central Finland on Christmas Day, as possibly the third worst windstorm to strike the country in the past 50 years.
03 January 2012
Caledonia exits Novae
Edinburgh-headquartered investment trust Caledonia exited from its holding in listed Lloyd's insurer Novae last month.
03 January 2012
Willis president Millwater withdraws from Council elections
The Lloyd's Council elections have become a lot more complicated after Willis president Grahame Millwater decided to withdraw from the contested ballot following his unexpected resignation from the broking group in December
03 January 2012
Zenkyoren adds $1.2bn to bring quake total to $11.4bn
Japanese mutual Zenkyoren has increased its loss notification from the Tohoku earthquake for a second time to 890bn yen ($11.4bn), taking the world's biggest reinsurance programme within touching distance of a total loss, The Insurance Insider revealed last month.
03 January 2012
February date set for Transatlantic merger vote
Transatlantic's shareholders will vote on the previously announced merger with Alleghany Corporation at a special meeting on 6 February.
03 January 2012
Beazley’s Hardy ‘bid’ will face challenges
Beazley will have to find ways to neutralise the difficulties posed by a Lloyd's-on-Lloyd's transaction and the corresponding advantages held by rival bidders Arig and Tower Group if it is to prevail in a future approach for Hardy.
03 January 2012
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