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Missouri Farm Bureau steps in to save tornado-hit mutuals

Three Missouri farm mutuals have been placed into receivership and will be propped up by the Missouri Farm Bureau (MFB) after being devastated by the tornado that struck Joplin in May.

23 December 2011
Mapfre completes board reshuffle

Spanish and Latin American (re)insurer Mapfre has completed a reshuffle of its management team

23 December 2011
Dismal US P&C returns continue but pricing news gives hope: AM Best

US property & casualty (P&C) insurers have turned a profit for the first nine months of 2011, but underwriting losses remain significant, according to a report by ratings agency AM Best.

23 December 2011
Everest Re puts Thai loss at $125mn, raises Japan quake number

Bermudian reinsurer Everest Re says it expects to take net losses of $100mn-$125mn from Thailand flooding claims, based on an industry loss of $10bn-$15bn

23 December 2011
Haverford officially withdraws from Omega pursuit

Industry maverick Mark Byrne has officially withdrawn his interest in buying into Lloyd's (re)insurer Omega after the takeover target rejected his lowered 74p per share indicative offer for a 25 percent stake in the firm.

23 December 2011
Loss-hit US property cat sees rate rises of 10-50%: Holborn

US property cat reinsurance programmes renewing at 1.1 are seeing rates up anywhere between 5 and 50 percent depending on loss activity and whether they have coastal exposure, according to broker Holborn.

22 December 2011
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) to take the world's biggest reinsurance programme within touching distance of a total loss, The Insurance Insider can reveal

22 December 2011
London market growth can’t halt UK insurance decline

Premium income earned by the UK insurance sector dropped for the third consecutive year in 2010. However, the London market bucked this trend with increased premium sales

22 December 2011
Marsh sees ‘two-speed market’ after major cat year

Global insurance has turned into a two-speed market in 2011 as rates climb for business affected by catastrophe losses while clients in other lines are still able to push for discounts, according to a new Marsh report

22 December 2011
IAG loss creep takes NZII primary claims tally to $12bn

The recent increase of IAG's loss estimate for the February Christchurch quake from A$1.9bn to A$2.9bn takes the total gross claims incurred by the major primary insurers to $11.9bn, analysis from The Insurance Insider shows.

22 December 2011

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