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Florida insurer sues Benfield over loyalty fees
Global reinsurance broker Aon Benfield is being sued by a cedant company over a loyalty fee that was alledgedly withheld after the insurer switched its account to Guy Carpenter
07 December 2011
Amlin turns to cat bond market
Lloyd's insurer Amlin is turning to the cat bond market for the first time through its new Tramline Re offering
07 December 2011
Giles hires ex Willis CEO McManus
UK independent broker Giles Group has hired industry veteran Brendan McManus to be its new chief executive
07 December 2011
Tokio-led Mitsubishi and Nikon expected to be major loss
The Tokio Marine-led programmes of Mitsubishi and Nikon are expected to incur heavy losses running into hundreds of millions of dollars from the Thai floods, The Insurance Insider understands
07 December 2011
Tokio Marine JV surplus losses could reach $2bn
International reinsurers are facing losses of up to $2bn on three surplus treaties purchased by Tokio Marine's Thai joint venture
07 December 2011
Global franchises will hand on Thai losses
Following the Thai flooding, attention has so far focused on reinsurance losses from the Japanese big three and regional (re)insurers, but global insurers' international cat programmes are also expected to take losses.
07 December 2011
$10bn+ Thai loss burden to fall on reinsurers
Up to 75 percent of losses from the Thai flooding are likely to end up with the reinsurance and retrocession markets.
07 December 2011
Local Thai reinsurers count heavy cost
The withdrawal of CCR - one of Thailand's market-leading reinsurers - will almost inevitably be followed by other carriers as the region faces up to the "unmodelled" scale of its loss exposures and amid predictions that not all carriers will survive unless recapitalised
07 December 2011
Retro markets turn on Thai loss expectation
The developing Thai flood loss has proved "the straw that broke the camel's back" for the retro market, signalling a hardening environment and a 1 January renewal that will match the reinsurance market for its difficulty and lateness
07 December 2011
Insured losses from 2011 cats set to exceed $90bn
Figures put together by The Insurance Insider from official industry forecasts and market sources suggest that total insured losses from catastrophic events with expected losses of $100mn or more total $94bn
07 December 2011
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