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Ecclesiastical withdraws earthquake cover for New Zealand policies
UK mutual Ecclesiastical Group has withdrawn from writing earthquake cover in New Zealand following huge gross losses from the Christchurch temblors
29 September 2011
Sagicor syndicate to exit casualty treaty
Sagicor at Lloyd's has announced that it will no longer write casualty treaty business. This comes just five months after the firm pulled out of the property treaty reinsurance market.
29 September 2011
Aon Benfield confirms $15.9bn Oz/Nz payout
Since the beginning of 2010 reinsurers have paid Australian and New Zealand insurers $15.9bn to cover a series of catastrophic losses - a sum equal to almost two thirds of the total insured loss
29 September 2011
Chubb estimates Irene losses of up to $375mn
New York-listed US insurance giant Chubb has become the latest carrier to disclose its estimated losses from Hurricane Irene, revealing that its net costs are likely to be in the range $300mn-$375mn
29 September 2011
BMS builds out analytics team with Willis Re and Guy Carp hires
Expansive broker BMS Group has continued to build out its analytics team with hires from its larger rivals Willis Re and Guy Carpenter.
29 September 2011
$100mn Reno Air liability policy partially placed in Lloyd’s
The $100mn liability policy of Reno Air Races, the organisers of an air show where 11 people died earlier this month when a vintage fighter plane crashed into spectators, was partially placed in the Lloyd's market, according to sister title InsideFAC.
28 September 2011
Xchanging gains control of Aon broker outsourcing platform
London market service provider Xchanging has gained full control of Xchanging Broking Services Limited (XBS), the insurance services platform it established with Aon.
28 September 2011
Guy Carpenter launches Iceland earthquake model
Guy Carpenter has introduced a new earthquake model for Iceland, which the broker said provides (re)insurers with a fully probabilistic tool for managing potential exposures.
28 September 2011
Hampden widens H1 losses
Lloyd's investment vehicle Hampden Underwriting has declared a net loss of £536,000 for the first half of 2011, widening from the £58,000 loss reported for the same period last year.
28 September 2011
Typhoon Roke loss estimates converge at up to $600mn
Typhoon Roke caused insured losses worth $300mn-$600mn, according to estimates from modelling firm Eqecat
28 September 2011
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