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AIR estimates Typhoon Roke insured losses at $150mn-$600mn
Japan, still reeling from the billions of dollars of economic damage caused by the Great Tohoku earthquake in March, has largely escaped fresh disaster after a landfalling category 2 storm caused only modest losses
23 September 2011
D-Day for Groupama to avert S&P downgrade
French mutual insurer Groupama faces a further downgrade of up to two notches tomorrow (23 September) by Standard & Poor's (S&P), unless it demonstrates it has acted strongly to ease the ratings agency's concerns over its capital adequacy.
23 September 2011
Brokers now warn over RMS’ new European model
Fresh from the controversy generated by RMS' revised US windstorm model - widely regarded as a key driver for the mid-year rate increases seen for US hurricane-exposed risk - brokers are now warning about the potential consequences of the modeling firm's new European model.
22 September 2011
Lonmar holds up hands over £2mn charge for excessive commissions
London wholesale broker Lonmar Global Risks' 2010 results have been overshadowed by the revelation that the company made a provision of over £2mn to reimburse excess commissions that it charged to marine underwriters.
22 September 2011
Lloyd’s estimates $600mn US tornado loss
Lloyd's has disclosed a preliminary loss estimate of $600mn for the outbreaks of tornadoes in the US throughout April and May.
22 September 2011
Barbican bid makes Omega a three-way tussle
Long-term Omega suitor Barbican has answered recent Haverford and Canopius bids by tabling a nil-premium merger proposal with a post-completion 84p cash tender offer for up to a quarter of the shares
22 September 2011
Lloyd’s holds to H1 cat estimates
Lloyd's senior management has shrugged off industry loss creep in the Japanese and New Zealand earthquakes to say that its initial $3.8bn loss estimate for the first three major cats of the year is holding solid.
21 September 2011
AMI confirms two total reinsurance losses
Ailing New Zealand mutual AMI has confirmed that its reinsurers will be forced to accept two NZ$595mn (US$487mn) total losses from the September and February earthquakes in Canterbury.
21 September 2011
Levene strikes gold
Lord Peter Levene of Portsoken, the outgoing chairman of Lloyd's, has been awarded the rare honour of a gold medal for services to Lloyd's for his role in re-cultivating the market's reputation and gaining access to new territories
21 September 2011
Lloyd’s £700mn H1 loss beats expectations
Lloyd's has disclosed an interim loss of £697mn following record catastrophe claims in H1, but comfortably outperformed the £1.5bn half-year loss forecast by specialist accountancy firm Mazars
21 September 2011
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