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  • Japanese "big three" insurer Tokio Marine has issued a $160mn private cat bond in the latest sign of private market expansion, as the public cat bond pipeline slowed mid-year.
  • Lloyd's insurer Chaucer - owned by The Hanover - has again drawn a blank in its attempt to spin-off its credit crisis-exposed Syndicate 4000 legacy
  • Investors in the $100mn tornado bond Mariah II are set to incur losses as totals for events covered by the bond pass its $725mn trigger, according to an update from ratings agency Standard & Poor's (S&P).
  • Brokers estimate that the industry loss warranty market has expanded by a further $1bn-$1.5bn over the past year due to increasing demand following the 2010-11 cat losses and improved coverage terms
  • Lord Peter Levene, the outgoing chairman of Lloyd's, has warned the UK to end the culture of "self-imposed flagellation" to prevent London from losing its competitive edge as a centre of financial excellence
  • Insurance companies are facing payouts of more than $100mn to cover the cost of wildfires in Texas over the long Labor Day weekend, according to the Insurance Council of Texas.
  • Flooding from Hurricane Irene and Tropical Storm Lee has increased pressure for reform of the US National Flood Insurance Program (NFIP) just weeks before it expires
  • Hurricane Irene will hit primary insurers' pockets rather than being passed to reinsurers, analysts and ratings agencies predicted after the storm became the first to hit the US coast in three years
  • It is debateable whether the underperformance of certain (re)insurers' international books indicates that the geographically diversified property cat model has failed.
  • With the exception of the recently de-listed Brit Insurance, all Lloyd's insurers reporting half-year results fell into the red. This was largely a result of Q1 international catastrophes, dominated by New Zealand and Japan, which led to deteriorating losses in Q2.