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Reinsurers’ combined ratios to reach 108% in 2011
The brutal roll-call of catastrophe losses in the first half of the year will drag the reinsurance sector's average combined ratio to 107.9 percent in 2011, according to Fitch Ratings.
05 September 2011
Flood debate to muddy ultimate Irene industry burden
Although Irene delivered significantly lower insured losses to the industry than first feared, determining the final impact on US primary carriers is likely to be a drawn out process with potential for loss creep.
05 September 2011
Low 2011 claims continue in airline sector
Global broker Willis has added to the growing consensus that an uptick in loss activity in July will not be enough to tip the sluggish status quo in the airline insurance market.
05 September 2011
London market flexes £13bn muscle outside Lloyd’s
The London company insurance market is significantly larger than previously thought and brought in £12.6bn net premium income in 2010, a survey from industry body the International Underwriting Association (IUA) has revealed.
05 September 2011
Industry converges in London on eve of Monte Carlo
In one of his first public speaking roles since stepping down as chief executive of American International Group in 2008, Martin Sullivan will address 300 London market executives and investors later this week.
05 September 2011
AHJ profits up 11% on windfall income; denies ‘for sale’ intentions
Pre-tax profits at London market independent reinsurance broker Alwen Hough Johnson (AHJ) strengthened by 11 percent to £2.13mn in 2010, but company chairman Hugh Price stressed that readers should not be "deceived" by what they saw at "first glance".
05 September 2011
R&Q share price drops after interim results
Randall & Quilter (R&Q)'s share price dropped 5 percent last Friday (2 September) after its interim results fell below analysts' expectations.
05 September 2011
Marsh plots African expansion with Alexander Forbes purchase
Global broker Marsh has agreed to purchase the brokerage business of South African firm Alexander Forbes for upwards of 808.7mn rand ($112.7mn), in a move that will bolster Marsh's African presence.
05 September 2011
Reinsurers prepare for Japan creep as Zenkyoren revises $8.5bn loss
Reinsurers including Axis, Berkshire Hathaway, Platinum Re and RenaissanceRe's Top Layer Re are likely to be affected when the giant Japanese co-operative Zenkyoren increases its March earthquake loss estimate later this month.
05 September 2011
Lee forces evacuation of a third of GoM platforms
Tropical Storm Lee has led to the evacuation of more than a third of platforms and rigs in the Gulf of Mexico, according to figures from the US Bureau of Ocean Energy Management, Regulation and Enforcement (Boemre).
05 September 2011
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