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  • Embattled Lloyd's (re)insurer Omega Insurance Holdings is set to halt underwriting third-party business from its Bermuda-based Omega Specialty operation, The Insurance Insider understands.
  • After Davis Select Advisors announced last week that it would reject the merger terms offered by Allied World for Transatlantic, the casualty specialist has made a fresh assault on the proposals of its rivals, dismissing Berkshire Hathaway's bid as an "opportunistic attempt" to acquire Transatlantic at a discount.
  • Reinsurers are expected to emerge largely unscathed after Hurricane Irene failed to come close to the major industry event predicted last week, with AIR Worldwide estimating insured losses of $3bn to $6bn in the US.
  • The heavily indebted National Flood Insurance Program (NFIP) could be one of the hardest hit by Hurricane Irene, according to AM Best
  • Insured losses from Hurricane Irene's impact in the US will fall in the range of $3bn to $6bn, according to estimates from cat modelling firm AIR Worldwide.
  • Hurricane Irene turned out to be a damp squib that spared (re)insurers further significant pain after a record first half for catastrophes, but also denied them the potential lit fuse for more widespread price rises.
  • With Irene downgraded to a tropical storm as it made landfall in New York City and headed to Long Island this morning, the worst fears of (re)insurers appear to have been assuaged.
  • The stock market has already begun factoring in Hurricane Irene as shares in giant US insurers Allstate and Travelers dropped 3 percent yesterday (25 August)
  • As Hurricane Irene bears down on the east coast of the US, brokers have transacted livecat industry loss warranty (ILW) deals for traders seeking to hedge against potential losses
  • Hurricane Irene is set to approach the North Carolina coast on Saturday (27 August) as potentially the first major storm to make landfall on the US in three years