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Losses push ILW rates toward record levels
Prices for peak US wind industry loss warranties have risen by up to 25 percent this year and are set to rise further on high loss tolls, wind model changes and a shortage of retro capacity, according to brokers
07 July 2011
Torus vows to continue reinsurance as top executives depart
Private equity-backed Torus has parted company with its two most senior reinsurance executives, Tim Mardon and Jon Sullivan
07 July 2011
Cat bond values fall on tornado losses
Cat bond values fell at the end of June following a month-long rally as the US tornadoes and an aversion to US wind risk took their toll on a number of the traded instruments
07 July 2011
Lloyd’s motor Names invoke memories of litigious past
A call to arms by investors struck by spectacular losses has provoked concerns of an unwelcome trip down memory lane back to potentially costly litigation between Names and their underwriting agents...
07 July 2011
Reinsurers standing at the crossroads
Halfway through 2011, and with the half-year reporting season poised to begin, the reinsurance industry is at a crossroads. With the next major renewal season six months away, all eyes are on hurricanes and RMS Version 11.0
07 July 2011
Massachusetts wind pool renews up circa 8%
Residual insurer the Massachusetts Property Insurance Underwriting Association has modestly restructured its 2011 reinsurance programme, paying around 8 percent more in premium than last year, The Insurance Insider understands
07 July 2011
Cat reinsurers begin long journey to claw back losses
While most of the attention was reserved for the two heavyweight 1 July renewals of Suncorp and Zenkyoren, the last few months have also seen a flurry of significant treaty renewals for programmes hit by the plethora of cat losses in 2010-11
07 July 2011
Amlin estimates storm costs at $50mn
Quoted Lloyd's carrier Amlin expects to incur $50mn of losses from the two major tornado outbreaks in the US in April and May
07 July 2011
Allianz signs EUR500mn contingent capital deal with Nippon
Global insurer Allianz has issued EUR500mn of contingent capital notes to Japanese carrier Nippon Life
07 July 2011
Hanover and Everest reveal Q2 cat losses
Chaucer's new owner The Hanover is to take catastrophe losses of $145mn-$160mn in the second quarter, more than doubling the US insurer's previous loss tally from tornadoes in April
07 July 2011
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