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Suncorp reports $1.4bn loss from Aussie flooding
Australian insurer Suncorp has disclosed losses from the Q4 2010 and Q1 2011 Australian flooding of $1.42bn (A$1.33bn).
06 June 2011
Joplin tornado causes $600mn hospital loss
FM Global looks set to face a potential $600mn loss following devastating tornado damage to the St John's Regional Medical Center in Joplin, Missouri, our sister publication Inside FAC understands.
06 June 2011
US weather losses ‘in excess of $20bn’
Reinsurance brokerage Holborn has warned that US catastrophe losses since April are likely to exceed $20bn.
06 June 2011
Major loss tally hits $115bn for 15 months
Since the Chilean earthquake struck on 27 February last year the (re)insurance industry has suffered $115bn of losses from major cat events, reinsurance brokerage Holborn estimates.
06 June 2011
AmWINS and RSG to give Aon 12.5% commission
AmWINS and Ryan Specialty Group (RSG) agreed to pay Aon a minimum of 12.5 percent commission on wholesale business before being appointed as its exclusive US partners, The Insurance Insider can reveal.
06 June 2011
TWIA pays 65% RoL increase for reinsurance return
The Texas Windstorm Insurance Association (TWIA) paid around 16 percent rate-on-line (RoL) for $636mn of reinsurance cover as it joined fellow residual insurer Citizens of Florida in returning to the private market after a two-year hiatus.
06 June 2011
Guy Carpenter highlights volatile pricing at 1.6
Guy Carpenter has highlighted the difficulty in making like-for-like comparisons on rate movements at a "volatile" 1 June renewal amid significant model changes that it said have caused "heightened buying activity".
06 June 2011
Aviation rate increases hover at 5%, says Aon
Underlying hull and liability premiums for airlines have increased by 5 percent on average so far in 2011, according to an Aon report.
06 June 2011
Former Jubilee CEO to join Deloitte
Former Jubilee group CEO Clive Buesnel is poised to join global accountancy and consulting firm Deloitte, The Insurance Insider can reveal.
06 June 2011
Limited reinsurer pool challenges US casualty
A fall in the number of reinsurers willing to write US casualty reinsurance is creating an even more challenging environment for carriers suffering from prolonged soft pricing and recent losses in the excess market.
06 June 2011
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