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Allstate $1bn Esurance price ‘rich’ for online entry
Barclays Capital analysts say Allstate's $1bn purchase of online insurance business Esurance and Answer Financial from White Mountains appears to be a "rich" price for a business that is making weak profits.
23 May 2011
Japanese commercial insurers shrug off £7.5bn quake losses but growth challenges remain
Results for the three largest Japanese insurance groups, published last week, confirm that the trio have weathered the immediate effects of the Great Tohoku earthquake with little fuss.
23 May 2011
Digest
Travelers Lloyd's chairman steps down; Amlin results forecast; BMS poaches another Glencairner; Liberty Mutual Re goes to Conneticut.
23 May 2011
New Residential Re cat bond acting as ILS bellwether
The latest Residential Re cat bond sale currently being marketed for regular sponsor USAA is set to provide a key test of the market's capacity for US wind risk.
23 May 2011
RMS model impact will take time to digest
Insurance-linked securities (ILS) fund managers are "licking their wounds" after RMS released cat bond remodelling statistics under version 11 of its new hurricane model.
23 May 2011
Catco raises an extra $121mn for retro push
London-listed collateralised reinsurer Catco has raised a net $121mn from a new share issue and is seeking to issue another 400mn new shares, according to a stock exchange announcement last week.
23 May 2011
Lancashire’s $250mn Accordion to start playing slowly
Lancashire's new sidecar will not be rushing in to write lots of retrocession, says head of investor relations Jonny Creagh-Coen.
23 May 2011
Our luck will run out, warns Lloyd’s CEO
Lloyd's CEO Richard Ward told the London market last week that its lucky streak on US hurricanes is likely to come to an end.
23 May 2011
NOAA adds to stormy forecasts
The US National Weather Service's National Oceanic and Atmospheric Administration (NOAA) climate prediction centre has released its forecasts for the 2011 hurricane season and is warning that it is set to be another year of high activity.
23 May 2011
Endurance takes $45mn-$55mn US storm hit
Bermudian (re)insurer Endurance Specialty will take a $45 to $55mn loss from the April tornado activity that swept through the southern US states of Alabama, Arkansas, Georgia and Virginia.
23 May 2011
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