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Insurers brace for flood of Mississippi claims despite NFIP
As the swollen waters of the Mississippi River spill into Mississippi and Louisiana, insurers are bracing themselves for further significant claims in May after a record April for tornado losses.
23 May 2011
PCS takes April tornadoes total to $10bn
Property Claims Service (PCS) has put an initial loss estimate of $5.05bn for the devastating final outbreak of tornadoes and thunderstorms that struck the US last month.
23 May 2011
Fac specialist Apollo looks to treaty post-Japan
Recent Lloyd's start-up Apollo Syndicate 1969 intends to reduce its property direct and facultative (D&F) exposures in Japan for the remainder of 2011 and concentrate instead on catastrophe treaty excess of loss placements, our sister title Inside FAC revealed last week.
23 May 2011
Lloyd’s trio post contrasting 2011 strategies
Last week a trio of small/mid-cap publicly quoted Lloyd's insurers revealed differing growth outlooks for 2011 in their interim management statements.
23 May 2011
White Mountains to join Lloyd’s start-up brigade
Bermudian reinsurer White Mountains will become the owner of the 31st syndicate to start up at Lloyd's since 2007 when it begins trading later this year, research from The Insurance Insider shows.
23 May 2011
Credit insurance sector adapts after financial storms
The credit insurance sector is set to diversify and adapt to meet the challenges of recent years, according to Mike Holley, chief executive at London-based start-up Equinox Global.
23 May 2011
CTC confirms slow start in 2011
Charles Taylor Consulting (CTC) has reiterated pessimistic comments on a slow start to the year in its interim management statement.
23 May 2011
Heath shareholders receive just £32mn in Gallagher deal
Shareholders in Heath Lambert will receive just £32mn from its takeover by AJ Gallagher International, with the remainder of the purchase price going to pay off debt.
23 May 2011
European PI market set to grow to EUR7bn by 2014
The European professional indemnity (PI) insurance market brought in about is set to grow to be worth EUR7bn by 2014, research from Finaccord predicted last week.
23 May 2011
Key Hannover solicitors’ PI underwriter departs
Ross Hood, one of the architects of Hannover Re's aggressive play in the UK solicitors' Professional Indemnity (PI) market, has left the company, The Insurance Insider can reveal.
23 May 2011
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