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AM Best concerned that reinsurers’ glasses may be half empty
Reinsurers may be optimistic about the potential for premiums to rise after catastrophe losses dented industry capital, but ratings agency AM Best is concerned that price rises will be short-lived
26 April 2011
Lightyear withdraws from Jubilee auction
Lightyear Capital has withdrawn from the auction for Lloyd's insurer Jubilee to leave the path clear for a possible head-to-head bidding war between Ryan Specialty and Torus, The Insurance Insider understands
26 April 2011
Scor confirms $900mn move for Aegon’s Transamerica Re
Scor will spend $900mn to buy the mortality business of US life reinsurer Transamerica Re from Dutch insurance giant Aegon in a deal worth $1.4bn after tax
26 April 2011
Japanese residential payouts reach $2.3bn
Members of the General Insurance Association of Japan (GIAJ) have paid out $2.28bn (186bn yen) in residential housing claims from the Tohoku earthquake and tsunami
26 April 2011
US prices still falling, says RIMS survey
US commercial insurance premiums are still falling despite record first quarter industry catastrophe losses, according to risk managers' trade body the Risk Management Society (RIMS)
26 April 2011
HCC keeps cat losses to $51.5mn
Specialty (re)insurer HCC has announced $51.5mn in catastrophe losses for the first quarter, representing a modest 1.56 percent of the company's 2010 year-end shareholders' equity of $3.3bn
26 April 2011
WR Berkley income flat as CEO claims market is turning
WR Berkley's first quarter net income remained flat at $116mn as chairman and CEO Bill Berkley said the company was benefiting from a gradual turn in the market
26 April 2011
Arch reserve releases help salvage Q1 profit
Bermudian (re)insurer Arch Capital's first quarter net income fell to $19.3mn from $210.5mn in the same period last year
26 April 2011
Major St Louis tornado adds to mounting claims as US storm warnings continue
With several states on tornado watch as another severe weather system threatens the South and Midwest of the US this week, insurers are totting up claims from Friday's devastating twister that struck St Louis, Missouri.
25 April 2011
Chubb net income up 10 percent on lower cat bill
US personal and commercial lines giant Chubb Corporation saw 2011 Q1 net income increase almost 10 percent as the firm followed rival Travelers in reporting a lower cat charge for the first quarter of 2011 than for the same period last year.
25 April 2011
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