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  • (Re)insurer opinion on preferred cat bond triggers has diverged and become more entrenched following losses on parametric bonds in the wake of the Japan earthquake.
  • General Motors (GM) has issued a $1bn loss notification to the markets on its property programme for contingent business interruption (CBI) losses.
  • The Tohoku earthquake and tsunami will produce a total insured property loss of $18bn to $26bn, with life and health payouts lifting losses to a range of $21bn to $34bn, according to Risk Management Solutions (RMS).
  • Claims on the direct and facultative market from industrial conglomerate 3M are set to rise to $250mn, sister title Inside FAC understands.
  • While conservative estimates of contingent business interruption (CBI) losses arising from the Japan earthquake stand at $10bn-$15bn, some commentators have put the bill as high as $70bn, The Insurance Insider understands
  • Reinsurers' rhetoric turned to the prospect of rising cat reinsurance rates in the latest round of loss announcements from the Tohoku earthquake and tsunami catastrophe.
  • US cat underwriters are awaiting loss info on the deadly three-day tornado outbreak, with warnings of more destructive storms on the way this week.
  • Up-for-sale Chaucer plc says it will take a disproportionately high loss from the 11 March Japan earthquake compared to its Lloyd's peers.
  • A strong divergence of views is emerging in the investor and investment analyst community over the impact Japan and other Q1 losses will have both on the US cat market at mid-year renewals and the wider P&C (re)insurance sector as the year progresses.
  • Ascot founder Martin Reith has the backing of private equity (PE) firm Capital Z Partners in his attempt to finance a potential bid for Lloyd's (re)insurer Chaucer, The Insurance Insider has learned.