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Novae poised to say goodbye to its legacy past
Novae Group, the Lloyd's insurer nearly brought to its knees 10 years ago by a torrent of US casualty reinsurance exposures, looks set to announce that it has finally dealt with its legacy past
07 February 2011
Duperreault: ‘Market psyche' can turn pricing
The catalyst for a turn in the pervasive soft market conditions of the insurance underwriting cycle does not have to be a major event, according to MMC chairman and CEO Brian Duperreault.
07 February 2011
Excess D&O insurers must change pricing model
Directors' and officers' (D&O) underwriters need to change the way they price the excess layers on towers of insurance coverage to avoid the pitfalls of past soft markets.
07 February 2011
Mapfre shrugs off EUR106.1mn Chile hit
Mapfre achieved an 8.7 percent increase in revenues for full-year 2010, despite a EUR 106.1mn hit from the Chilean earthquake.
07 February 2011
Ace cat hit estimate for 2011 $370mn
Global specialty insurer Ace has revealed a threefold increase in pre-tax catastrophe losses for 2010 to more than $400mn, along with guidance that this figure for 2011 already stands at $370mn.
07 February 2011
2010 cats drag Munich Re to loss
Munich Re's full-year profits slid by 5 percent to EUR2.43bn as it reported that catastrophes had cost it EUR495mn in the final quarter of 2011 and pushed its full-year combined ratio over 100 percent.
07 February 2011
Hartford earnings rebound masks tough times for P&C
Full-year accounts for The Hartford show that earnings have rebounded from the losses experienced in 2009, although there was significant deterioration in its P&C earnings during the final quarter.
07 February 2011
Markel earnings leap on large reserve releases
Markel Corp posted a 97 percent combined ratio for 2010, with large prior-year reserve releases in the final quarter enabling the firm to beat Wall Street earnings expectations.
07 February 2011
AFG full year profit dips
US insurance group American Financial Group (AFG) reported an 8 percent year-on-year drop in full-year earnings for 2010 to $479mn, due to deteriorating results from its specialty P&C operations.
07 February 2011
WR Berkley grows 10% as income rebounds
Specialty insurer WR Berkley's full-year net income rose by 45 percent to reach $449mn as the firm bounced back from heavy investment losses in 2009.
07 February 2011
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