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White Mountains profits slump in 2010
White Mountains Insurance Group booked an 80 percent slump in net profits from $470mn in 2009 to $87mn last year, despite a relatively strong performance in its reinsurance division.
07 February 2011
US storms to cost up to $1.4bn
The brutal winter storms that struck the US at the start of February will produce insured losses of between $790mn and $1.4bn, reports catastrophe modelling firm AIR Worldwide.
07 February 2011
Q4 earnings ahead of expectations
Midway through the US and Bermudian Q4 reporting season results have broadly beaten expectations so far, according to UBS analyst Brian Meredith.
07 February 2011
Mining premiums drop for second consecutive year – Willis
Premiums in the mining industry have fallen for the second consecutive year despite a series of catastrophe losses, according to broker Willis.
07 February 2011
New Zealand losses creep past $650mn
Munich Re's revised loss forecast for the New Zealand earthquake has taken the growth in reported reinsurance losses since December past the $650mn mark, analysis from The Insurance Insider shows.
07 February 2011
Suncorp minimises Yasi loss with sideways cover
Australian insurer Suncorp has once again reaped the benefits of comprehensive sideways reinsurance protection, as it revealed its net claims costs from last week's Category 5 Cyclone Yasi will be capped at just $10mn.
07 February 2011
Hannover Re offshore energy rates up 20% at renewal
Rates for treaties covering offshore energy risks rose by 20 percent at the 1 January renewals, according to reinsurer Hannover Re.
07 February 2011
UK court finds piracy ransoms are not illegal or against public policy
Marine insurers have secured further clarity from the UK High Court over one of the crucial issues posed by piracy off the coast of Somalia - the legality of ransom payments.
07 February 2011
Marine hull market expands amid fears of overcapacity
The marine insurance market continues to expand in 2011, despite fears of overcapacity in the core hull and machinery (H&M) sector that has not delivered underwriting profit for more than a decade.
07 February 2011
‘Hard market is $74bn of losses away’
A return to hard market conditions will require $74bn of excess capacity to be taken out of the US property and casualty market, according to global insurance data and analytics provider Advisen.
07 February 2011
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