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Axis to grow credit/political risk after Blue City settlement
After cutting the albatross free with its Blue City settlement, Axis Capital offered a bullish outlook over its future participation in credit and political risk insurance.
09 August 2010
London (re)insurers embroiled in $50mn Russian explosion row
London market (re)insurers have become embroiled in a messy dispute involving allegations of fraud and negligence and a potential $50mn claim from a putative terrorist attack on a Russian hydroelectric (HEP) plant.
09 August 2010
Chile deterioration continues in Q2s
(Re)insurers continued to update on developing Chile exposures as the US/Bermudian second quarter reporting season drew to a close last week.
09 August 2010
Industry fears mount over size of liability costs from Deepwater disaster
With the second quarter reporting season well underway, most loss estimates in relation to Deepwater Horizon have stabilised and some, as in the case of XL, have actually been revised downwards.
09 August 2010
(Re)insurers face $400mn BP D&O claim
Despite its penchant for self-insurance, UK energy company BP purchased a $400mn Side A directors' and officers' (D&O) policy in the commercial market via broker Marsh Ltd, The Insurance Insider can reveal.
09 August 2010
GTE Re gets green light for first US solvent ‘scheme’
Rhode Island regulators in a potential landmark decision have given the initial green light to the first accelerated run-off plan in the US.
09 August 2010
Berkshire Hathaway discloses $587mn 2010 cat bill and holds back on capacity
Berkshire Hathaway has revealed nearly $600mn of losses from the heavy toll of cat events for the first half of 2010, while continuing to rein in its reinsurance capacity because of poor pricing.
09 August 2010
Allianz improves CR with reserve releases
German insurance leviathan Allianz Group reported a 22.7 percent rise in operating profit to EUR2.2bn for the second quarter
06 August 2010
Investment gains drive Allied World profits
Allied World Assurance Company Holdings (AWAC)'s net income for the first six months of the year grew to $317.7mn, up from $245.1mn in H1 2009.
06 August 2010
US P&C rates down 3%; 2010 to stay soft
Competitive conditions continue to prevail in the US P&C market, with the composite rate measuring down 3 percent year-on year in July, according to information provider MarketScout.
06 August 2010
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