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Bermudian grandees take their final bow
There have been a flurry of departures in the past year as a generation of (re)insurance executives responsible for building significant Bermudian carriers walk off into the sunset.
09 August 2010
Forecasters ease US 2010 storm predictions
The meteorologists who have predicted an above-average 2010 storm season are rapidly revising their forecasts after another subdued start.
09 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.
09 August 2010
HCC profits dip while London grows
Net earnings at HCC Insurance Holdings fell back by 11 percent to $155mn in the first half of the year, as the effects of higher claims were compounded by growing operating expenses.
09 August 2010
Allstate operating profits up
Allstate bucked the general P&C earnings trend with a 48.5 percent uptick in Q2 operating earnings to $441mn, although net profits fell on realised capital losses.
09 August 2010
Underlying profits down at The Stag on cats and asbestos charges
The Hartford Financial Group turned a prior-year $15mn net loss into net income of $76mn during Q2, but higher-than-expected catastrophe losses and an $110mn asbestos charge contributed to a slump in underlying profits.
09 August 2010
Liberty Mutual’s Q2 income slides as cat losses mount
US insurer Liberty Mutual took an 18 percent slide in net income to $220mn over the second quarter, on mounting catastrophe losses.
09 August 2010
AM Best downgrades State Farm Florida over capital concerns
State Farm Mutual's Florida company has had its financial strength and issuer credit ratings cut by AM Best, highlighting ongoing concerns over the fragile capitalisation of the state's insurers.
09 August 2010
Italian med mal losses continue to bite Markel
US specialty (re)insurer Markel International has increased its loss reserves for medical malpractice business by $28.8mn, as the fallout continues from historic Italian hospital claims in the London market.
09 August 2010
PartnerRe reveals barren US crop forecast after reforms
Major US crop reinsurer PartnerRe illustrated the potential impact of legislative reforms on the sector, revealing it expects its 2010 underwriting to come in at around a quarter of 2009 levels.
09 August 2010
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