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GoM insurers now insisting on mid-year rate increases
Energy market turns overnight. We analyse the sector's largest loss since Piper Alpha and include full details of Transocean's insurance programme including all participants.
07 May 2010
Florida market diverges ahead of hurricane season
After a year of company failures, credit risk is now the major worry for reinsurers of $3.5bn cat market. The Insurance Insider has a comprehensive four-page review in advance of the official start to the US hurricane season.
07 May 2010
Catlin keeps London powder dry in Q1; $40mn Deepwater loss
International specialty (re)insurer Catlin Group has reported divergent Q1 premium growth performance, as it grew business strongly in Bermuda and at other locations from its main London hub while shrinking premium volumes written from the UK.
07 May 2010
Chaucer sees $25mn Deepwater loss; energy rates now hardening
Energy rates are hardening as a result of the Deepwater Horizon loss in the Gulf of Mexico (GoM), according to Chaucer Holdings, which estimates a $25mn net loss to its Lloyd's Syndicate 1084 from the disaster.
07 May 2010
Munich Re in FY profit warning as Q1 cats hit home
Munich Re's burden from major catastrophe losses in the first quarter totalled EUR761mn, pushing its quarterly combined ratio to 109 percent and forcing a warning that full-year profit targets are now looking "increasingly ambitious".
07 May 2010
Zurich's profits near $1bn on investment gains
Despite a cat-driven 77 percent fall in the underwriting profits of its general insurance division Zurich Financial Services's (ZFS) investments helped it to post net income approaching $1bn in Q1.
06 May 2010
Brit takes a tenth out of top-line; avoids Deepwater losses
Brit Insurance took its money off the table in Q1, allowing gross written premiums to fall 9.9 percent at constant currency rates as it demonstrated its determination to maintain margins and wait out the soft market.
06 May 2010
CRC execs in mass walk-out to Ryan Specialty
Up to two hundred staff are thought to have resigned en masse yesterday from US wholesale broker CRC Insurance Services to join industry legend Pat Ryan's start-up operation, Ryan Specialty Group (RSG), The Insurance Insider can reveal.
06 May 2010
Argo suffers small dip in Q1 profit
Argo group has posted profit of $20.7mn in Q1 2010 amid $29.1mn in net catastrophe losses for the quarter. The result was a 23 percent reduction on the $27mn in net income posted for Q1 2009.
06 May 2010
RSA stands by modest £30mn Chile loss
UK and international P&C insurer RSA has maintained its £30mn ($45mn) net estimate for the Chilean earthquake.
06 May 2010
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