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Melor damage estimates at up to $1.5bn
Estimated insured losses from Typhoon Melor for onshore properties in Japan range from $850mn to $1.5bn, according to risk modelling firm AIR Worldwide.
12 October 2009
Transformed BF Rück tender attracts new bids
Efforts to sell the non-life reinsurance portfolio of Berlin-based run-off group BF Rückversicherung have been revitalised.
12 October 2009
UK mesothelioma claims to peak in 2016
Asbestos-related mesothelioma claims are expected to peak in 2016, with claimants exposed to asbestos between the late 1960s and mid 1970s from a wider industrial base than previously assumed, according to a Marsh study.
12 October 2009
UK bans trading with Iranian companies linked to nuclear programme
HM Treasury has banned UK financial services companies from doing business with two Iranian companies, in a move that could see Lloyd's and London market (re)insurers pull cover.
12 October 2009
Equity markets set to continue as main source of capital
The trend of London market insurers fundraising through equity issuance looks set to continue, with the equity markets persisting as the "predominant source of new capital", according to the latest forecast from banking group Lloyds TSB.
12 October 2009
US judge clears way for Stanford to tap $110mn Lloyd's D&O policy
A US district judge has ruled that Allen Stanford and other executives at the centre of charges relating to an alleged $7bn fraud may seek to tap into defence costs through a directors' and officers' (D&O) policy at Lloyd's.
12 October 2009
'Bumper' 2009 year could soften rates 5% in January
The benign winds that characterised this year’s North Atlantic hurricane season could prove a double-edged sword.
12 October 2009
Fairfax hit by shareholder suit over Odyssey Re buyout
Canadian Insurance combine Fairfax Financial Holdings (FFH) and its directors, including chairman and CEO Prem Watsa have been hit by a shareholder class action suit...
12 October 2009
Gallagher confirms Rattner Mackenzie team hire
AJ Gallagher's London operation confirmed it has hired the trade credit team that defected from former HCC-owned broker Rattner Mackenzie before the entity was sold to Guy Carpenter - a move first revealed by The Insurance Insider.
09 October 2009
Typhoon Melor hits Japanese industrial production
Typhoon Melor has caused substantial disruption to a number of companies in Japan, after making landfall on 8 October near the city of Nagoya, with winds of 139 kph (86 mph).
08 October 2009
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