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  • Although Swiss Re reported only modest deterioration on its credit default swaps (CDS) as it booked a 9 percent fall in 2007 net income to SFr4.2bn last week, its disclosures on credit market exposure and its recent quota share deal...
  • Bermuda-headquartered Lloyd's (re)insurer Hiscox Ltd has been propelled to a record full-year profit before tax of £237.2mn, up 18 percent, by the stellar performance of its Global Markets division.
  • The Port Authority of New York and New Jersey’s claims stemming from 9/11 will be restricted to two buildings a judge has ruled.
  • Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007.
  • Omega Insurance Holdings Ltd Lloyd's Syndicate 958 has withstood the impact of hurricanes Katrina Wilma and Rita to post a profit for 2005, maintaining its pedigree of a pure underwriting profit in every year it has traded since its launch in 1980.
  • Warren Buffett, the chairman and CEO of Berkshire Hathaway Inc, has warned insurers that the party is over and tougher times lie ahead regardless of what the weather does this year.
  • The dramatic lowering of SCA’s rating by Standard & Poor's (S&P) last week from AAA to A- was part of a series of actions by the ratings agency on the troubled bond insurance sector, which has been beset by sub-prime related losses.
  • Robert Hiscox, a former deputy chairman of Lloyd's and one of the most strident voices in EC3, has called the reduction of only 2 percent in the Society's capacity for 2008 "disappointing".
  • Property damage from the earthquake that hit the UK on 27 February is likely to cause insured losses of between £15-30mn, according to initial estimates by Risk Management Solutions (RMS).
  • Swiss reinsurer Glacier Re continued to grow in 2007 with an increase in premiums and the launch of its first securitisation.