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  • Forecasters Tropical Storm Risk (TSR) have warned that 2006 will be yet another over-active hurricane season in the Atlantic with a higher number than average expected to make landfall in both the US and Caribbean.
  • Ratings agency AM Best has affirmed Montpelier Re Holdings Ltd’s financial strength rating of A- after a review of the company’s capitalisation plans. Montpelier was downgraded to A- from A in October after announcing losses from hurricanes Katrina...
  • Bermudian (re)insurer ACE announced last Tuesday (7 December) that it expects losses from Hurricane Wilma to reach around $250mn, after tax and reinsurance.
  • UK broker Windsor plc revealed that profits were up for an eighth consecutive year – by 9 percent to £5.07mn for the year ended 30 September 2005.
  • Peter Hardy is to retire from his position of chairman at Hardy Underwriting – the company he founded in 1978. Hardy will be replaced by David Mann.
  • A panel of High Court judges has thrown out an appeal by reinsurers against Justice Morison’s 21 December 2004 judgement in favour of claimant reinsureds and defendant brokers on all points in the notorious Aon 77 dispute.
  • The blaze ripping through a UK oil depot could cost insurers up to $900mn according to industry sources. The fire, at the Buncefield depot, 25 miles north of London, followed a series of blasts, which began early on Sunday (11 December)...
  • A panel of High Court judges has thrown out an appeal by reinsurers against Justice Morison’s 21 December 2004 judgement in favour of claimant reinsureds and defendant brokers on all points in the notorious Aon 77 dispute.
  • William Dewsall, the former managing director of Hogarth Underwriting, is set to be appointed CEO of planned construction and liability insurer Gable Insurance AG. The new company is the result of the acquisition of Liechtenstein-based Duke Brown AG...
  • Rating agency AM Best is set to seal its stamp of authority on Bermuda’s “Class of 2005” (re)insurers when it publishes inaugural financial strength ratings for a number of the start-ups in the forthcoming days. At time of going to press, AM Best...