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  • Japanese P&C (re)insurers received a positive outlook from ratings agency Moody’s when in its latest report it said there was a low to moderate possibility of a ratings action in the next 12-18 months on the sector.
  • An excellent first-half to 2005 for European reinsurers has been eclipsed by the third-quarter catastrophes which are set to make this year the most expensive ever for the (re)insurance industry. That was the conclusion from reinsurance broker Benfield...
  • Shares in Bermuda headquartered GoshawK slumped 18 percent to a low of 19.5p last week, before recovering to close at 24.5p today (10 October), after the troubled reinsurer more than doubled its estimate of net losses stemming from Hurricane Katrina...
  • Troubles mount as company receives Wells Notice AM Best has placed Bermudian reinsurer RenaissanceRe and its subsidiaries under review with negative implications for financial strength and debt ratings.
  • As the industry begins to question the reliability of catastrophe loss modellers in the wake of Hurricane Katrina’s devastation, there is still great variation on the estimates of the losses.
  • The growing frequency of downgrade clauses could trigger a run on the bank if the rating agencies react with a slew of negative actions. The threat of a Post-Katrina liquidity crunch has grown as the rating agencies have become more aggressive...
  • The Property Claim Services unit of the Insurance Services Office has released its estimate of insured losses incurred as a result of Hurricane Katrina at approximately $34.4bn, making it the most expensive catastrophe ever for US property/casualty...
  • In our regular monthly International News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • Reinsurance broker Glencairn has announced it has hired Mark Ter Haar as business development director, as part of its acquisition of IoRisk Solutions.
  • Uncertainty over the ceiling for insured losses arising from Hurricane Katrina remains, as (re)insurers continue to revise estimates upwards. On Friday (7 October), shares in Bermuda-headquartered GoshawK tumbled after it revealed its gross losses...