Hardy Insurance
Hardy chairman blames 'challenging years' for £50m losses
Hardy Underwriting Bermuda chairman David Mann has bemoaned the past two "challenging years" for a loss before tax of £42.1m against the previous year's £10m profit.
Acquisition-hungry Beazley still in profit
Lloyd’s insurer Beazley reported a profit of $62.7m, down 75%, despite catastrophe losses and said it had a war chest of more than $400m to buy Hardy, other Lloyd’s businesses or European insurers struggling with solvency II.
Montpelier Re and Mitsui stay quiet on Hardy bids
Bermudan-based reinsurer Montpelier Re and Lloyd’s insurer Mitsui Sumitomo have refused to comment on rumours that they will bid on troubled Lloyd’s insurer Hardy.
Beazley interest in Hardy underlines 2012 consolidation, claims Fitch
Fitch Ratings has reiterated its expectation that 2012 will signal an increased consolidation in the non-life insurance sector, following the news of Beazley's renewed interest in buying Hardy Underwriting Bermuda.
Beazley confirms interest in Hardy
Beazley has confirmed it is interested in buying fellow Lloyd’s insurer Hardy, put up for sale after large Thai flood claims.
Hardy sale: Canopius, Barbican and Aviva linked
As rumours circulate about which insurers will make an offer for Hardy Underwriting, sources have suggested Canopius, Barbican and Aviva could all be interested in the firm.
Editor's comment: Impacting the market
Market-turning they may not be but market-impacting they evidently are. Revised loss estimates for the 1500 industrial units hit by the Thai floods have reached $20bn.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
Buyers queue up for Thai flood-hit Hardy
Hardy Underwriting has said it has had several preliminary expressions of interest in its business after putting itself up for sale following catastrophe losses from the Thai floods.
Hardy reports COR of 111%
Hardy Underwriting said in its Q3 results gross written premiums for the syndicate had increased by 8.5% year on year.
Market moves: All change at Mondial and Marsh
This week insurers were, once again, the main recruiters with the majority of high profile appointments.
Hardy sets December 2010 start date for Singapore operation
Hardy Underwriting Bermuda has announced the opening of its new Singapore office.
Buy Beazley/Lancashire, says adviser
Adviser Collins Stewart says despite Lloyd’s poor results it recommend buying shares in Beazley and Lancashire but issued warnings about Amlin and Hardy.
No market swing despite cat loss accumulation
Loss adjuster Crawford & Company has already settled approximately $1.05m (£653 000) worth of losses from the “high frequency, low severity” claims resulting from Hurricane Irene.
People moves - 1 September 2011
A round-up of people moves and new appointments in the industry, as featured in the 1 September 2011 edition of Post.
Hardy's catastrophe losses still 'uncertain'
Specialist Bermuda-based Lloyd’s insurer Hardy Underwriting has said catastrophe losses added 30 points to its combined ratio and warned revisions of estimates could paint an even worse picture.
News analysis - Lancashire Tax move: Bringing business back to Blighty
With Lancashire set to move its tax residence to the UK, Amy Ellis looks at proposed reforms to the controlled foreign companies rules and asks whether other insurers may follow suit.
Lancashire to redomicile from Bermuda to the UK
Lancashire Holdings today announced that it plans to move to UK tax residency.
M&A - market update: Coming together
Merger and acquisition activity is finally on the rise following a long period of stagnation. Daniel Dunkley looks at what is behind the increase.
Hardy outlines £12m Japan tsunami exposure
In a statement to the London Stock Exchange, Hardy Underwriting Bermuda Limited has issued its guidance on the Japan earthquake-tsunami in March.
Catastrophe losses hold back Hardy profits
Hardy Underwriting’s profits halved to £10m during 2010, after it faced a string of international catastrophe losses with a net value of £37m.
Hardy profit halves to £10m
Hardy has reported gross written premium of £279.4m (2009: £242m) and before tax of £10m (2009: £20.1m).