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Hannover Re expects large claim from Gulf of Mexico rig fire

Hannover Re, one of the world's five largest reinsurers, has said it expects a "large claim" from the off-shore oil rig in the Gulf of Mexico that caught fire last Tuesday and sunk two days later, according to the Wall Street Journal.

"A precise estimate isn't possible yet," said a Hannover Re spokeswoman.

Hannover Re considers a large claim as one that costs the company at least EUR5m.

Analysts estimate the rig, named the

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Paul Morden, Munich Re

Paul Morden, CEO of Munich Re UK’s branch is responsible for shaping and delivering reinsurance strategy across the UK and Ireland.

Jason Richards, Swiss Re

As CEO for UK & Ireland at Swiss Re, Jason Richards sits at the centre of one of the most influential reinsurance platforms in the London market, shaping how insurers respond to an increasingly volatile and complex risk environment.

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