Reinsurance
Hurricane Ike claims continue to skyrocket
(BestWire) — Claims from Hurricane Ike continue to skyrocket for the nation's largest property insurer but one catastrophe risk modeler has reduced its estimated onshore and offshore insured losses.
Lloyds insurers may benefit from AIG trouble - KBW
The difficulties at stricken insurance giant AIG "probably" may well lead to a rise in business volumes and profits in the 2009-10 are likely to rise, analysts at Keefe & Bruyette said.
RMS ups insured loss estimates from Ike to $7-12bn
US modelling agency RMS has upgraded its US onshore and offshore insured losses from Hurricane Ike to $7-12bn from its original estimate of $6-16 bn.
Appointment at Integro
Integro has promoted two key executives in its Canadian division. Robert Dunn, managing principal an...
Fitch puts Ike at the top
With estimates among the three major catastrophe modelling firms ranging from $6bn (£3.36bn) to $18b...
Energy insurers bracing for underwriting loss after hurricanes
(BestWire) — The energy insurance industry, already struggling through a difficult underwriting period and massive claims inflation, fear the two back-to-back storms in the Gulf of Mexico could likely push the industry into the red this year.
Moody’s adds to AIG’s woes in rating downgrade
Moody's Investors Service has downgraded the senior unsecured debt rating of American International Group to A2 from Aa3 in light of the continuing deterioration in the US housing market and the consequent impact on the group's liquidity and capital…
Hannover Re says has €23m of exposure to Lehman Brothers
German reinsurer Hannover Re said it has €23m of exposure to collapsed US investment bank Lehman brothers.
Ike probably the third largest US hurricane loss in history- Fitch
With estimates among the three major catastrophe modeling firms ranging from $6-$18bn, losses from Hurricane Ike will be material to both the primary insurers located in the U.S. and to the global reinsurance industry, according to Fitch Ratings in a new…
AIG given permission to use $20bn of funds as collateral to borrow funds
AIG has been given permission by the State of New York to use $20bn of its own funds as collateral to maintain its daily operations.
Flagstone Re's exposure to Gustav and Ike exposure around $85m
Bermudian reinsurer Flagstone said that its preliminary estimate of claims relating to its exposure to Hurricane Gustav are currently expected to be approximately $30m, and exposure to Hurricane Ike are currently expected to be approximately $55m.
Flagstone says has 'zero' exposure to Lehman Brothers
Flagstone Re, the Bermuda-based reinsurer, said that it has 'zero' exposure to collapsed US insurer Lehman Brothers.
Hannover Life Re appoints new head of business development
Hannover Life Re (UK) said it has appointed Paul Casey as its new head of business development.
AIG approaches Fed for $40bn loan for short-term financing - reports
AIG has approached the US Federal Reserve Bank for $40bn in short-term financing, reports have said.
Hurricane Ike may have a $3bn impact on reinsurers - KBW
Hurricane Ike may cost the reinsurance industry around $3bn, according to analysts at Keefe, Bruyette & Woods.
Flagstone Re expects $10-15bn total insured industry losses from Hurricane Ike
Bermuda-headquarted reinsurer Flagstone Re said today that their preliminary analysis estimates that total onshore insured industry losses from Hurricane Ike could range from $10-15bn.
Hurricane Ike hammers Texas Coast
Hurricane Ike has arrived on the Texas Coast, devestating the City of Galveston and threatening Houston.
Ike closes in on Texas coast
Hurricane Ike is closing in on the coast of Texas and may strike the upper Texas coast late Friday or early Saturday, Guy Carpenter said.
Ike causes $200m damage in Turks and Caicos. Bahamas
(BestWire) — As the Gulf Coast watches Hurricane Ike approach, catastrophic risk modelers, Risk Management Solutions, estimates the storm has already caused up to $200m in insured loss in the Turks and Caicos Islands as well as the Bahamas.
Integro set to announce US job cuts - sources
Integro, the US and UK (re)insurance broker, is understood to be set to make a raft of job cuts in its US operations, Reinsurance has learnt. Integro's UK operations are not expected to be impacted.
Ike intensifies to Category 2 hurricane, headed towards Gulf of Mexico
Hurricane Ike has intensified to a Category 2 hurricane and is expected to move to a Category 3 in the next "day or two", according to the US National Hurricane Centre.
Ike path makes $10-15bn of insured losses
If hurricane Ike continues its path towards the Texas coast, $10-15bn worth of insured losses are "quite possibly", according to a senior person at ReAdvisory, reinsurance broker Carvill's research arm.
Omega reports 20% profit
Omega Underwriting has reported profit before tax up 20% to $24.5m (£13.8m) (H1 2007: $20.4m) on pre...
Appointment at Oxygen
Graham Wood has joined Oxygen Re as business development and operations manager of Oxygen Insurance ...