Reinsurance
Market change is blowing in the winds
It was all going too well really; a benign hurricane season, roaring investment markets and plenty o...
No Benfield exodus yet
The exodus of Benfield brokers after the takeover of Aon is not expected until after the 1 January r...
Heightened retro prices lead to Munich Re unable to place a storm risk
Heightened retrocessional reinsurance prices have led to Munich Re being unable to retrocessionally get additional reinsurance for a storm risk it wanted to place, said one of its senior reinsurance writers.
Hurricane Ike triggers Caribbean Catastrophe Risk Insurance Facility (CCRIF) to pay out $6.3m
The Caribbean Catastrophe Risk Insurance Facility (CCRIF), the world's first multi-country risk pool is set to make a payout of approximately US$6.3m to the government of the Turks and Caicos Islands, within the terms of that country’s hurricane policy…
Ironshore enters Lloyd's market
Ironshore enter the Lloyd’s market after completing the purchase of Pembroke Managing Agency and Syndicate 4000 which it manages.
Travelers in UK senior staff shake up
Travelers UK has announced the retirement of David Bevan, general manager - sales marketing and distribution - after 16 years service.
Omega profits and premium income up
Omega Underwriting has reported a profit before tax up 20% to $24.5m (H1 2007: $20.4m) on premium income up 7% to $185.9m (H1 2007: $173.1m). Profit after tax was up 34% to $21.8m (H1 2007: $16.3m).
Endurance admits Lloyd's interest
Endurance, the Bermudian insurer said it has been looking at potential Lloyd’s targets in the market.
Former Benfield broker to head Oxygen Bermuda push
Oxygen Insurance Brokers, the Lloyd’s accredited London market insurance intermediary, has announced the expansion of their specialist reinsurance division, Oxygen Re, with the incorporation of Oxygen Insurance (Bermuda).
Swiss Re: elevated inflation poses insurance risk
The reinsurance industry is facing a more challenging business environment characterised by continued soft markets, stock market turbulence and an active hurricane season, according to Swiss Re.
Munich Re speaks of retro market problems
Heightened retrocessional reinsurance prices have led to Munich Re being unable to retrocessionally place some risks, said the company's senior reinsurance underwriters.
Aon Re: industry changing event needed to keep rates level
An industry-changing event of $15bn to $25bn of ceded losses will be needed to keep reinsurance rates at current levels, and a heavy ceded loss of between $40bn and $50bn to push the price of reinsurance up, according to Bryon Ehrhart, president and…
Guy Carpenter warns of
The subprime crisis has meant that the (re)insurance industry is "witness to a new type of catastrophe", according to the chief executive of Guy Carpenter.
Hannover Re expecting minor losses from Hurricane Gustav
Wilhelm Zeller, chief executive officer of Hannover Re, took the opportunity at a press breakfast in Monte Carlo to give an early indication of the scale of losses from hurricane Gustav , which swept across the Gulf of Mexico and Louisiana at the end of…
Heightened retro prices lead to Munich Re unable to place a storm risk
Heightened retrocessional reinsurance prices have led to Munich Re being unable to retrocessionally get additional reinsurance for a storm risk it wanted to place, said one of its senior reinsurance writers.
Exodus of Benfield brokers not expected before January
The exodus of Benfield brokers after the takeover of Aon is not expected until after the 1 January renewals season, sources have told Reinsurance .
Axis CEO Charman says XL is an 'industry takeover target'
XL, the Bermuda-based (re)insurer, is in the sights of the (re)insurance industry, Axis chief executive John Charman was reported to have said at an industry conference.
Hurricane Ike 'intensifies explosively' into Cat 4 hurricane
Hurricane Ike is heaading towards the US SouthEast coast after being upgraded to a Category 4 hurricane.
Four hurricanes forecast for September
A Colorado State University forecast is calling for two major hurricanes and two smaller ones to form in the Atlantic basin in September.
Global Aerospace adds another insurer to pool
Mapfre Empresas is joining the Global Aerospace underwriting pool with effect from 1st January, 2009. .
Quietly optimistic
Monte Carlo Rendez-Vous Preview
Gustav loss estimates
Insured losses from Hurricane Gustav could range between $3.8bn (£2.1bn) and $10bn, according to ini...
Shock resignation hits close to home for RSA
RSA has had an eventful week, with its share price hitting a 12-month high (161.9p on Tuesday) and i...
Hurricane Gustav could be one of the top 10 costliest hurricanes to hit US
(BESTWIRE)-- If initial insured-loss estimates are correct, Hurricane Gustav will rank among the top 10 costly hurricanes to ever affect the United States.