Reinsurance
Record insured losses in 2004, claims Swiss Re sigma study
According to the latest study by Swiss Re, catastrophes caused insured losses totaling $49bn worldwide; most of this figure was due to windstorms in the US and Japan. More than 300 000 people died in natural and man-made catastrophes in 2004, with the…
Scott and Frederico not standing for re-election to Ace board
Walter Scott, retired Chairman, president and chief executive, and Dominic Frederico, former president and chief operating officer of Ace have announced that they will not stand for re-election at the Annual General Meeting.
Converium hit by massive loss
Converium has reported a net loss of $760.8m for the full year 2004, which primarily reflects a net adverse impact of $581.3m on the technical result.
Appointment at Guy Carpenter
Recruitment
Bermuda's triangle of new financial guarantee reinsurers
Channel reinsurance, Bluepoint re and ascend make up the new wave of start-up companies to wash up on Bermuda
Hedge fund entrants set to shake up market
The hard reinsurance market and its ease of entry offshore has proved too tempting for cash-rich hedge funds to resist
Reinsurance renewals weather storms
The (re)insurance industry has supported the new class action fairness act in the US, but will it lead to further tort reform?
USA - 2004 a record year for US P/C losses
US property/casualty insurers paid a record $27.3bn for insured property losses to homeowners and bu...
Special factors impacting the reinsurance market in 2005
What can we expect from the reinsurance market renewals later this year?
Atrium profit expectations raised
Atrium Underwriters, the wholly owned subsidiary of Atrium Underwriting plc, today announces the results for its managed syndicates 570 and 609 for the 2002 year of account, updated forecasts for the 2003 year of account and initial forecasts for the…
Broker optimistic over silica claims
Broker Guy Carpenter is cautiously optimistic about developments in silica litigation, claiming it m...
Recall food bill could total billions
Insurers will not foot the bill for the biggest product recall in UK history but the cost of paying ...
US Senate to extend bill
News in Brief
Moody’s announces new appointment
Moody's Corporation has named Jennifer Elliott vice president and chief human resources officer.
Industry support for TRIA extension
The Independent Insurance Agents & Brokers of America (IIABA) has hailed the introduction of a bill in the US Senate to extend the Terrorism Risk Insurance Act (TRIA).
AM Best downgrades Inter-Ocean subsidiaries
AM Best has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and the issuer credit rating to “a-” from “a” for the reinsurance subsidiaries of Inter-Ocean Holdings (Bermuda). The ratings apply to Inter-Ocean Reinsurance…
Silica will not follow the asbestos litigation path, says report
Insurance risk and reinsurance specialist Guy Carpenter and Company has released an update to its 2004 report “Silica A Litigation Sandstorm”. According to the report, two recent developments in silica litigation, although limited in scope, allow some…
Path to success: Property Reinsurance
Emma Branch, property reinsurance underwriter at Gen Re, reflects on her career to date
Appointment at Assurant Solutions
James Carpenter has been appointed head of product management at Slough-based Assurant Solutions. He...
Arch boosts property team with Allianz team leader hire
Arch Insurance has appointed Alex Campbell as property underwriting manager.
Munich Re: renewals add to profit forecast
Munich Re has forecast profit of around euros 1.8bn for 2004 and stated that renewal of non–life reinsurance treaty business at 1 January 2005 has been very successful "despite some Cassandra–like prophecies"
2004 a record year for US P/C losses
US property/casualty insurers paid a record $27.3bn for insured property losses to homeowners and businesses from 22 catastrophic events last year — surpassing losses from 2001 that included the September 11 attack — according to estimates by ISO’s…