Reinsurance
Swiss Re sees Q3 profits soar
Reinsurance giant Swiss Re has reported an improvement of just over 60% in group profits for the third quarter.
Lancashire records 48.9% Q3 combined ratio
Lancashire has reported a marginal increase in the combined ratio and a fall in net operating profits in its Q3 results.
Editor's comment: Testing our mettle
US voters were still heading to the polls as Post went to press. But with many north eastern states operating makeshift polling stations and still without electricity a week after superstorm Sandy made landfall, the closely fought election was shaping up…
Munich Re expects "mid three-digit million euro" Sandy hit
Munich Re expects its share of the losses from superstorm Sandy to be in the "mid three-digit million" euro range, based on primary estimates, but remains optimistic of achieving a €3bn profit for the 2012 financial year.
Munich Re: Sandy to drive up property insurance prices
Munich Re's reinsurance operation produced a Q3 operating result of €1.2bn (Q3 2011: €665m) and premium income of €7.5bn (Q3 2011: €6.5bn).
Munich Re estimates Sandy losses close to £400m
Munich Re has estimated its share of the losses from superstorm Sandy at the "mid three-digit million" euro range, despite the high number of individual losses making it difficult to assess the extent of the damage.
Swiss Re obtains hurricane and mortality risks in industry first
Swiss Re has obtained $200m in coverage against North Atlantic hurricane and UK extreme mortality risk through its Mythen Re programme.
Model increases understanding of Swiss flood risk
Aon Benfield has launched a new flood model for Switzerland and Lichtenstein to help quantify financial losses caused by what is considered to be the country's most significant natural peril.
Swiss Re places bonds to combine nat cat and mortality risks
Swiss Re has obtained $200m in coverage against North Atlantic hurricane and UK extreme mortality risk through its new Mythen Re programme.
Scor places catastrophe bond against Europe and US perils
Scor has launched a multi-million pound catastrophe bond to provide protection against US hurricanes and earthquakes and European windstorms as part of a strategy to diversify its capital protection tools.
Caribbean cat risk report issued on Sandy
The Caribbean Catastrophe Risk Insurance Facility has issued a risk report after two of its members, Jamaica and the Bahamas, were hit by tropical cyclone Sandy.
"Largest Atlantic hurricane on record" could bring losses of up to $15bn, warns AIR
Insured losses from Sandy to onshore properties in the US will be between $7bn and $15bn, AIR Worldwide has estimated.
Law firm warns of Sandy coverage gaps
Insurers may struggle to define causes of damage following Sandy's landfall in New York, while the duration of the storm could limit reinsurance cover.
Primary insurers to bear brunt of Sandy, says Fitch
Losses related to Hurricane Sandy will be largely borne by primary insurers, according to Fitch Ratings.
Reinsurers have appetite for Asia-Pac business despite 2011 losses
The first three quarters of 2012 have proved relatively benign in terms of Asia Pacific insured catastrophe losses, according to a new Guy Carpenter report.
Aon Benfield launches Thailand flood model
Reinsurance broker Aon Benfield has created a flood model for Thailand to help insurers better understand exposures.
Xchanging signs five year renewal deal for IMR
Xchanging, the business process, procurement and technology services provider and integrator, has been awarded a five-year extension to its contract to operate the Insurers' Market Repository.
Sri Lankan MP calls for action over bogus reinsurance arrangement
Sri Lanka Insurance Corporation is reported to have lost Rs.208m by entering into a bogus reinsurance agreement.
Philippines earthquake pool moves a step closer
The Philippines insurance industry, government and multilateral lending agencies hope to reveal further details of the country's first earthquake insurance pool in December, it has emerged.
Validus reports Q3 operating income up 50%
Bermudian insurer and reinsurer Validus saw a sharp rise in net operating income for the third quarter of 2012, reporting an increase of $58m.
Lloyd's chair acclaims "massive benefits" of MGAs investing in China
Bank of China, China Re Group, China Insurance Regulatory Committee and the PICC were among the firms and organisations courted by Lloyd's last week as part of an event held in Shangai.
Indian insurers and the international expansion challenge
Foreign expansion is touted as the way forward for Indian insurers. But, while some may look overseas for growth, establishing a business outside the country is not an option for most of India's insurers.
Beazley swoops for Allianz Re regional manager for Singapore role
Beazley is expanding its reinsurance team into Singapore with the appointment of Ben Liang.
Aspen insurance segment drives GWP growth
Aspen has reported a 12.7% increase in gross written premium in the third quarter to $558.4m, the majority of the growth resulting from a 36.2% increase in the insurance segment.