Earthquakes
Aon Benfield ILS benchmarker
Aon Benfield Securities has launched an insurance-linked securities (ILS) benchmarking tool, Aon Benfield ILS Indices, which provides a quantitative view of ILS returns since December 2000.
Q2 cat bond issuance surge
Guy Carpenter has announced the completion of eight catastrophe bond transactions, totaling $2.05bn of risk capital as investor appetite remains strong.
Hannover Re to sponsor the Global Earthquake Model initiative
Hannover Re and the GEM Foundation have announced their partnership agreement.
Zurich ranks 9/11 and SARS top "mega-disasters" of last decade
Terrorist attacks, hurricanes, and pandemic risks top the list of “Top Ten Mega Disasters” of the past decade, released today by Zurich.
Collins Stewart: main reinsurance markets will continue to soften
Collins Stewart hosted a call with Alistair Lockhart-Smith, MD of JLT Re, for feedback from Monte Carlo on Thursday afternoon.
Ecclesiastical turns focus onto core UK business
Ecclesiastical intends to focus on developing its core UK business, having opted to close its London market operation.
Aon-Benfield: NZ quake unlikely to exceed limits of reinsurance cover
Aon Benfield, which has been monitoring the fallout from the 4 September earthquake in Christchurch New Zealand, said reinsurance cover for insurers is “significantly past what is considered a reasonable return period for business making decisions.”
EQECAT: insurers hit by £1.65bn insured losses in New Zealand
Catastrophe management software firm EQECAT has provided an updated loss estimation for the magnitude 7.1 earthquake that occurred near Christchurch, New Zealand.
Cunningham Lindsey New Zealand CEO: clear up could take “years”
Speaking to Post from Christchurch, New Zealand, Martyn Norrie, chief executive of loss adjuster Cunningham Lindsey’s New Zealand operation, said the operation to restore the city to normality could take “years”, considering government planning and…
Quake impact on ratings "limited"
The damage costs resulting from the earthquake which struck the New Zealand city of Christchurch on 4 September will have "limited negative implications" for insurers and banks in New Zealand.
NZ earthquake losses to near £3bn
Reinsurers are set to be primarily impacted by the 4 September earthquake near Christchurch, New Zealand.
RMS: 30% of New Zealand losses commercial
Based on its analysis of the area exposed to the New Zealand earthquake, Risk Management Solutions has predicted that approximately 60-70% of the insured loss will be residential, and 30-40 percent will be commercial and industrial.
Fitch: reinsurance rates set to rise for Australian firms
Fitch Ratings has commented today on the Australian non-life majors' adequacy of catastrophe reinsurance protection, following the Christchurch earthquake.
New Zealand losses estimated to top £1.3bn
Insured losses from the New Zealand earthquake are estimated between NZD 2700m (£1268m) and NZD 6000m (£2814m).
New Zealand hit by major quake
New Zealand’s second largest city, Christchurch, has been hit by an earthquake measuring 7.4 on the Richter scale.
Reinsurance will absorb quake losses, says IAG
Insurance Australia Group has said it is "too early" to determine the extent of damage in Christchurch following the earthquake at the weekend.
Ecclesiastical blames Chilean earthquake for pre-tax loss
Ecclesiastical has revealed that exposure to the Chilean earthquake was predominantly responsible for its £9.9m pre-tax loss for the first half of 2010.
Omega confirms six-month loss
Omega has reported a pre-tax loss of $34.2m (H1 2009: $22.9m profit) for the first six months of 2010 following a series of catastrophic events.
Weather events cause Ecclesiastical loss
Specialist insurer Ecclesiastical has attributed its pre-tax loss of £9.9m for first half of 2010 to a string of exceptional weather events.
Retail expansion key as Hiscox remains cautious
Hiscox plans to continue expanding its UK, mainland Europe and US retail businesses despite adopting a cautious outlook for the second half of 2010.
Chilean earthquake impacts Amlin profits
Amlin has reported a fall in profits of more than £70m after suffering large losses due to the Chilean earthquake.
Holiday Extras seals Mapfre deal
Holiday Extras is planning to offer more waived conditions, natural catastrophe cover and in-house medical screening after joining forces with Spanish firm Mapfre Asistencia.
Amlin H1 GWP hits £1.5bn, bolstered by 2009 acqusiition
Amlin has reported a profit before tax of £107.6m (H1 2009: £177.1m) for the first six months of 2010 on gross written premium of £1.5bn (H1 2009: £950.1m).
Hiscox profit falls to £97.2m in H1 but ready for "surge" in growth
Hiscox this morning reported a profit before tax of £97.2m for the first six months of 2010 (H1 2009: £141.4m) on gross premiums written of £904.3m (H1 2009: £906.0m).