Energy
40% chance of storm passing Gulf spill by end of August: RMS
RMS suggested there is just over a 15% chance that a tropical storm or hurricane will pass within 100 miles of the Macondo oil well before the end of July, rising to more than 40% by the end of August, requiring precautionary evacuation of the…
Ascot and Hannover form power pact
Inter Hannover and Ascot Underwriting have formed a dedicated technical underwriting vehicle for the power and utilities industry.
Alex to strengthen as hurricane watches issued for Texas and Mexico
Tropical Storm Alex, the first named system of this year’s Atlantic hurricane season, strengthened as it forced the evacuation of some offshore rigs and pushed swells toward a slick left by the Deepwater Horizon spill.
Hiscox to cut Lloyd's capacity by £100m in 2011
Hiscox has published a summary of its initial 2011 business forecast for Syndicate 33. A full 2011 business forecast for Syndicate 33 will be submitted to Lloyd's by 9 July.
Alex regains tropical storm strength in Gulf
Tropical depression Alex picked up speed over the Gulf of Mexico on Sunday, regaining tropical storm strength, and keeping two key Mexican oil ports closed.
Canopius confirms KGM interest as Lloyd's deadline approaches
Canopius, the largest privately owned Lloyd's insurer, has confirmed it is in talks to acquire up- for-sale motor underwriter KGM, with the deal expected to be completed within a fortnight.
Willis opens new Eastern European base
Willis has received official approval from local authorities to open a representative office in Kazakhstan.
Chaucer seals Latin American tie-up
Chaucer Syndicate 1084 has formed a strategic energy alliance with well control company Boots & Coots, and two international insurance brokers, Mexbrit and Global Special Risks.
RSA chairman rounds on "anti-British" Obama for BP attack
The chairman of RSA John Napier has labelled Barack Obama anti-British for his attack on BP.
RSA SME boss to move to Travelers
Ken Norgrove, director of SME business and chief executive of group renewable energy at RSA, is to return to Ireland to take a role at Travelers.
Willis: Oil rig losses to push up rates
The Deepwater Horizon and Aban Pearl drilling rig losses, which have left energy insurers with a $795m (£542m) bill, will cause rate increases and destabilise the market, Wills has claimed.
CNA Europe names new underwriting bosses
CNA Europe has appointed Paul Dowling and John Taylor to the newly created roles of chief underwriting offer of commercial lines and specialty lines respectively.
P&C assumptions may be torn up after Deepwater incident
Insurers and reinsurers are likely take a hard look at the assumptions used to price property and liability coverages for drilling platforms in the wake of the Deepwater Horizon loss, according to Moody's Investors Service.
News analysis: Will the Deepwater Horizon oil rig losses dent reinsurer capital?
With Swiss Re estimating insured losses of up to $3.5bn, the Deepwater Horizon oil rig disaster could become the largest loss the energy market has witnessed since the Piper Alpha explosion in 1988. Katherine Blackler investigates.
QBE moves to placate shareholder concerns over claims exposure
QBE has moved to distance itself from market rumours about its exposure to the Gulf of Mexico oil rig disaster and UK motor liability claims.
Energy - Deepwater Horizon impact: In deep water?
Stephanie Denton reports on the fallout for the energy market from the recent Deepwater Horizon drilling platform explosion.
AIR: Deepwater spill could affect hurricane season
A report from the modeling firm says that effects of the spill on hurricane season are likely to be minimal but there is a chance the oil could act to prevent or encourage hurricane formation.
Lloyd’s insurer closes in on KGM acquisition as it looks to diversify book
The largest privately owned Lloyd's insurer Canopius has emerged as a leading contender to acquire up-for-sale motor underwriter KGM.
Transocean cannot cap Deepwater Horizon liability says court
Transocean cannot use a 150-year- old statute to cap its liability against claims arising from the Gulf of Mexico oil spill, lawyers for victims of the disaster said at a hearing in federal court in Houston, according to newswire Bloomberg.
Allianz acquires French windfarm
Allianz has acquired the Langres Sud wind farm from project developer, constructor and operator EOLE-RES SA.
Allianz acquires French windfarm
Allianz has acquired the Langres Sud wind farm from project developer, constructor and operator EOLE-RES SA.
RSA unveils launches to regain SME ground
RSA is to launch more commercial products in its bid to become a top-five player in the SME market.
Chaucer reports 11% hike in motor rates
Lloyd's insurer Chaucer this morning reported a drop in gross written premium income to £250.1m (2009 Q1: £257.8m).
Comment: Everything to play for
Solvency II has created a cloud of uncertainty over captive insurance companies. Alan Fleming explains.