Energy
Comment: Everything to play for
Solvency II has created a cloud of uncertainty over captive insurance companies. Alan Fleming explains.
Oil spill could cost $3.5bn
The Deepwater Horizon oil slick approaching the Louisiana coastline could cost the insurance industry $3.5bn (£2.3bn).
Beazley sees significant gains in reinsurance and property in Q1
Beazley has reported a 195% increase in premiums to $438.2m in quarter one 2010 (Q1 2009: $368.9m). It added average rates decreased by 1%.
Gulf spill to harden US energy rates - MarketScout
The premium and corresponding rates for all lines of commercial property and casualty business in the United States were down 4% for the month of April 2010.
Chaucer expecting $25m oil spill hit
Lloyd’s insurance group Chaucer has estimated losses of $25m (£16.9m) to Syndicate 1084 due to the explosion of the Deepwater Horizon oil platform in the Gulf of Mexico.
Catlin confident Deepwater and Chile quake will have positive impact on pricing
Catlin this morning reported gross premiums written increased by 9% to US$1.3bn during the three month period ended 31 March 2010. Using constant exchange rates, gross premiums written rose by 5%.
Gulf explosion: Losses mounting up
Losses from the explosion of BP's Deepwater Horizon Platform are expected to be among the largest seen by the energy insurance market.
Climate change: Storm in a teacup
Was the 'climate-gate' incident blown out of proportion? Dr Andrew Dlugolecki looks at the facts behind climate change and why a couple of e-mails do not contradict the science.
Validus to take hit of up to $45m from Deepwater Horizon oil platform
Validus has provided an estimate of losses from the Deepwater Horizon oil platform loss in the Gulf of Mexico.
Deepwater Horizon rig to cost PartnerRe $60-70m
PartnerRe has provided its initial estimate of expected claims relating to the recent explosion of the Deepwater Horizon Drilling Platform in the Gulf of Mexico.
Deepwater Horizon oil rig continues leaking oil as claims rise
Owner BP expects its self-insurance and captive insurance to cover costs associated with a massive clean-up effort, which has been said to be costing $6m a day.
Hannover Re expects large claim from Gulf of Mexico rig fire
Hannover Re, one of the world's five largest reinsurers, has said it expects a "large claim" from the off-shore oil rig in the Gulf of Mexico that caught fire last Tuesday and sunk two days later, according to the Wall Street Journal.
Allianz committed to energy market despite RSA review
Allianz has vowed to assist any brokers affected by RSA’s review of its energy efficiency services. RSA has stopped actively promoting the service, which helps clients comply with the Energy Performance of Buildings Directive.
US mine owners had no BI cover
Massey-Energy, the company in charge of a West Virginia mine where 25 people were killed after an explosion earlier this week is understood to not have had business interruption insurance.
RSA takes stock of energy offering with wholesale review
RSA has stopped actively promoting its energy efficiency services while it considers the future of its offering in the market.
Post in print - 8 April
Rehab hits general election agenda; Zurich rethink in wake of Quinn; RSA reviews energy strategy; Marsh wins Commenwealth double; and Capita reflects on McLarens Toplis.
US mine explosion claims 25 lives
An explosion in a mine in West Virginia has killed at least 25 people, various news agencies have reported.
RSA considers market position with review
RSA has stopped actively promoting its energy efficiency services while it considers the future of its offering in the market.
Carroll set to depart Canopius
Canopius Managing Agents underwriting director Tim Carroll is set to leave the company less than 18 months into the role.
AJ Gallagher swoops for two Lockton brokers - sources
Garry Taylor and Dave Cousar are set to join growing acquisitive broker AJ Gallagher, Reinsurance sources have said.
Aon claims market leading position with deal
Aon has acquired the local German broker Versicherungsmakler which specializes in placing insurance for environmental projects.
Energy losses from Chile quake will not exceed $350m - Marsh
Marsh has estimated that energy insurance losses from the Chilean earthquake will not exceed $350m, following a review of expected claims by its energy claims specialists.
Canopius delivers profit of £55m for 2009
Canopius Group, the privately-owned Lloyd’s insurance underwriting business, has reported profit before tax of £55m up from £43m in 2008 and profit before tax excluding foreign exchange on non-monetary items of £74m.
Looming climate change scheme needs attention, warns Allianz
Allianz Engineering is reminding brokers of the imminent introduction of a government backed climate change and energy saving scheme which could affect 20 000 UK businesses.