Flooding
Amlin estimates $50m-$70m in Thai floods claims
Lloyd’s (re)insurer Amlin said today it expects property and casualty reinsurance claims for the Thai floods to be in the range of $50m to $70m (€53m), net of reinsurance recoveries.
Flood forces Essex residents out of homes
Around 30 homes were evacuated in Essex after water started gushing from a drain this morning.
Amlin reports renewal rates up 4% in 2012
Amlin has written total income to date of £746.4m in 2012, net of brokerage - a 19.2% increase on the prior year.
Reduced capacity in Asia will not affect all business lines
Despite catastrophe losses leading to reduced capacity in the Asia Pacific region, competitive rates are still possible on some lines, according to broker Marsh.
Government drops flood subsidy hint as Defra weathers harsh criticism
The government has hinted it is prepared to agree to some form of subsidy for flood-prone homes to enable insurers to continue to provide affordable cover.
View from the top: Expect the unexpected
The industry must continue to adapt and evolve to meet constant changes to the market, says Mark Hodges.
Boston and Skegness top flood risk table
The Association of British Insurers has revealed that Boston and Skegness in Lincolnshire is the constituency with the most homes at significant risk of flooding in England and Wales.
Lancashire "best placed" for price rises
Lancashire Holding’s decision to increase its reserves for the Japan earthquake and Thai floods removes uncertainty that exists with other firms and makes it a good buy, according to analysts at Jeffries.
Insurers call for government to tackle flood risks
Insurers have demanded the government “grasp the nettle” and tackle flooding risks after the Public Accounts Committee demanded a renewal of the voluntary flood insurance agreement.
Japanese insurance giant plots merger
NKSJ Holdings, Japan's third-largest general insurer, is planning to merge its two main units, Sompo Japan and Nipponkoa Insurance, according to report.
Zurich's 2011 cat losses may trigger aggregate reinsurance
Zurich Financial Services expects the impact of the floods in Thailand and the increased cost of the earthquakes in New Zealand in the fourth quarter of 2011 to range between $200 and $250m (€189.9m).
UK faces 100 climate change risks
A government report claims the UK is one of the best-prepared nations for the implications of climate change but lists the top 100 risks the country faces.
Renaissance Re adds $45m Thai losses
Renaissance Re estimates the flooding in Thailand will cost it $45m (£29m) from its fourth quarter 2011 results but it said revisions of the New Zealand earthquake and the Tohoku earthquake losses are not expected to be significant.
Zurich’s Thai flood and NZ quake losses trigger aggregate reinsurance
Zurich has said it expects the impact of the floods in Thailand and the increased cost of the earthquakes in New Zealand in the fourth quarter 2011 to range between $200m - $250m (£160m).
Reinsurance - January renewals: Toughen up
Despite the catastrophes of 2011, the predicted — and much needed — January renewal rate hardening has failed to materialise.
Spotlight on environment: Extreme measures
Extreme weather events can have enormous economic costs, with huge uncertainty surrounding them. So how can this uncertainty be communicated in a meaningful way to decision makers?
Spotlight on environment: Providing protection
With climate change increasing the likelihood of natural disasters, insurers must influence the debate on how businesses and governments manage risks such as supply chain failure.
Spotlight on environment: Getting protected
When the Statement of Principles on the provision of flood insurance expires next year, how will insurers address the 200 000 high-risk households left struggling for cover?
Thai insurance giant seeks 20% growth in 2012
Muang Thai Life Assurance is seeking to expand its business by more than 20% to 40bn baht (£800m) this year, according to reports.
HCC: Thai flooding cost $10m in Q4
HCC Insurance Holdings has revealed fourth quarter Thailand flooding catastrophe loss estimates of $10m (£6.4m), taking the year’s losses to $117m.
Reinsurers reluctant to cover Thai cat fund
Global reinsurers may be reluctant to cover the recently announced Thai catastrophe fund if asked to by the nation’s government, according to market analysts.
Fairfax takes 25% Thai Re stake
Financial services company Fairfax is to acquire approximately 25% of the issued and outstanding shares of Thai Re in a deal worth approximately $70m.
View from the top: Lessons from the East
Catastrophes in Japan showed the resilience and strength of the industry, says Andrew McKee.
Thai cat fund given green light by regulator
The Office of Insurance Commision, Thailand’s insurance regulator, has passed a resolution to establish a 50bn baht (€1.2bn) catastrophe fund for floods, windstorms and earthquakes.