Flooding
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.
Government cat fund for Thailand
A £1bn Thai catastrophe fund is to be set up by the local government to provide cover for households, small to medium sized enterprises and industrial factories against floods, wind storms and earthquakes.
Q&A Asia: JLT
As part of Insurance Insights new remit to cover Asia, Jardine Lloyd Thompson Asia’s chief executive officer Warren Merritt (pictured)spoke to Francesca Nyman to discussed the broker’s plans there.
Insurers reveal Thai flood losses
Bermuda-based Arch Capital Group has said it expects the company’s 2011 fourth quarter results to be negatively impacted by the severe flooding in Thailand.
Natural Catastrophes poll
The sequence of earthquakes and large number of weather-related catastrophes have led some insurers to brand 2011 the costliest year ever in terms of natural catastrophes.
More M&A expected in Thailand after reinsurers review flood losses
Heavy losses from Thailand’s recent floods are dampening the appetite of global reinsurers to write business in the region.
AM Best affirms Asia Capital Reinsurance Group FSR
Asia Capital Reinsurance Group has had its financial strength ratings affirmed along with core subsidiaries.
Unified response called for as metal theft cases see substantial increase
Insurers are demanding a unified fight for changes to scrap metal sales to cut a spate of thefts, thought by the police to be worth more than £800m — but insurers argue consequential costs could run much higher.