Natural catastrophes (Nat Cats)
Novae hurt by catastrophe losses
Novae said half-year catastrophe losses added 20% to its combined ratio, taking it to 111% and causing a pre-tax loss of £30.1m (H1 2010: profit £13.8m).
Catlin warns of catastrophe losses
Catlin has said $534m in losses from catastrophes added 32% to its combined operating ratio, taking it to 117% for the first half of 2011.
Hiscox bemoans 'costliest year ever'
Specialist insurer and reinsurer Hiscox was stung by a pre-tax loss of £85.6m (2010: £97.2m profit) in the first half of the year but claims to be "heading towards the sunny uplands of profit".
Amlin expects to fall short on profit expectations
Amlin bosses have admitted the company is unlikely to meet end of year profit expectations, claiming that an “unprecedented level of catastrophes” have severely impacted performance.
Hiscox reports H1 losses of £85.6m in 'worst year ever'
Hiscox has announced a half year pre-tax loss of £85.6m, leading the insurer to claim the year so far has been the costliest year ever for the insurance industry.
Exclusive IP and catastrophe articles now live
Insurance Insight’s weekly update is live with articles on intellectual property and natural catastrophes.
View from the Top: Threat from wave of natural catastrophes?
The spate of natural catastrophes around the world shows no signs of abating.
Ace reports 40% fall in net income
Ace has recorded net income of $607m (£370) in the second quarter of 2011, a drop of 10% on Q2 2010.
Scientific research improves extreme weather planning
Insurers and commodity markets can make better risk decisions thanks to increased scientific knowledge about the twin climate cycles, El Niño and La Niña.
London Mayor must tackle flood risks
The London Assembly’s environment committee has demanded Mayor Boris Johnson take action to reduce the serious risk of flood damage and potential loss of life London faces from severe rainfall.
Beazley combined ratio hit following heavy catastrophe losses
Beazley CEO Andrew Horton admits that the firm’s annual combined ratio target of “around the mid 90s” could be jeopardised by global catastrophes during the second half of the year.
Beazley reveals $24m half year loss
Beazley has announced a $24m half-yearly loss due to its $154m catastrophe losses earlier this year taking its combined ratio to 108%. It has hired Axa’s Dennis Holt to replace Jonathan Agnew as chairman.
Report finds insurance capacity remains buoyant in Europe
Insurers are still vying for lucrative accounts and insurance capacity remains buoyant in Europe, the Middle East and Africa, however, in some areas rates have increased, and insurers have tightened their policy terms and conditions in the second quarter…
Sport - Olympics: The Olympic challenge
With only 12 months to go until the opening ceremony, Rachel Gordon attempts to break through the veil of secrecy and assess the insurance industry's role in the London 2012 Olympics.
Catastrophe rates on the rise as insurers look to recoup losses
Catastrophe rates are on the rise as insurers attempt to recoup heavy losses, however, non-catastrophe accounts with good loss experience remain highly sought after, according to a Marsh report published today.
View from the Top: The role of reinsurance in disaster risk management
Reinsurers are gaining recognition in the light of disasters for the role they are playing in helping insurers, governments and society as a whole to deal with today’s risk landscape.
Willis: weather losses cause fall in cat bonds
Willis has blamed unprecedented natural catastrophe losses and changes to US hurricane models for a drop in catastrophe bonds.
Perils extends to Norway and Sweden
Catastrophe data provider Perils has extended its market coverage to include Norway and Sweden so all areas that could be hit by a European windstorm are covered.
Commercial property - Business interruption: Dealing with disruption
Deficiencies in business interruption policies have long been a source of debate, but what can be done to improve them, asks Veronica Cowan.
British Insurance Awards 2011: A co-ordinated response
SERVICE PROVIDER OF THE YEAR - WINNER CRAWFORD & COMPANY
British Insurance Awards 2011: Setting the standard
THE MAJOR LOSS AWARD - WINNER - FITZGERALD CONSULTING
Sferen posts first year losses of €4.8m
Sferen, the mutual group formed by Macif, Maif and Matmut at the end of 2009, has posted its first combined results, a loss of €4.8m.
Aon Benfield to talk on assessing natural disaster risks
Aon Benfield is holding a seminar on assessing the risks of natural disasters after reporting that catastrophic losses in the first quarter and Solvency II are driving the need for insurers to boost their understanding of non-modelled perils.
Amlin sees international cat renewal rates rise by 50%
Lloyd's insurer Amlin estimates net claims from the two major US tornadoes during April and May 2011 of approximately $50m.