Reinsurers benefit in 2009 from recovering investment returns and absence of major catastrophes although 2010 could be more challenging with above average hurricane season expected according to a Cooper Gay report.
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has paid out $7.75m to the Government of Haiti following the Magnitude 7.0 earthquake which struck close to Port-au-Prince on 12 January, causing damage of catastrophic proportions.
The Hartford is planning a new catastrophe bond, reports say.
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Required spread expected to fall by 50 basis points up to the middle of the year
Swiss Re has obtained $150m protection for California earthquake risk through the Redwood Capital XI catastrophe bond programme.
Fitch highlights importance of underwriting discipline
Scor has confirmed the closing of a sixth Atlas Cat bond offer
The total cost of natural catastrophes and man-made disasters in 2009 fell to $52bn from $267bn in the 2008, a survey from Swiss Re has shown.
More competition and capacity spells good news for energy firms
Flagstone launches new hurricane and earthquake Cat Bond Montana Re