The US National Hurricane Center has downgraded Hurricane Gustav to a "Category 2" hurricane.
Hurricane Gustav, which is closing in on the coast of Louisiana, could produce a storm surge of between 13 and 18ft if it gets to a Category 4 hurricane as forecast, and may overtop some floodwalls and levees in New Orleans if it were to hit the city,…
The UK insurance industry’s plea to raise flood defence spending levels immediately after this summer's heavy losses, appears to have fallen on deaf ears, after a report from the UK's finance minister revealed no change in policy.
The EU Competition Commission has issued its final report on the business insurance sector and raised concerns about the operation of two areas of business insurance
UK SME broker aggregator Towergate has acquired broker software house Open International Limited for £276m ($550m)from Montagu Private Equity.
The surprise success of Formula 1 (F1) racing driver rookie Lewis Hamilton has had London's contingency market buzzing after it emerged his McLaren F1 team's lead sponsor has covered win bonuses through an insurance policy.
In last month’s (April 2007) issue of the magazine we ran an interview by the journalist Mairi Mallon with Joe Taranto of Everest Re, charting his meteoric rise to chief executive and chairman of this global reinsurer.
AIR Worldwide estimates that Hurricane Katrina could cost the insurance industry between $12 and $26 billion.The insured losses caused by Hurricane Katrina are likely to make it one of the two worst natural catastrophes in US history.
British Petroleum (BP) has confirmed that crews placed aboard the BP operated Thunder Horse platform in the Gulf of Mexico have restored partial power to the listing platform, and are working to begin pumping operations to restore the platform to a…
One of the overriding characteristics of the 1 July reinsurance renewals this year has been their lack of uniformity, according to Aon.
Insurance outsourcing specialist Xchanging has acquired software company RebusIS for an undisclosed sum.
Bermuda-based Max Re has posted a $36.4m net profit for the fourth quarter of 2003, up sharply on the $11m it made over the same period of 2002.
Miller has announced that Nicolas Lyons has been appointed as a non-executive director to the company's holdings board.
Bermuda-based Max Re Capital has announced that Stephan Bub has resigned from the company's board of directors.
The insurance industry has not fully benefited from the increasing amount of earthquake hazard research, according to a leading earthquake expert.
US P&C and reinsurance companies are still "significantly" under-reserved, according to a new report by Moody's Investors Services.
Equitas and US company Halliburton have announced that they have reached an agreement on Halliburton's asbestos-related insurance claims.
AM Best has affirmed the A++ (superior) financial strength rating of Transatlantic Holdings, but assigned a negative outlook to its reinsurance subsidiaries Transatlantic Re, Trans Re Zurich and Putnam Re.
Swiss Re has opened a new office in Washington DC in an effort to get closer to policymakers in the US capital.
Wellington Underwriting's Lloyd's managing agency, Wellington Underwriting Agencies, has appointed Xchanging as its reinsurance claims handler.
Broker Aon has unveiled its latest political and economic risk map of the world.
Rating agency AM Best has revised its review of the financial strength and debt ratings of The St Paul Companies from positive to developing.
GE Frankona Re has announced that it is streamlining its organizational structure and enhancing its strategy.
Bermudian reinsurer Partner Re has announced that it is facing a $27-30m claim from the explosion that wrecked a natural gas plant in Algeria on 20 January this year.