Earthquakes
View from the top: A hard market is coming
I started talking about positive signs of rate movement more than a month ago. While many agreed, not all of the market's 'big three' brokers shared this view. But a few weeks can effect considerable change and now even Aon's soothsayers will probably…
Law change in Japan could override policies
New insurance regulations in Japan could inadvertently heighten the industry's exposure to the Japanese earthquake and tsunami damage and, in some cases, override existing policy wordings, according to a specialist lawyer.
Kiln predicts “excellent” 2009 returns with outlook down for 2010
J Kiln & Co Limited, part of the Tokio Marine Group, has released forecasts for the 2009 and 2010 years of account – with 2009 set to make “excellent returns” and 2010 hit by major catastrophe activity.
Energy insurance remains favourable despite natural catastrophes
Despite an unprecedented number of recent natural catastrophes, conditions remain favourable for most energy insurance buyers, according to Marsh.
Mitsui Sumitomo has “adequate capacity” following Japan situation
Mitsui Sumitomo at Lloyd’s has updated the UK insurance market on the current situation in Japan following the earthquake and tsunami at the beginning of this year.
Legislation set to impact international reinsurers' exposure to Japanese earthquake damage
City law firm Reynolds Porter Chamberlain will explain the important areas of a new Japanese insurance law that will affect reinsurers' exposure to the Japanese earthquake damage at a talk on Friday 20 May.
View from the top: A very bad year
Despite reinsurers' initial talk that the Australian floods and the New Zealand & Japanese earthquakes were earnings — not balance sheet — events, and there would be no impact on rates, the chatter has changed recently, with some now actively hinting at…
Spain hit by two earthquakes in two hours
Two moderate earthquakes struck southeast Spain in less than two hours yesterday, shaking the popular tourist region of Murcia and killing eight.
Lloyd's reveals £2.34bn claims hit from quakes, tsunami and flooding
Lloyd’s has today announced its estimated net claims before tax from the earthquakes this year in Japan and New Zealand and the January 2011 floods in Australia.
Spain hit by two earthquakes in two hours
Two moderate earthquakes struck southeast Spain in less than two hours yesterday, shaking the popular tourist region of Murcia and killing eight.
Energy - overcapacity: Getting plugged in
The energy insurance sector is buzzing at the moment, but Rachel Gordon investigates whether the good times are sustainable.
Munich Re still predicting 2011 profit despite €2.7bn Q1 nat cat hit
Munich Re posted a consolidated loss of €948m (£834m) for the first quarter of 2011 (previous year: profit of €485m).
Chartis COR hits 119% in Q1 as insurer is hit by $1.7bn cat costs
Chartis, the non-life division of AIG, has reported a first quarter operating loss before net realized capital gains of $463 m, reflecting $1.7bn of Catastrophe losses comprised of $1.3bn for the Japan earthquake and tsunami.
Post Europe: Joining up the approach to weather in the Balkans
Weather related catastrophes are common in the Balkans but there is a perception there that the government will always be on hand to help. However, as Sam Barrett explains the only way forward is to create and develop a market to enable the transfer of…
Joining up the approach to weather in the Balkans
Weather related catastrophes are common in the Balkans but there is a perception there that the government will always be on hand to help. However, as Sam Barrett explains the only way forward is to create and develop a market to enable the transfer of…
Lancashire Q1 profits steady at $8.6m despite “significant” cat activity
Lancashire Holdings has recorded a net profit after tax of $8.6m in Q1 2011 (Q1 2010: $8.2m), after incurring $75m costs from the Japanese earthquake-tsunami.
Swiss Re reports net loss of $665m
Swiss Re has reported a net loss of US$665m for the first quarter of 2011, compared to a profit of US$158m recorded in the same period of 2010.
Zurich profits fall 33% in Q1 as it suffers $517m nat cat loss
Zurich Financial Services Group (Zurich) today reported a 33% drop in business operating profit of $849m (Q1 2010: $1.3bn) and a 32% drop in net income after tax of USD $637m (q1 2010: $935m) for the three months ended March 31, 2011.
Mapfre Q1 profits climb 13.5%
Spanish insurer Mapfre has posted post-tax profits of €310.1m (£279.2m) for the first quarter of 2011 – a 13.5% increase on the figure for 2010.
Allianz: Q1 2011 profit to be close to Q1 2010 despite nat cat hit
Based on preliminary figures, Allianz achieved total revenues of nearly Euros 30bn in the first quarter of 2011, compared to Euros 30.6bn in the first quarter of 2010.
Mapfre Q1 profits climb 13.5%
Spanish insurer Mapfre has posted post-tax profits of €310.1m (£279.2m) for the first quarter of 2011 – a 13.5% increase on the figure for 2010.
Allianz: Q1 2011 profit to be close to Q1 2010 despite nat cat hit
Based on preliminary figures, Allianz achieved total revenues of nearly Euros 30bn in the first quarter of 2011, compared to Euros 30.6bn in the first quarter of 2010.
Chubb reports $270m cat hit in Q1 2011
Chubb has reported that the impact of catastrophes in the first quarter of 2011 was $270m (£164m) before tax. This figure includes the winter storms in the US, flooding in Australia, and earthquakes in New Zealand and Japan.
Beazley boss still expects mid 90s COR despite major losses
Lloyd's insurer Beazley this morning said premiums reduced by 3% to $426m (2010 $438m) in the first three months of 2011, with premium rates on renewal business decreasing by 1%.