South America
First hurricane of 2010 season forms
Hurricane Celia, the first hurricane of the 2010 Pacific season, formed in the eastern Pacific Ocean near Mexico on Sunday but headed away from land, the US National Hurricane Center said.
Lloyd's team heads to Chile
Lloyd’s has sent a team to Chile to help the market better understand the impact of February’s earthquake and assist in ensuring the speedy payment of valid claims.
EMB: Company market lags behind Lloyd's on commercial performance
Commercial property insurance rates are unlikely to rise significantly any time soon despite attempts by some companies to talk up the market, according to an assessment by actuarial consultancy EMB.
Aon lists five earthquke hotspots
Aon Benfield has identified the Caribbean, Cascadia in North America, Chile, Indonesia and Japan as areas where mega-earthquakes of moment magnitude (Mw) 8+ are most likely to occur in the future.
Chaucer seals Latin American tie-up
Chaucer Syndicate 1084 has formed a strategic energy alliance with well control company Boots & Coots, and two international insurance brokers, Mexbrit and Global Special Risks.
Munich Re CEO warns over risk pricing after years of low losses
The long-term trend towards ever higher natural catastrophe costs continues, according to Munich Re, which has warned of complacency over risk pricing.
Bermuda - legal:Towards mutual recognition
Katie Tornari and David Kendall review the steps towards international compliance that Bermuda is taking to safeguard.
Bermuda: Island of the giants
In the wake of the deal between Max Capital and Harbor Point, Seb Kafetz looks at whether bigger is really better in Bermuda.
Results: Rollercoaster results characterise Q1 2010
As first-quarter results emerged around the globe in May, we have seen some clear winners and losers with many suffering from heavy catastrophe losses, writes Katherine Blackler.
US "elevated" up as Aon unveils 2010 Terrorism Threat Map
International counterterrorism efforts appear to be stifling the ability of terrorist groups to mount significant attacks on the scale of those of September 11, 2001, according to the 2010 Aon Terrorism Threat Map.
First named storm of 2010 Pacific hurricane season hits central America
Agatha, the first named storm of the 2010 East Pacific hurricane season was declared on Saturday, located just off the Guatemala coast before making landfall as a tropical storm along the border of Mexico and Guatemala at 22:40 UTC on Saturday.
Lloyd's: Deepwater and Chilean earthquake bill could top $2bn
Lloyd’s announced today that it estimates its net claims before tax from the earthquake in Chile to be in the order of US$1.4bn.
Munich Re most protected from earning volatility claims Fitch
The recent capital markets crisis has created considerable challenges for European reinsurers seeking to minimise the volatility seen in their financial results over the past few years, according to Fitch Ratings.
US investors ready to back second bond push
Towergate believes that there is a healthy appetite among US investors if it goes ahead with a bond issue in the near future. The consolidator postponed its original £665m placing last week, and will bide its time until the beginning of July to see if…
Risk presentation key, claims international broker survey
According to new research commissioned by Bowring Marsh, the quality of the presentation of risk information is crucial to insureds obtaining the most competitive terms from insurers.
Hardy CEO admits 2010 profits will be "diminished" after Q1 losses
Hardy Underwriting said it expects to increase gross written premium volume for the 2010 financial year to more than £300m (2009: £242m).
European GI CEO Annette Court out in Zurich reshuffle
Zurich Financial Services today announced a streamlined management structure and related senior management appointments. The changes come into effect on 1 July.
BMS expands into Latin America
BMS has appointed former Lockton employee Amador Torrealba as a producer, and announced an exclusive agency with JAO & Partners Corredores de Reaseguros S.A, in Peru.
Mapfre and Banco Do Brasil agree link-up
Spanish insurer Mapfre has formed a strategic alliance with financial institution Banco Do Brasil to form one of the largest insurance groups in the South American country.
Hannover Re non-life book hit by major losses
Hannover Re has reported what it described as "vigorous premium growth" in the first quarter of 2010.
Mapfre profits dip 4.8% as it takes €80.8m.earthquake hit
Mapfre has reported a 8.9% rise in revenues in the first quarter of 2010 to €5892.4m, and a net attributable result of €273.1m.
Mapfre Q1 results decline
Mapfre achieved in the first quarter of the year a net attributable result of €273.1m, 4.8% less than in the same period of the previous year, “as the extraordinary results obtained in 2009 by the group’s parent holding company were not repeated.”
Willis international arm hit by "weak" UK and Ireland
Willis has reported net income from continuing operations for the first quarter of 2010 was $204m, compared with $192m in the same period a year ago.
QBE CEO content with alllowances for large claims after $470 Q1 hit
QBE has revealed that its estimated large risk and catastrophe claims, which are defined as net claims of $2.5m and above, for the year to date are $470m. This compares with an estimated net $430m for the same period in 2009.