Reinsurance
Munich Re hails offshore wind first
Munich Re claims to have become the first insurer to offer serial loss cover for offshore wind energy units, providing investor security and helping renewable energy gain a foothold in the market.
Hong Kong insurers see 10% premium rise in first nine months
Hong Kong's insurance industry posted a 10% increase in gross premiums in the first three quarters of 2012, to reach $190.1bn, figures published by the Office of the Commissioner of Insurance showed.
Market Moves: Liberty makes three additions
Liberty was the most active recruiter this week, with Liberty International Underwriters appointing two senior underwriters to its aviation team and Liberty Syndicates adding a class underwriter to its war and terrorism unit.
Swiss Re pledges $500m for European infrastructure debt
Swiss Re said today that it has committed $500m for investments in senior secured debt of infrastructure businesses and assets located primarily in northern Europe.
Randall & Quilter buys Finnish reinsurer
Randall & Quilter Investment Holdings has reached agreement to acquire the entire issued share capital of Finnish domiciled reinsurer Alma Insurance Company from Tapiola General Mutual Insurance Company, subject to change of control approval by the Fin…
Swiss Re expecting $900m hit from Superstorm Sandy
Swiss Re is expecting its claims burden from Hurricane Sandy to be around $900m, net of retrocession and before tax.
Sandy to cost Swiss Re $900m
Swiss Re has estimated that its claims burden from superstorm Sandy will cost $900m, net of retrocession and before tax.
S&P: Sandy to hit earnings not capital
Superstorm Sandy is likely to be an earnings rather than a capital event for affected insurers and reinsurers, according to rating agency Standard & Poor's.
Reinsurers remaining risk averse in investment, says Fitch
Rating agency Fitch has said that a barren investment climate is forcing reinsurers to be cautious in their investment strategies.
Q-Re poaches Novae underwriting team
Q-Re, the reinsurance subsidiary of Qatar Insurance Company, confirmed today that is has hired 14 senior reinsurance staff who resigned from Novae in May.
UIB brings in Raven for energy director role
International reinsurance broker United Insurance Brokers has appointed Joss Raven as divisional director of its upstream energy division.
Willis implements Sequel software in UK and India
Willis Re, the reinsurance arm of global broker Willis, has implemented Sequel’s Eclipse broking software.
AIR: entire neighbourhoods hit by Sandy surge
AIR Worldwide has issued a report on the damage patterns caused by superstorm Sandy in the coastal communities of Rhode Island and Connecticut.
Middle East Blog: 2012's soothsayer
How I wish that the end of year results would prove me wrong because that would mean that insurance companies in the United Arab Emirates performed better than expected.
Plumeri puts Sandy industry losses at $50bn
Outgoing Willis chairman and chief executive Joe Plumeri believes that insured losses arising from superstorm Sandy could be up to 10 times higher than the early industry estimates of $5bn (£3.15bn).
Scor attributes £5.7bn GWP to a 'robust' business approach
Global reinsurer Scor delivered a 13% jump in gross written premiums to €7.2bn (£5.7bn) in the first nine months of the year owing to "increased visibility in the industry".
UIB appoints ERC divisional director
United Insurance Brokers has named Lachlan Munn as divisional director of Engineering Risk Consultants.
Catlin sees increase in GWP
Catlin's International underwriting hub saw gross written premiums increase 17% to $727m.
UIB recruits ex-BP manager as engineering lead
Reinsurance broker UIB has named former BP engineer Lachlan Munn as divisional director of its Engineering Risk Consultants business.
Catlin GWP grows 11% as Sandy-hit New York office remains closed
Catlin reported an 11% increase in gross written premium to $4.08bn in the nine months to 30 September 2012 compared with the same period in 2011 (9m 2011: $3.68bn).
Benign nat cats help Swiss Re to $2.2bn net income in Q3
Swiss Re reported net income of $2.2bn in the third quarter of 2012, driven by strong performance from P&C reinsurance and a one-off gain from the sale of the Admin Re US business.
Swiss Re sees Q3 profits soar
Reinsurance giant Swiss Re has reported an improvement of just over 60% in group profits for the third quarter.
Lancashire records 48.9% Q3 combined ratio
Lancashire has reported a marginal increase in the combined ratio and a fall in net operating profits in its Q3 results.
Editor's comment: Testing our mettle
US voters were still heading to the polls as Post went to press. But with many north eastern states operating makeshift polling stations and still without electricity a week after superstorm Sandy made landfall, the closely fought election was shaping up…