Storm
AIR updates European cyclone model
Catastrophe risk modelling firm AIR Worldwide has released an update to its extra tropical cyclone model for Europe.
LAS joins Fortis panel
LAS has been appointed to Fortis’ panel for roof inspection, validation and fulfilment claims.
Climate change: Change on the horizon
Climate change is happening. Peter Höppe writes that the industry must act to limit global warming and also to provide adequate risk management and natural catastrophe cover, particularly in the developing world.
Catastrophe: Put a (stronger) lid on it
Natural catastrophe models have been transformed through scientific research, growth in global and localised observation systems and modeling technology enhancements. But despite this, uncertainty remains, say Claire Souch and Michael Kistler.
IAG UK reports full year loss of $355m
Insurance Australia Group today announced its UK business had recorded a loss of $355m for the year ended 30 June 2010 (FY09 $113m), a margin of minus 65.5% (FY09 15.2%).
Danish insurer Tryg Vesta recovering from "extraordinary" claims
Danish insurance group Tryg Vesta has reported that the business is back on track after a first quarter "where extraordinary winter claims caused a loss on the insurance business".
Danish insurer Tryg Vesta recovering from "extraordinary" claims
Danish insurance group Tryg Vesta has reported that the business is back on track after a first quarter "where extraordinary winter claims caused a loss on the insurance business".
First significant household fraud conviction
The imprisonment of two men for trying to defraud insurance companies for household claims worth more than £100 000 has been described as the industry's first significant conviction for household fraud.
Willis, Munich Re and Allianz seal European windstorm deal
Perils AG, the Zurich-based company providing industry-wide European catastrophe insurance data, today announced that in the first six months of 2010 the total placements of insurance risk transactions based on Perils industry loss index exceeded $250m.
Nat cat losses more than double average in first half 2010
Insurers’ losses from natural catastrophes, including the February earthquake in Chile, totaled $22 billion in the first half of the year, more than double the average for the period since 2000, according to Munich Re.
Claims - Real estate: Estate of play
With real estate investment going global, Graham Smart examines the insurance industry's approach to protecting the assets involved.
Interview - Stefano Tranquillo: Sticking to the principle
FM Global's Stefano Tranquillo may have a diverse background but, he tells Lynn Rouse, the company has achieved first-class underwriting results using a risk management model that has changed little in the 175 years since it was founded.
Lloyd's credit rating affirmed by AM Best
AM Best has affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a+” of Lloyd’s of London and Lloyd’s Reinsurance Company (China).
40% chance of storm passing Gulf spill by end of August: RMS
RMS suggested there is just over a 15% chance that a tropical storm or hurricane will pass within 100 miles of the Macondo oil well before the end of July, rising to more than 40% by the end of August, requiring precautionary evacuation of the…
Hiscox to cut Lloyd's capacity by £100m in 2011
Hiscox has published a summary of its initial 2011 business forecast for Syndicate 33. A full 2011 business forecast for Syndicate 33 will be submitted to Lloyd's by 9 July.
Hiscox to cut Lloyd's capacity by £100m in 2011
Hiscox has published a summary of its initial 2011 business forecast for Syndicate 33. A full 2011 business forecast for Syndicate 33 will be submitted to Lloyd's by 9 July.
THB profits up in first half
THB this morning reported a 21% rise in broking profit to £3.9m on fees and commissions of £24.6m (H1 2009 £23.3m).
Levene laments 2010, the year of "direct hits"
The chairman of Lloyd’s has described 2010 as the year of “direct hits”.
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.
Willis chair: risk models can help alleviate poverty
The scientific models used by the insurance industry to assess the financial risks of extreme weather events could help governments and aid agencies develop new approaches for sustainable development and poverty alleviation, according to Rowan Douglas,…
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.
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.
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.
Aon Benfield: Reinsurance capital reaches record rates
Reinsurer capital rose to record $434bn (£295bn) despite the Chilean earthquake and European windstorm Xynthia, the Aon Benfield Renewals Update report has revealed.