All News articles – Page 308
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Online onlyUS faces $5.5bn insurance bill for April storms
Latest insured loss estimates from April’s severe storms in the US place the damage bill between $3.7bn and $5.5bn. Catastrophe modeling firm AIR Worldwide has reported the death toll from the events of April 25–April 28 is currently estimated at 354 across seven states. It is the second deadliest ...
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Online onlyThe market has changed, says Hiscox
Recent natural catastrophes have changed the reinsurance market, according to Hiscox.In its interim management statement, the (re)insurer said the first quarter began with rate reductions in reinsurance lines. But following catastrophe losses, reinsurance rates have returned to 2010 levels with increases in some areas, especially in the Asia Pacific. ...
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Online onlyHardy sparks interest with energy hire
Specialist insurer Hardy Underwriting has appointed Paul Dawson as senior underwriter.Dawson, formerly of Beazley, will work solely on Hardy’s energy portfolio. Hardy’s chief executive, Barbara Merry said: “We are delighted that Paul will be joining Hardy, not only because of his demonstrable record in the energy sector, but also because ...
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Online onlyHannover Re aims to increase Asia-Pac capacity
Hannover Re is aiming to increase its capacity in Australia in 2011, despite recent large losses in the area.Ulrich Wallin, chief executive of the German reinsurer said in a media briefing: “As far as our own policies are concerned, following all the losses, we intend to expand our capacity in ...
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PartnerRe $807m Q1 loss "significant"
Partner Re‘s first quarter results have been hit by a net loss of $807m which was “significantly in excess” of expectations. The Bermuda-based reinsurer recorded an operating loss of $735.6m for the first quarter of 2011. This compares to an operating loss of $50.4m for the first quarter of 2010.PartnerRe ...
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Online onlyGreenlight Re in management reshuffle
Cayman Islands-based reinsurer Greenlight Re has announced a management reshuffle.Bart Hedges will succeed Len Goldberg as CEO, following Goldberg's upcoming departure on 15 August. Goldberg will remain on the board of Greenlight Re and Greenlight Reinsurance Ireland.Hedges has been with the company since January 2006 and is currently president and ...
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Online onlySouthern US hit by record tornadoes
Widespread destruction across Mississippi and Alabama
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