Brit Insurance, which is domiciled in the Netherlands and headquartered in London, announced the opening of a new Lloyd’s service company in Sydney, Australia. The bulletin noted that the new facility follows “the successful establishment of a representative office in …
According to a bulletin on its web site, the Insurance Council of Australia has released updated figures on “how the general industry has responded to the enormous task of assessing over 118,000 insurance claims received as a result of the …
After careful calculation Lloyd’s has announced its estimated net claims before tax from the earthquakes this year in Japan and New Zealand and the January 2011 floods in Australia. The current net estimates were given as follows: US$ 1.95 billion …
The first quarter of 2011 reminded the insurance industry of just how unpredictable natural catastrophes can be. Beazley plc, which is headquartered in Dublin, but whose main activities, are in the Lloyd’s market, and increasingly in the U.S., saw Q1 …
Specialist insurer Amlin plc has released initial estimates of the impact of the 2011 New Zealand earthquake, the Japanese earthquake and the 2011 Queensland floods. The bulletin described the 2011 New Zealand earthquake as a “major catastrophe with market loss …
Bermuda-based Platinum Underwriters Holdings has announced that it currently expects the 2011 Australian floods and Cyclone Yasi and the 2011 New Zealand earthquake will “have a net negative impact of approximately $25 million and $135 million, respectively, on the Company’s …
AXIS Capital Holdings Limited has issued a bulletin which estimates that the “total net impact of the New Zealand earthquake and loss events in Australia that have occurred to date in the first quarter of 2011 will be between $275-$315 …
Bermuda-based RenaissanceRe Holdings Ltd. announced its initial loss estimates for the 2011 Australian flooding as well as the February 2011 New Zealand earthquake. The Company said it currently expects the Australian flooding and the New Zealand earthquake will have a …
Bermuda-based Montpelier Re Holdings announced that its preliminary pretax net loss estimate from the February New Zealand earthquake will be around US$75 million, net of reinstatement premiums. The Company added that its figure “assumes a US$12 billion industry loss.” Montpelier …
In a recent bulletin the Insurance Council of Australia (ICA) said it “has welcomed the National Disaster Insurance Review announced by the Federal Government.” ICA CEO Rob Whelan said the National Disaster Insurance Review has the full support of the …
