April 30, 2010
The Bermuda-based Everest Re Group reported a net loss of $22.7 million, or $0.38 per common share, for the first quarter 2010, compared to net income of $108.6 million, or $1.76 per diluted common share, for the first quarter of …
April 30, 2010
Bermuda-based Aspen Insurance Holdings Limited reported a net profit after tax for the first quarter of 2010 of $18.3 million and operating earnings of $0.01 per diluted ordinary share, compared to a net profit after tax of $91.4 million, and …
April 29, 2010
Bermuda-based Montpelier Re Holdings reported net income of $9.9 million ($0.13 per share) for the first quarter of 2010, and an operating loss of $23 million (-$0.31 per share). The reinsurer posted a $94 million loss, net of reinstatement premiums, …
April 28, 2010
Aon Benfield announced that it is utilizing its “groundbreaking FAConnect placement platform to respond to client demand for expanded Chile earthquake capacity.” The system opens the way for Aon’s clients to access up to $ 50 million in coverage for …
April 26, 2010
Zurich Financial Services announced that, based on preliminary estimates, it expects aggregate claims payments related to the earthquake in Chile of approximately $200 million before tax. Zurich added that the estimate is “net of reinsurance recoverable and includes reinsurance reinstatement …
April 23, 2010
Despite a sizable increase in catastrophe claims, New Jersey-based insurer Chubb saw first quarter profits climb 36 percent to $463 million, up from $341 million in the year-ago quarter. The impact of catastrophe claims for the quarter, which includes the …
April 14, 2010
Catastrophe bond issuance conditions saw sustained improvement in the first quarter of 2010, reflecting the increase in prominence of the insurance linked securities (ILS) asset class. Despite the continued improvement in market conditions, however, catastrophe bond issuance relative to the …
April 6, 2010
Damage estimates from Sunday’s 7.2 magnitude earthquake in Mexico, just south of California, are not expected to exceed $1 billion, and insured losses should not exceed $300 million, according to risk modeling firm EQECAT. Sunday’s quake struck about 19 miles …
March 31, 2010
Haiti is a place where Willis Group Holdings plc, the global insurance broker, does little or no business. Among its 17,000 employees worldwide, the firm says only one was known to come from Haiti. But still, the company’s employees responded …
March 23, 2010
The Bermuda-based Argo Group International Holdings announced that it expects its initial loss estimate from first quarter 2010 catastrophe events that have occurred to date will be $25 to $35 million, net of reinstatement premium and tax benefits. Argo said …