A.M. Best Co. announced rating actions on both New Zealand’s AMI Insurance Limited, or the old AMI, and AMI Insurance (Operations) Limited, or the new AMI, following a substantial restructuring of the company in the wake of the earthquakes which …
Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer points …
The business of selling earthquake insurance to homeowners may have just gotten a bit easier. The California Earthquake Authority has launched its annual “Marketing Value Program,” in which the quasi-private earthquake insurer encourages agents to sign up to receive at …
Bermuda-based AXIS Capital Holdings Limited announced that the net financial impact of the severe flooding in Thailand on the Company’s fourth quarter results is expected to be $48 million – net of reinsurance, taxes and reinstatement premiums. AXIS also updated …
Swiss Re’s new report – “Lessons from recent major earthquakes,” focuses on the most recent series of devastating quakes, which have caused extensive loss of life and injuries, along with widespread property damage, over the past two years. The report …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has issued its “Annual Global Climate and Catastrophe Report,” which aggregates and analyses the natural disaster perils that occurred worldwide during 2011, which concludes that the impact of …
The Insurance Australia Group has advised that its Australia Direct and CGU businesses have, “received approximately 20,000 claims following the hailstorms and related severe weather which occurred in Victoria around Christmas Day. The majority of claims relate to vehicle damage …
Reinsurance broker Guy Carpenter has examined the past year’s natural catastrophes, which it describes as “an unusually eventful year for the (re)insurance sector.” In addition to the ongoing financial crisis, which has produced recessions, or near recessions, in developed countries, …
Willis Capital Markets & Advisory (WCMA), part of Willis Group Holdings, announced it has structured and placed a $200 million catastrophe bond transaction for the California State Compensation Insurance Fund. The Golden State Re Ltd. transaction is the first cat …
At least five small earthquakes were recorded in central Oklahoma over the long Thanksgiving weekend. The U.S. Geological Survey says a 2.4 magnitude tremor was recorded at 6:55 a.m. on Nov. 26 about five miles south of Sparks in Lincoln …
