A strong earthquake hit off the eastern coast of central Japan on Sunday, rattling buildings across a broad swath of the country, including the crowded Tokyo capital. There were no immediate reports of damage or casualties, and the government said …
Bermuda-based RenaissanceRe Holdings announced that based on its initial assessment, the “impact of the Chilean earthquake and windstorm Xynthia on its financial results (net of reinstatement premiums, retrocessional recoveries and non-controlling interest) will be significant and could be material.” The …
Chile’s mining and refinery sectors escaped damage Thursday as a series of powerful aftershocks rocked the world’s largest copper producer in the wake of one of the biggest earthquakes ever recorded. Chile’s Codelco and global miner Anglo American said all …
London-based specialty insurer Hiscox, which launched a significantly expanded U.S. presence in 2006, saw gross profits reach record levels ($481 million) in 2009. In this exclusive interview with Insurance Journal, Hiscox Chief Underwriting Officer Rob Childs discusses the profitability for …
The Bermuda-based Everest Re Group announced that its preliminary loss estimate for exposures relating to the earthquake in Chile is $225 million. It also estimated its loss for expected claims from European Windstorm Xynthia to be approximately $25 million. “Both …
Lloyd’s Chairman, Lord Levene, visited Japan and South Korea last week where he opened the new Lloyd’s Japan office and hosted an event with Korean Re, titled – Lloyd’s – A Working Partnership. Lloyd’s bulletin pointed out that “Japan is …
California Earthquake Authority CEO Glenn Pomeroy testified before the U.S. House of Representatives Subcommittee on Housing and Community Opportunity and Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, in support of H.R. 2555 (specifically Title II), a bill that …
Sebastian Pinera’s inauguration as Chile’s new president was accompanied by a blunt reminder of the peril the country faces from earthquakes as two large aftershocks struck just before the ceremony According to a preliminary analysis from Risk Management Solutions a …
The Natural Catastrophe Insurance Program (NCIP), available at www.CatCoverage.com, says it is providing an online alternative to the National Flood Insurance Program for agents, brokers and property owners. This Web-based program offers primary layer insurance for the perils of landslides, …
Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates are “net of the benefits of retrocession.” …
