The latest edition of the Aon Benfield Aggregate (ABA) report, which analyzes the financial position of the world’s leading reinsurers for the first half of 2012, concludes that “global reinsurer capital totaled a record $480 billion at June 30, 2012, …
Louisiana Citizens Property Insurance Corp. plans an average rate increase for wind-only policies of 58 percent, sparking an argument among top state officials on whether the increase is legal. The Advocate reports that the large increase follows a May 23 …
Scientists are predicting the disappearance of another vast ice shelf in Antarctica by the end of the century that will accelerate rising sea levels. The Filchner-Ronne Ice Shelf fringing the Weddell Sea on the eastern side of Antarctica has so …
A report from Willis Re in London points to 2011 activity as driving a 25 percent growth in Insurance Loss Warranties (ILWs) volume for 2012. The report estimates that the ILW market reached trading volumes of $6 billion last year, …
The Directors of the London-based Steamship Mutual P&I Club “recently reviewed the Club’s open policy years, as well as claims in earlier years, and considered the premium ratings required for the 2012 policy year,” said an announcement from the Club. …
Swiss Re reported more good news, following the ratings upgrade from Standard & Poor’s. The world’s second largest reinsurer posted $1.3 billion net income in the third quarter of 2011, compared to $600 million in Q3 2010, an 18 percent …
Spain’s MAPFRE has published its 7th annual survey of Europe’s non-life insurers, ranking them by gross premiums written. The survey found that “all the companies achieved an increase in premium revenues as well as excellent results, especially driven by their …
Property and casualty insurers craving respite from a long-running drop in prices are eyeing the start of the U.S. hurricane season next week in the hope that summer windstorms will finally turn the market. The June 1 to Nov. 30 …
The Bermuda-based Catlin Group’s interim statement for the first quarter of 2011, highlights a substantial 11 percent increase in gross premiums written to $$1.412 billion from $1.272 billion in Q1 2010. Net premiums earned also rose 11 percent to $882 …
Global food prices are likely to keep rising as production struggles to match demand and extreme weather events become more frequent, a climate-change advisor to the Australian government said on Wednesday. Ross Garnaut told an agricultural outlook conference that more …
