The Federal Emergency Management Agency has expanded its wildfires disaster declaration area for Texas to include 119 counties. Gov. Rick Perry announced that FEMA has granted the state’s request to increase the original 45 counties eligible to seek disaster help. …
French reinsurer SCOR Group has estimated its losses from the floods in Thailand at €140 million [$185 million] net of retrocession and before tax. SCOR described the floods as a “major natural catastrophe, which have taken the lives of more …
The Aon Benfield Analytics’ Market Analysis team has published the latest edition of its Aon Benfield Aggregate (ABA) report, which assesses the financial performance of 28 of the world’s leading reinsurers in the first nine months of 2011, and examines …
Insurers are bracing themselves for claims in excess of $10 billion after floods in Thailand disabled major foreign-owned manufacturing operations there, adding to an already record-breaking natural catastrophe bill this year. Analysts and industry executives say it is too soon …
A unit from the Tokyo Metropolitan Police Department’s organized crime division has joined an investigation into an accounting scam at Japan’s disgraced Olympus Corp, a source familiar with the matter said on Friday, in a sign that the scandal could …
Catastrophe modeling firm AIR Worldwide has issued a report on the heavy rains, which caused widespread flooding in France and Italy during the first week of November. The storms were caused by a “low pressure system that developed over the …
Japan’s Olympus admitted on Tuesday it had hidden losses on securities investments dating back to the 1980s, succumbing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt. The …
An article on the Lloyd’s website takes a look at the “insurance and reinsurance specialists,” who “converge in Baden-Baden to begin their ‘renewal season’ discussions in earnest and in preparation for January 1, when deals between primary insurers and their …
Canadian insurers are looking at a bleak quarter of financial results due to a sharp drop in stock markets and bond yields, and analysts are staying cautious on the stocks even at rock-bottom valuations. Sun Life Financial , Canada’s No. …
Thailand raced on Tuesday to build floodwalls on the outskirts of Bangkok to prevent the worst floods in half a century from inundating parts of the capital later this week when water flowing from the north reaches the low-lying city. …
