Insurer Hartford Financial Services Group Inc said on Tuesday it expects pretax losses of $370 million from Superstorm Sandy, which ravaged New York and New Jersey in October.The Hartford said 60 percent of the losses were in commercial segments and …
American International Group Inc. announced that its preliminary estimate of the company’s after-tax losses related to Superstorm Sandy — net of reinsurance — will total approximately $1.3 billion.The estimate reflects a pre-tax loss estimate, net of reinsurance, totaling some $2.0 …
The Hartford Financial Services Group CEO Liam McGee said his company’s gross losses from Superstorm Sandy may hit the reinsurance deductible of $350 million. Speaking at the Goldman Sachs Financial Services Conference in New York on Wednesday, McGee also remarked …
The Fire Department of the City of New York (FDNY) responded to about 37 percent more fires last month.Officials blame the spike on the aftermath of Superstorm Sandy.
A leading New Jersey lawmaker is planning to introduce a bill that would cap how much a public adjuster can charge a homeowner for insurance claim assistance for certain emergencies.The state’s Assembly Speaker Pro Tempore Jerry Green (D-Union/Middlesex/Somerset) announced his …
A recent report, “Reinsurance Industry Leaders Discuss Lessons Learned From Hurricane Sandy,” published Nov. 29, 2012, on RatingsDirect, Standard & Poor’s Ratings Services, notes that “reinsurers had three very good quarters until Superstorm Sandy hit the U.S. East Coast on …
Swiss Re announced that its estimates of claims from Hurricane Sandy are around $900 million, net of retrocession and before tax. The bulletin warned, however, that “this estimate is subject to a higher than usual degree of uncertainty and may …
The impact of Hurricane Sandy on the catastrophe bond market is likely to be muted based on current estimates, with little impact on new pricing, according to Willis Capital Markets & Advisory (WCMA), part of global insurance broker, Willis Group …
Swiss Re reported net income of $2.2 billion in the third quarter of 2012, compared to $1.3 billion in the prior-year period, and a return on equity of 28 percent, “driven by continued strong performance from P&C Reinsurance and a …
Hannover Re does not expect to be blown off course by damage from Hurricane Sandy in the United States, the German reinsurer said on Tuesday, as it beat quarterly profit forecasts and lifted expectations for this year and next. Shares …
