AIR Worldwide’s preliminary estimates of onshore wind losses for Windstorm Emma are between €750 million and €1.3 billion ($1.15 and $2 billion), significantly higher than the insured loss estimates released by RMS (See IJ web site – https://www.insurancejournal.com/news/international/2008/03/05/87951.htm). Damages in …
The founder of one of today’s most successful insurance companies went into the insurance business because he thought it would be easier than competing in the investment business. In 1967, when William R. Berkley was still at Harvard Business School, …
Standard & Poor’s Ratings Services has revised its outlook on U.K.-based Novae – Syndicate 2007 to positive from stable. S&P also affirmed its Lloyd’s Syndicate Assessment (LSA) of ‘2+’ (high dependency) on the syndicate. The revision reflects S& P’s “expectation …
Aon Corporation announced that it has reached an agreement “to acquire substantially all of Gallagher Re’s U.S. and U.K. reinsurance brokerage business. In addition, a team of industry professionals from Gallagher Re, based in the U.S. and U.K., will join …
San Diego-based Barney & Barney LLC named Jim O’Connell principal. He also will serve as director of development for programs, specialty insurance solutions. In that role, he is responsible for both regional and nationwide expansion of new and existing programs. …
Dublin-based Research and Markets has added “UK General Insurance Competitor Tracker Q4” to their offering. The research firm described the new study as providing “expert analysis and opinion on the strategic movements of leading competitors in the general insurance market.” …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that the Irish government has approved a $2.4 million contribution to the Caribbean risk pooling fund. “The contribution is the latest addition to the donor fund supporting the CCRIF, which was launched …
The Connecticut Insurance Department said it will hold a public hearing later this month on the proposed acquisition of PXRE Reinsurance Co. by U.K.-based Tawa. Tawa announced the plans to acquire the company from Bermuda-based Argo Group International Holdings Ltd. …
Standard & Poor’s Ratings Services has placed its ‘AA’ rating on BluePoint Re Ltd., its ‘AAA’ rating on Channel Reinsurance Ltd., and its ‘AAA’ rating on RAM Reinsurance Co. Ltd. on CreditWatch with negative implications. Ratings on the companies’ related …
Risk Management Solutions (RMS) announced the launch of “the first parametric index for assessing insured industry losses from windstorms in Europe.” The new model -” Paradex Europe Windstorm” – combines “wind speed measurements in specific locations with industry exposure data, …
