News relating to the Bermuda and international insurance and reinsurance industry.
Much of the loss stemming from the Malaysia Airlines flight MH-17 crash is to be absorbed by the Lloyd’s market as well as some global re/insurers, according to AM Best.
Bond insurer Municipal Assurance Corp (MAC), part of the Assured Guaranty group, has been granted a licence to write financial guaranty insurance in the State of California.
Aon Benfield’s revenues declined slightly in the second quarter of 2014 as a result of what it called an unfavourable market impact on treaty business and a decline in its facultative placements.
Aspen has reported strong results for the second quarter of 2014 as it defends its position from Endurance’s advances in the high profile M&A battle.
Lancashire Holdings’ profits took a dive in the first half of 2014, a trend for which its CEO blames additional capital flowing into the industry resulting in intense competition.
Allied World Assurance Company saw a 19 percent shrink in its reinsurance business in the second quarter of 2014 due to lower premiums across most business lines.
Everest Re’s reinsurance business grew by 16 percent growth in the second quarter of 2014 driven by US property and specialty lines, despite its CEO cautioning on tough market conditions.
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has issued its mid-year Global Catastrophe Recap report, aggregating the key global natural disaster perils data for the first half of 2014.
ACE achieved strong second quarter results, increasing net premiums written, its underwriting income and driving down its combined ratio.
According to PCS’ latest catastrophe market report, appropriately entitled Continued calm, the firm has found that US catastrophe losses have been at their lowest level since 2010.