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Bermuda

  • Everest Re estimates Chile, Xynthia loss 11 March 2010

    Everest Re has estimated its preliminary loss owing to the earthquake in Chile at about $225m.

  • PartnerRe unit sells $500m debt 11 March 2010

    A unit of PartnerRe has raised $500m through a 10-year note sale. PartnerRe Finance has issued the senior notes, maturing June 1, 2020.

  • ABIR raises opposition to homeowners bill 09 March 2010

    The Association of Bermuda Insurers and Reinsurers today filed its opposition to a house bill which would replace private sector risk bearing capital with government reinsurance and government guarantees of state debt.

  • Interview: Cash confident of Endurance growth 09 March 2010

    Endurance's new CEO will be looking to continue the work done under eight years of Ken LeStrange's leadership but won't be afraid to make big changes if necessary, he tells Reactions in an exclusive interview.

Europe

  • Fortis reports Eu1.2bn 09 profit and new name 10 March 2010

    Fortis has announced a group net profit of Eu1.2bn ($1.6bn) compared with a net loss of Eu28.0bn in 2008. .

  • Moody’s comments on Xynthia’s France impact 10 March 2010

    Windstorm Xynthia, which caused serious damage in Western Europe at the end of February, will present a substantial, though manageable, cost for the French insurance industry according to Moody's Investors Service.

  • Munich Re reports Eu2.56bn profit in 2009 10 March 2010

    Munich Re has reported a profit of Eu2.56bn ($3.5bn) in 2009 compared with Eu1.58bn in 2008. Gross premiums written rose by 9.5% to Eu41.4bn, from Eu37.8bn in 2008.

Lloyd’s & London Market

Asia & Australasia

North America

Middle East & Africa

  • Santam records rise in 2009 profit 04 March 2010

    South African property/casualty insurer, Santam, has booked an increase in profit for 2009, because of better returns on its investment portfolio.

  • Axa Cooperative Insurance gets Saudi licence 02 March 2010

    Axa Cooperative Insurance has secured a licence from the Saudi Arabian Monetary Agency to start its business in the Kingdom of Saudi Arabia, Trading Markets reports.

  • Allianz Takaful eyes sukuk issue 18 February 2010

    Allianz Takaful is negotiating with a regional Islamic institution, to offer a sukuk bond, Reuters reports.

  • GIC sets up natural disaster pool 18 February 2010

    General Insurance Corporation of India (GIC) is setting up a natural catastrophe pool for insurance and reinsurance companies.

Latin America

  • Mexico underinsured despite large quakes 11 March 2010

    Mexico has little catastrophe insurance coverage, despite a long history of severe earthquakes, The Wall Street Journal reports.

  • Mapfre aims for Eu20bn of premiums in 2010 09 March 2010

    Spanish insurance group Mapfre recorded a net result of Eu937m ($1.3bn) in 2009, a 2.9% increase over 2008.

  • Reinsurers to take majority of Chile losses 08 March 2010

    Rating agency Moody’s believes reinsurers will shoulder the majority of insured losses from the Chilean earthquake because of the large amount of reinsurance protection purchased in Chile and the size of the catastrophe

  • Up to $320m of Chile claims for PartnerRe 08 March 2010

    Bermudian reinsurance company PartnerRe expects between $220m and $320m of pre-tax losses from the magnitude 8.8 earthquake that hit Chile on February 27.

Poll

Do you believe efforts to set up a New York Insurance Exchange by the state's insurance department will succeed?

Yes, and it is a good idea
33%
Yes, but it is a bad idea
3%
No, but it is a good idea
43%
No, and it is a bad idea
17%
Not sure
3%