chile earthquake

Insurers Ready for Above-Average Hurricane Season

Posted on April 08th, 2010 in Aon, AonCorp, AonCorporation, catastrophe insurance, chile earthquake, Colorado State University, hurricane, Hurricane season, India Shares, insurance, insurance companies, Reinsurance, reinsurance industry

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All we can do is wait for Alex.

Hurricane season start June 1, 2010, with Alex chosen as the first name, and it’s expected to be above average. The Colorado State University forecast released on Wednesday predicts 15 named storms in the Atlantic basin, due partly to record warm water. Eight of them are expected to reach hurricane status, with sustained winds of 74 mph, and four are forecasted to become Category 3, 4 or 5 storms, with sustained winds of 111 mph. Typically, there are only 10 named storms, with six becoming hurricanes (two of them major), based on data going back to 1950.

William Gray, a member of the CSU Tropical Meteorology Project, told USA Today, “The probability of a major hurricane making landfall along the U.S. coastline is 69%, compared with the last-century average of 52%.”

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Insurers Ready for Above-Average Hurricane Season originally appeared on BloggingStocks on Thu, 08 Apr 2010 15:40:00 EST. Please see our terms for use of feeds.

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Q1 Catastrophes May Hit Earnings, Won’t Change Market

Posted on April 01st, 2010 in chile earthquake, earthquake, earthquake insurance, earthquakes, India Shares, insurance, insurance companies, insurance industry, inthenews, marsh and mclennan, MMC, Reinsurance, reinsurance industry, Willis

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The first quarter of 2010 will probably go down in history as the worst ever for catastrophe losses.

According to global reinsurance broker Willis Re (WSH), the insurance industry recorded $16 billion in insured losses, from the Chile earthquake and Windstorm Xynthia in Europe, but the largest losses occurred in smaller markets, where it premium volumes aren’t as large. Since the third and fourth quarters tend to be the most loss-prone of the year, a quarter that is normally quiet could set the stage for outsized losses.

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Q1 Catastrophes May Hit Earnings, Won’t Change Market originally appeared on BloggingStocks on Thu, 01 Apr 2010 14:20:00 EST. Please see our terms for use of feeds.

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Reinsurance Rates Fall Around the World

Posted on April 01st, 2010 in catastrophe, catastrophe insurance, catastrophes, chile earthquake, earthquake, earthquake insurance, earthquakes, India Shares, insurance, insurance industry, inthenews, marsh and mclennan, MMC, Reinsurance, reinsurance industry

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The first quarter catastrophes weren’t enough to push property-catastrophe reinsurance rates lower. Even though the first quarter was a busy one for catastrophe losses, particularly for global reinsurers, they weren’t sufficient to change the market. As a result, the four regions renewing at April 1, 2010 — the United States, Japan, Latin America and South Korea — ranged from soft to controlled, according to the latest from Guy Carpenter, the reinsurance arm of Marsh & McLennan (MMC). This comes as no surprise, as indications throughout the run-up to the renewal pointed to an orderly process in which there would be enough capital to support the market’s needs.

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Reinsurance Rates Fall Around the World originally appeared on BloggingStocks on Thu, 01 Apr 2010 12:30:00 EST. Please see our terms for use of feeds.

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Reinsurers Returning Capital Despite Catastrophes

Posted on March 28th, 2010 in axis, catastrophe, catastrophe insurance, catastrophes, catastrophic insurance, chile earthquake, endurance, India Shares, inthenews, mco, moody, Moodys, partnerre, pre, Reinsurance, reinsurance industry, RenaissanceRE Holdings, renaissancere rnr, RNR

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With borrowing costs at their lowest levels since 2004, reinsurers are loading up on corporate debt in part to fund stock buybacks. The latest tally, according to Bloomberg News, is $1.34 billion in additional borrowing, with Endurance Specialty Holdings (ENH), a Bermuda-based company, recently selling $85 million in bonds. Other recent transactions include Axis Capital Holdings (AXS) and PartnerRe (PRE) each issuing $500 million in bonds and RenaissanceRe (RNR) adding $250 million to the count.

Paul Newsome, an analyst at Sandler O’Neill & Partners, told Bloomberg News, “If you’re a company who can raise debt at 5, 6 percent, and your stock is trading below book value, there’s an arbitrage there.” He added, “The market is essentially saying, ‘We want you to put on debt, and we want you to get rid of your equity.’”

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Reinsurers Returning Capital Despite Catastrophes originally appeared on BloggingStocks on Sun, 28 Mar 2010 11:40:00 EST. Please see our terms for use of feeds.

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