Lloyd's of London News – Page 112
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Flood estimates in the West to hit £100,000
Loss adjuster expects claims to reach Yorkshire levels next week
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Fitch focuses on Islamic insurance
Companies based on Islamic principles offer challenges as well as opportunities, says ratings agency
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Summer floods costs estimated at £3.25 bn
Off-flood plain losses outstrip river and coastal floodings, say experts
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Online onlyUK property sector set for big loss, says S&P
Standard & Poor's predicts that the current severe weather events will probably leave the property sector's overall underwriting result in the red for the year.
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Beazley announces record profits
Beazley Group doubles profits in first six months of 2007
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Thousands of property owners playing ‘flood roulette’
Confused.com MD urges property owners in flood prone areas to ensure adequate protection
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Capita forms Lloyd’s syndicate to strengthen market position
Capita has made an aggress-ive move to strengthen its position in the Lloyd’s and London markets with the formation of a syndicate.The Lloyd’s syndicate, backed by CarVal Investors, has been established by CMGL Syndicate Management, a Capita Group subsidiary company.Syndicate 5500 will write the reinsurance to close (RITC) of Duncanson ...
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Ariel Re acquires Atrium for £193m
Consolidation in the international insurance market is set to continue after Ariel Re became the latest major Bermudan reinsurer to take a stake in Lloyd’s.The reinsurer, which has $1bn of capital backing and is led by industry veteran Don Kramer, bought Lloyd’s managing agent, Atrium Underwriting, in a deal worth ...
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Insurers square up to government over plans to build more homes on flood plains
Government committed to three million new homes, with 30% on brownfield sites
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...as premium rates set to soar
Household insurance premiums could rise by between five and 10% at the end of 2007 as a result of in-creased catastrophe claims to hit UK insurers, according to Equity Red Star. Flooding in Yorkshire and southern regions of England, coupled with storms in January of this year, may force insurers ...
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...and reinsurers escape claims
Reinsurance companies are set to escape any major loss from the flooding, which has crippled parts of the UK in recent weeks.Experts said reinsurance programmes were likely to remain largely untouched due to high retentions of primary insurers and the “168-hour rule” included in many reinsurance programmes.The rule means that ...
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Flood claims bill could top £5bn
The total insurance claims from the floods that ravaged the UK in June and July could top £5bn, industry experts have predicted.While official estimates of the insured losses from both last month’s floods in Yorkshire and the flooding over the weekend, were more conservative at between £2bn and £3bn, industry ...
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Online onlyUK floods not as costly as repeat of 1947, says RMS
1947 flood would have resulted in insured losses of £4.5bn to £6bn if it reoccurred today
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Online onlyFitch says flood damage could exceed £3bn
But expects the flooding to have a limited rating impact on UK insurers
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No building on flood plains, urges ABI
Starling warns of impact on insurance availability if building in flood-prone areas continues
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Insurers bailing as fast as they can
Insurers pulling out 'all the stops', says ABI's Nick Starling
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Prism launch provides new modelling approach
Platform provides comparison to insurers capital positions
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Floods spark home insurance rush
Home insurance applications rise 300% in flood-hit areas
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NewsMotor insurers take £25m hit from flooding
Motor claims resulting from the recent flooding could reach as much as £25m, according to the ABI.Some have suggested that the event could act as a trigger for rate increases in the private motor market. But insurers, already reeling from a £1.5bn household bill, have played down the impact of ...
