Reinsurance
Hamburg Has Worst Flood in 37 Years as Storm Moves Eastward
Hamburg, Germany's biggest port, recorded its heaviest storm surge in 37 years as the low- pressure weather system Xaver swept through northern Germany, paralyzing air, rail and ship traffic. The ...
Sea-Level Rise Too Fast to Reverse Climate Change, Study Says
By the time climate change reduces crop yields or frequently floods New York City subways, it will be too late to avert damage without better forecasting tools, a panel of scientists said in a report ...
Study Reveals Cause of 2011 Tsunami; Other Areas at Risk
The devastating tsunami that struck Japan's Tohoku region in March 2011 was touched off by a submarine earthquake far more massive than anything geologists had expected in that zone. A team of ...Aon Benfield Ex-Executive Chilton Joins Gallagher to Start Reinsurance Brokerage
Grahame Chilton, who helped build Benfield Group Ltd. before selling it to Aon Plc in 2008, formed a partnership with Arthur J. Gallagher & Co. to start a reinsurance brokerage. The new business, ...
Hard Market Will Come; Question Is When, Swiss Re Says
In its latest sigma report forecasting profits and premium growth for insurers over the next two years, Swiss Re says the eventuality of a hard market is a given—it's just a matter of when. ...
Fitch Predicts Double-Digit Cuts in January U.S. Cat Re Prices
The quietest U.S. Atlantic hurricane season in decades will lead to a low double-digit fall in related catastrophe reinsurance pricing in the key 2014 renewals, Fitch Ratings says. Noting that the ...
Runoff Specialists No Longer Buyers of Last Resort in Insurer M&A
Runoff specialists are increasingly becoming visible acquirers of ongoing books of business as M&A activity heats up across the insurance industry, according to a consultant from Towers Watson. ...
Weak 2013 Atlantic Hurricane Season Draws to Close
The 2013 Atlantic hurricane season has delivered the fewest hurricanes since 1982, U.S. forecasters said Monday, despite their predictions in May that it would be a busier than normal year. ...