Warren Buffett's annual letter to shareholders is invariably a treat, and this year's missive did not disappoint. The Sage of Omaha claimed that Berkshire Hathaway could survive a $250bn industry loss from a mega catastrophe and still be able to capitalise upon underwriting opportunities in its aftermath.
Underwriters in the power and utilities (re)insurance markets are bracing themselves for what could be some of the biggest claims of the year as a result of two major incidents at Colombian power plants that are threatening the country's supply of electricity, Inside FAC can reveal.
The beleaguered mining (re)insurance market needs to be overhauled if the product is to work in the long-term for underwriters, according to a Lloyd's property market veteran.
The product recall market looks set to escape a potentially significant exposure to US confectionery giant Mars after an international recall of chocolate bars was announced last month, Inside FAC understands.
A series of major losses in the fourth quarter of 2015 has continued to impact (re)insurers' results, with many revealing significant Q4 losses and some firms experiencing a deterioration in full-year results.
Industry cat loss aggregator Perils has announced its second loss estimate for the floods stemming from Storm Desmond, reducing its prediction from £717mn ($1bn) to £662mn.
Heritage Insurance Holdings has disclosed a difficult first quarter, including five tornado events and a severe rain event.
Mining company Samarco will pay the Brazilian government 20bn reais ($5bn) over 15 years as part of a settlement in the lawsuit sparked by the bursting of a tailings dam last year.
Berkshire Hathaway could survive a $250bn industry loss from a mega catastrophe and still be able to capitalise upon underwriting opportunities in its aftermath, CEO Warren Buffett has claimed in his annual letter to shareholders.
Munich Re has revised its total insured natural catastrophe loss estimate for 2015 to around $30bn, up from $27bn in its preliminary report.
JLT has estimated that revenue from its US specialty operation will double in 2016, on the back of a similar net investment in the division to that made during 2015.
Hiscox has reported a 12.2 percent decline in marine and energy business for full-year 2015, due to what it described as "challenging trading conditions" in the sector.
XL Catlin is understood to have ended its involvement in Marsh's energy facility. Sources said the carrier had a substantial share of Marsh's energy book across both upstream and downstream risks, believed to be in excess of 5 percent.
Conor Finn, Property Direct & Facultative Manager, Antares
Every company with physical assets also has a number of liabilities, such as those to its employees, which end up in the casualty market. So we're talking about a true multi-class product.
Germany has never stood out as a particularly troublesome market for fac writers, but expected claims from established brands are forcing a re-evaluation, as Inside FAC discovers
With environmental liability exposures spreading beyond the 'traditional' polluters, gaps in general liability policies are driving interest in standalone EIL covers, finds Inside FAC
In our new look people moves section, the first passengers to arrive at the direct and facultative (D&F) terminal are professional liability specialists Anne Marie Davine and Richard May, who are leaving Marsh to join Integro, where they will place cover for law firms.
The US product liability market is undoubtedly on red alert at present as two filings hit the courts - and others threaten to follow - in relation to a number of brands of pre-grated Parmesan cheese.