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Comment - Industry calm as Katrina hits.
(From Post Magazine)
Although many claim it is too early to put an accurate estimate on the insured losses associated with Hurricane Katrina, that has not stopped some rushing to put a provisional figure on them.
In the 'wait and see camp', Lloyd's said it was not possible to determine the extent of its exposure, while admitting there was "likely to be an impact"; however, others such as Munich Re said it alone could see a hit of EUR400m (GBP273m).
Away from individual companies, the risk modellers have taken an industrywide view of the potential impact, with Risk Management Solutions giving a preliminary estimate of $10bn-$25bn (GBP5.6bn-GBP14bn); while AIR Worldwide's margin for error is similarly broad, putting the loss at $12bn-$26bn.
If borne out at the top-end, this would put the insured loss on a par - when inflation is taken ...
- Munich Re stays ahead in good times and bad. (World Reinsurance Report)
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Jennings, John September 9, 1991 700+ words
...to these influences, Munich Re recorded a deficit in...Nierhaus, a member of Munich Re's board, there can...Of course, he noted, Munich Re was not the only reinsurer...of the 1988 account of Lloyd's, and the anticipated...
- Munich Re said it is acquiring MSP Underwriting.(Europe)(Munich Reinsurance...
- Magazine article from: Best's Review December 1, 2007 700+ words
MUNICH RE said it is acquiring MSP UNDERWRITING...Kingdom-based company that owns Lloyd's managing agency Beaufort...which manages the business of Lloyd's Syndicate 318. The German...euros range." MSP also owns Lloyd's service company Evergreen...
- Updates; Munich Re issues cat bond for windstorm risk.(World)(Willis Group...
- Magazine article from: Business Insurance November 28, 2005 700+ words
...Solutions of Newark, Calif., modeled the underlying risk, Munich Re said. Willis adds firms in Brazil, Peru Willis Group Holdings...from Hurricane Wilma. London-based Amlin, which operates Lloyd's of London syndicate 2001, said that despite this year...
- Updates; Investments boost Munich Re profits.(World)(Allianz A.G and Converium...
- Magazine article from: Business Insurance March 20, 2006 700+ words
...1.4 billion reserve boost in the second quarter of 2005. Munich Re said that its profit for 2005 was boosted by investment income...previously. Hiscox, which operates a multiline syndicate at Lloyd's of London, a U.K. insurance company and a Bermuda...
- Munich Re bolsters foothold in U.S. (purchases American Reinsurance Co.)
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Howard, Lisa S. August 19, 1996 700+ words
LONDON--Munich Re, the world's largest reinsurer...3.3 billion. Given the fact that Munich Re is paying over three times American...London-based insurance analysts said Munich Re paid an exorbitant price just to get...
- S&P: Munich Re Off Watch; 'AAA' Rtgs Afmd; Otlk Neg.
- Press release article from: Business Wire September 10, 2002 700+ words
...global reinsurer Munich Reinsurance Co. (Munich Re) and core subsidiaries from CreditWatch...placed on July 10, 2002, following Munich Re's announcement that reserves at American...amp; Poor's affirmed its ratings on Munich Re and core subsidiaries. The outlook is...
- Changing the guard; Munich Re.(A new boss at Munich Re)(Nikolaus von Bomhard)
- Magazine article from: The Economist (US) May 3, 2003 700+ words
...the world's largest insurers, and Munich Re, the world's biggest reinsurer. Both...Jurgen Schinzler, his counterpart at Munich Re since 1993, had said he would go at...probably connected to the state into which Munich Re has fallen. Last year the reinsurer...
- S&P downgrades Munich Re.
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Howard, Lisa S. September 1, 2003 700+ words
...hit a string of reinsurers, downgraded Munich Re to "A-plus" from "double A-minus...P downgrade, last week, followed Munich Re's half-yearly results, when the...Zurich, Switzerland's Swiss Re. But, Munich Re said the S&P downgrade was...