RenaissanceRe has reported a net loss of $92 million for 2011, in comparison with net income of $702.6 million for the previous year.
A prolonged soft market, at the weakest phase in its business cycle, has made adequate pricing extremely difficult to obtain, according to Axis Capital’s president and chief executive, John Charman.
Global energy firms face a seismic change in the risks they face, according to a report by broker Marsh.
PartnerRe has reported a net loss of $520.3 million for 2011, in comparison with a net profit of $852.6 million in 2010.
Catastrophe rates have increased by an average of 15.9 percent at the January renewals, for Amlin's Bermuda and London businesses.
Bermuda reinsurer Validus has had its financial strength rating upgraded from A- to A by rating agency AM Best.
Rating agency AM Best has said that the US property catastrophe industry has deteriorated sharply during 2011, suffering its largest underwriting loss since 2002.
A market review by broker Willis has found a 30 percent withdrawal in capacity from the mining insurance market since the beginning of 2011.
An equity report by S&P Capital IQ has found that the European insurance sector is ‘well placed to perform in 2012’.
Reinsurers who previously bought Industry Loss Warranties (ILWs) have decided to be sellers of the instrument in anticipation of a potential increase in demand for alternative covers from insurers and other reinsurers.