Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
XL Hit By Hurricanes; Posts $22.5 Million Q3 Net
Nov 2 2004 // Bermuda-based XL Capital Ltd reported net income available to ordinary shareholders for the quarter ended Sept. 30, 2004, of $22.5 million, or 16 cents per ordinary share, compared with $99.0 million, or 71 cents per...
Ill. Gov Notes More Than $1 Million in Funding to Help Utica, Other Communities Rebuild from Tornadoes
Nov 1 2004 // In order to expedite Utica’s long-term economic recovery plans, Illinois Gov. Rod Blagojevich announced more than $1 million in funding recently that will help rebuild and enhance this and other communities...
Hurricanes Hit Argonaut Group’s Bottom Line
Oct 29 2004 // San Antonio, Texas-based Argonaut Group Inc. reported third quarter net income dropped by 62 percent, largely as a result of the four hurricanes that hit Florida in late summer. Gross written premiums for third quarter...
RMS Expands Underwriting Capabilities, Global Suite for Catastrophe Peril Models
Oct 29 2004 // Risk Management Solutions (RMS) announced the launch of RiskLink and RiskBrowser 4.5, the latest versions of its catastrophe modeling systems. The upgraded systems include new underwriting capabilities, expanded...
RenRe Reports Q3 Operating Loss of $372 Million; Increases Hurricane Loss Estimates
Oct 28 2004 // Bermuda’s RenaissanceRe Holdings Ltd. reported a net operating loss attributable to common shareholders of $372 million for the third quarter of 2004, versus net operating income available to common shareholders of...
ACE Reports $3 Million Q3 Net Loss
Oct 28 2004 // Bermuda’s ACE Limited reported a net loss for the third quarter ended Sept. 30, 2004 of $3 million or $(0.05) per common share after payment of preferred dividends, compared with net income of $355 million or $1.22...
St. Paul Travelers Looks to Bring Top Line in Commercial Up as it Unveils Q3 Report
Oct 28 2004 // The St. Paul Travelers Cos. Inc. (NYSE:STA) has reported net income of $340 million for the third quarter ended Sept. 30, 2004, or $0.51 per basic share and $0.50 per diluted share, compared to $426 million, or $0.98 per...
PCI Urges Measured Legislative Response During Upcoming Special Fla. Session
Oct 28 2004 // The best way for the Florida legislature to respond to this year’s devastating hurricane season is to take a thoughtful and rational approach when considering measures to improve the current well-designed strategy...
Fla. Gov. Bush Reveals More Reimbursement Details
Oct 27 2004 // After Hurricane Frances ripped open the roof of Lisa and Glenn Perrone’s St. Lucie County home, an insurance adjuster told the Perrones they were on the hook for an $8,315 deductible. And after Hurricane Jeanne...
Converium Reports $116.3 Million Q3 Loss
Oct 26 2004 // Embattled Swiss reinsurer Converium Holdings AG has reported a $116.3 million third quarter loss in financial statements released today. The company said the results reflect “the continuing satisfactory underlying...
Allmerica Reports Big Jump in 3d Quarter Results
Oct 26 2004 // Allmerica Financial Corporation (NYSE: AFC) in Worcester, Mass. has reported third quarter net income of $17.7 million, or $0.33 per share, compared to net income of $11.4 million, or $0.21 per share, in the third quarter...
ISO: Insurers Will Pay Estimated $3.245 Billion on Hurricane Jeanne Claims
Oct 26 2004 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.245 billion for insured property losses from Hurricane Jeanne, according to preliminary estimates by ISO’s Property Claim...
Chubb Sees Growth in Q3
Oct 26 2004 // The Chubb Corporation (NYSE: CB) on Tuesday reported that net income in the third quarter of 2004 was $364.0 million or $1.88 per share, compared to $259.8 million ($1.37 per share) in the third quarter of 2003. Operating...
Shelby Upsets Insurers’ Plan to Delay TRIA’s Sunset
Oct 25 2004 // Regardless of whether George W. Bush is re-elected or John Kerry moves into the White House, the property/casualty insurance industry appears to have a good chance of getting its wishes when it comes to extending the...
LOSSES FROM 4 FLA. HURRICANES WILL EXCEED ANDREW’S RECORD:
Oct 25 2004 // Insurance claim payments to victims of the four Florida hurricanes to date will exceed $22 billion, surpassing the insurance payout from Hurricane Andrew, the costliest natural disaster in history, according to the...
Uncertainties Worry Conventioneers
Oct 25 2004 // Clear skies prevailed over Florida during October’s ASCnet and Big “I” conferences in Orlando, but an underlying feeling of anticipation prevailed because the hurricane season lasts until the end of...
Dispute Mediation Program Begun for Hurricane Victims
Oct 25 2004 // Disgruntled Florida storm victims dissatisfied with their insurers can expedite settlements and keep the disputes out of court with mediation—at the insurance company’s expense. About two million Floridians are...
HURRICANE IVAN LOSSES IN ALABAMA $279M TO $325M:
Oct 25 2004 // Alabama-based The Alfa Insurance Group and Alfa Corporation have commented on the effects of Hurricane Ivan. “Hurricane Ivan had a significant impact on certain counties in Alabama and created a large number of...
GOV. WANTS HURRICANE REPORT:
Oct 25 2004 // Texas Gov. Rick Perry has directed state Homeland Security Director Steve McCraw to assess Texas’ ability to handle large-scale evacuations in the event of a catastrophic hurricane, the governor’s office...
BEST AFFIRMS RATING OF CALIFORNIA EARTHQUAKE AUTHORITY:
Oct 25 2004 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of California Earthquake Authority (CEA). The rating outlook is stable. The rating of CEA reflects its distinctive structure, which has been...
