Caribbean News

Aspen Insurance Acquires Puerto Rico Marine MGA, Blue Waters Insurers

Bermuda-based Aspen Insurance, the insurance segment of Aspen Insurance Holdings, announced it has acquired Blue Waters Insurers Corp. Blue Waters, which is headquartered in San Juan, Puerto Rico, is a specialist marine managing general agency. The company was founded in …

A.M. Best Report: Caribbean General Insurers Still Profitable Despite Challenges

The Caribbean general insurance market remains profitable, albeit challenging, for participants, according to an A.M. Best special report titled “Caribbean-based General Insurers: What Lies Ahead?” The report says that the region is susceptible to major storm damage, earthquakes and flooding, …

Allied World Syndicate to Offer Insurance, Facultative Cover in Latin America

Allied World’s Lloyd’s Syndicate 2232 has received approval to commence underwriting direct insurance and facultative reinsurance business for Latin America and the Caribbean. Paul Manguson, senior vice president, underwriting, and Paul Obolensky, senior vice president, business development, will build out …

CCRIF Partners with Seismic Research Center for Quake, Volcano Risk

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Seismic Research Centre (SRC) of The University of the West Indies have entered into a partnership to enhance the Accelerometric Network in the Eastern Caribbean and Jamaica in order to strengthen …

CCRIF Reports Minimal Damage; No Payouts Due from TS Isaac

The Caribbean Catastrophe Risk Insurance Facility has reported that, while some of its members were impacted by tropical storm Isaac, most of the damage was minimal. “Dominica, Haiti and the Bahamas were the CCRIF countries affected by Isaac,” said the …

TS Isaac Nears Haiti with Heavy Rains; Remains on Course for Eastern Florida

In its bulletin issued at 5:00 a.m. EDT the national Hurricane Center in Miami described tropical storm Isaac as “poorly organized.” As a result its most serious threat is not from the wind speed, around 45 mph, 75 km/h, but …

TS Isaac Forms in Atlantic; Strengthening Expected; Could Hit Florida: NHC

For the past week the National Hurricane Center in Miami has been monitoring a low pressure system that formed off the Cape Verde Islands. Late yesterday it coalesced into a tropical storm, which has been given the name Isaac. As …

TS Ernesto Strengthens; Expected to Impact Belize, Mexico; AIR Analysis

Tropical Storm Ernesto is gaining strength as it moves west-northwest at around 13 mph, 20 km/h, according to the latest bulletin – 5:00 a.m. EDT – from the National Hurricane Center in Miami. As it moves along the forecast track …

UPDATE: TS Ernesto Crossing Caribbean; AIR Analysis

Tropical Storm Ernesto is continuing along the track forecast by the National Hurricane Center in Miami, as it crosses the southern Caribbean, heading towards Mexico’s Yucatan Peninsula. The most recent NHC bulletin said maximum sustained winds were 50 mph, 85 …

NHC Tracking TS Ernesto in Caribbean

The National Hurricane Center in Miami is currently tracking Tropical Storm Ernesto, as it progresses further into the Caribbean Sea. According to the NHC’s 8:00 A.M. AST bulletin, Ernesto was about 40 miles, 65 km, west southwest of the island …