Insight and Intelligence on the Global Facultative Markets

19 May 2012

New Zealand earthquake losses dent Q3 results

22 November 2010

Despite a lack of major hurricane losses in the third quarter of the year, the continuing impact of the New Zealand earthquake has featured prominently, causing combined ratios to rise amongst direct and facultative (D&F) writers.

In total, it is estimated the earthquake will cost up to $4.5bn in insured losses, with the bulk falling to the New Zealand Earthquake Commission.

Bermudian reinsurer Platinum Underwriters reported that rising costs from the New Zealand earthquake will cost it $40mn in the...

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