Catastrophe & Restoration

AXIS Capital Holdings Limited says it expects between $90 million and $105 million in second-quarter losses, net of reinsurance, tax and reinstatement premiums, from a June aftershock in Christchurch, New Zealand and from April and May U.S. storms.

Producers who know the ins and outs of securing coverage for an art collection, expensive wine cellar or million-dollar foreign sports car may find that this expertise gets their foot in the door with some highly desirable clients.

While convincing collectors that they need to insure their art can be a challenge, those who crack the coverage code can find they've gained access to extremely desirable clients.

Because damaging winds are rarer far inland, the hurricane risk to the interior of the U.S. can be easy to overlook. But storms can travel hundreds of miles after landfall, and there is plenty of historical evidence for storms causing billions of dollars of damages in interior states.

WRM America has agreed to buy the flood business unit from Fidelity National for $210 million.

Meadowbrook Insurance Group Inc. says its second-quarter results will include higher-than-average storm-related losses, net of reinsurance, of approximately $12.5 million pre-tax.