Reinsurance

Bermuda insurers and reinsurers see price increases for property catastrophe risks, but recent events are not translating into broader industry increases, according to report released by Keefe, Bruyette & Woods.

The severe weather events in April and May will cost Aspen Insurance Holdings Ltd. approximately $60 million in losses net of reinsurance, reinstatement premiums and tax.

Europe’s new financial regulations could mean opportunities for insurers or become a major financial burden if carriers do not strategically think through their exposure, reports from Guy Carpenter say.

Swiss Re says it has named Christian Mumenthaler chief executive officer of its reinsurance subsidiary, Swiss Reinsurance Company Ltd.

Zurich Financial Services Group says it expects $295 million in losses from April and May U.S. storms for both Zurich North America and Farmers Re.

Multinational corporations are still enjoying the benefits of a competitive marketplace, but underwriters are taking a closer look at certain risks impacted by recent catastrophes For example, the earthquake/tsunami in Japan and floods in Australia are having an impact on certain programs, primarily catastrophe property and business interruption.