Earthquake Simulator to Be Built at University of Alabama

There aren’t very many rooms in the world that can successfully reproduce the devastating effects of an earthquake. But come May 1, a laboratory on the University of Alabama campus may be able to do just that

Fairfax Financial’s Quarterly Loss Widens on Cat Claims

Fairfax Financial Holdings, the property and casualty insurer run by investment guru Prem Watsa, said on Thursday that its fourth-quarter loss widened by 56 percent due to catastrophe claims and losses on the company’s equity hedges. The Toronto-based company lost $771.5 million, or $38.47 a share, in the fourth quarter of 2011

Penn State Countersues PMA Over Coverage of Sandusky Lawsuit

Penn State has filed a countersuit against its primary general liability insurer, Pennsylvania Manufacturers’ Association (PMA) Insurance Co.

Best Affirms HDI-Gerling Industrie Versicherung AG, and Subs Ratings

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Germany’s HDI-Gerling Industrie Versicherung AG (HGI) and its rated subsidiary, HDI-Gerling Welt Service AG (HG WS).

Best Affirms Ratings of HDI Hftp. der Deutschen Industrie, Talanx AG

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s HDI Haftpflichtverband der Deutschen Industrie V.a.G.

Electric Cigarette Explodes in Florida Man’s Mouth

A man trying to kick the smoking habit was puffing on an electronic cigarette when a faulty battery caused it to explode in his mouth, taking out some of his front teeth and a chunk of his tongue and severely burning his face, fire officials said.

China’s Trademark System Baffles Foreign Firms

China’s trademark system is a minefield of murky rules and opportunistic “trademark squatters” that even the world’s biggest companies and their highly-paid lawyers find hard to navigate, as Apple and Facebook are the latest to find out. While Apple is embroiled in a legal wrangle over the right to its “iPad” brand, Facebook has to contend with a slew of applications for more 60 variations of its name as it weighs up whether to enter the China market

MAPFRE Highlights 19.3% 2010 Latin American Insurance Market Growth

A report from the FUNDACIÓN MAPFRE, which analyzed 19 Latin American countries, concludes that the Latin American insurance market “achieved in 2010 a 19.3 percent rise in premium volumes compared to the preceding year, reaching €91.370 billion [$120.15 billion], confirming the “sector’s expansion cycle started seven years ago.” The report points out that all of the markets, except for Venezuela, achieved “nominal increases” in their premium volumes in 2010. However, four countries achieved significant growth: Brazil -39.4 percent; Peru – 42.0 percent; Chile 36.6 percent and Uruguay -35.1 percent

The Hartford’s Biggest Stakeholder Wants to Split Up the Firm

The Hartford Financial Services Group’s biggest stakeholder is not happy with its stock price and wants The Hartford CEO Liam McGee to do “something drastic,” including splitting up the company’s life insurance and P/C businesses.

Earnings Report: Montpelier Re

                                                              Q4 2011         Q4   2010           Gross premiums written  —-          $91.7 mn        $102.3 mn Full year  -  2011         2010               $725.5 mn   $720.0 mn            Net premiums earned  ——-          $148.3 mn      $162.2 mnn   Full year – 2011           2010             $622.7 mn    $625.4 mn       Net income/loss —————–    $28.4 mn        $42.2 mn              Full year -  2011            2010             ($115.2 mn)    $212.0 mn Operating income/loss  —–             $16.2 mn)      $53.9 mn Full year   2011           2010           ($154.40 mn)  $164.0 mn                                                         Q4 2011         Q4 2010 Investment gain/loss* —-        $31.50 mn      ($16.2 mn)                    Full year   2011          2010           $26.2 mn    $50.60 mn Net investment income ——  $17.10 mn    $16.50 mn Full year  2011             2010           $68.70 mn      $74.0 mn    Q4 Loss ratio – 116.9 percent (74.1 percent in Q4 2010); Full year – 131.1 percent (2010 – 82.0 percent) *combined figures for both realized and unrealized gains and losses Chairman and CEO Christopher Harris commented: “We made important strategic progress in 2011 with the sale of a non-core business and the expansion of our property catastrophe underwriting partnerships.

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