A round-up of the latest reinsurance stories online

Activity on the Global Reinsurance website this month was all about Australia, with three of the top five stories dedicated to the country’s slew of catastrophic events in late 2010 and early 2011.

Australia was still struggling with high floodwaters when Typhoon Yasi slammed into North Queensland as a category 4 storm, ­one category down from the highest rating of 5 on the Saffir-Simpson windstorm severity scale.

The situation with both the flood and typhoon losses is still evolving, and readers are clearly keen to keep on top of any updates and estimates.

While the situation in Australia captivated much of the attention on the site this month, the most-read story was the news that broking group Arthur J Gallagher’s profit for the year was up 35%, despite a slump in organic growth.

Gallagher was the first of the larger brokers to report its full-year 2010 results, and so readers were likely trying to gauge what to expect from Marsh, Aon and Willis. The good news of a strong profit increase in what is a tough time for brokers probably also fuelled interest.

The story in fourth place shows that, although less immediate than the impact of catastrophe losses, Solvency II is still very much at the forefront of readers’ minds and they are keen for any extra detail.

It had long been expected that the implementation date for Solvency II would be 1 January 2013 rather than the previous official date of 1 November 2012, but readers found it heartening to receive confirmation of this fact.

Online top five

1. Gallagher full-year profit up 35%

Organic commissions fell 2%


2. QLD flood losses still uncertain for reinsurers

Policy wording regarding flooding versus flash flooding will reduce claims for insurers


3. Cyclone Yasi threatens QLD

Major cities of Cairns, Townsville, Mackay and Innisfail have been warned


4. Solvency II implementation date pushed back to 2013

Transitional arrangements will also give insurers more time to adjust


5. Cyclone could cost Australia $5bn – EQECAT

Category 4 storm hits Queensland