RenaissanceRe revises 3Q results (December 01, 2005)

RenaissanceRe Holdings Ltd. recently revised its previously reported third-quarter results, cutting net loss for the third quarter of 2005 by $34.8 million to $71.0 million. Renaissance claims the loss was caused by related hurricane catastrophes. “A reinsurance recovery within (RenaissanceRe’s) reinsurance segment that was triggered by the publication of a final third-party industry loss estimate,” […]

November 30, 2005 | Last updated on October 1, 2024
1 min read

RenaissanceRe Holdings Ltd. recently revised its previously reported third-quarter results, cutting net loss for the third quarter of 2005 by $34.8 million to $71.0 million.

Renaissance claims the loss was caused by related hurricane catastrophes.

“A reinsurance recovery within (RenaissanceRe’s) reinsurance segment that was triggered by the publication of a final third-party industry loss estimate,” Reannaissance Re says.

The Company’s net loss attributable to shareholders for the first nine months of the year has been reduced from $105.8 million to $71.0 million, compared with a restated loss of $58.4 million in the year-earlier period.

A cyber side effect of the CrowdStrike outage

Claims

A cyber side effect of the CrowdStrike outage

Although direct insured losses from the CrowdStrike software update error weren’t as large as expected, threat actors did try capitalizing on the resulting ‘blue screen of death’ errors to maximize damage, a CFC executive said during a recent webinar. On the morning of July 19, endpoint security company CrowdStrike released an update to its Falcon […]

By Jason Contant | September 10, 2024

3 min read

Captain Obvious: Premiums will rise after 2024’s loss year

Claims

Captain Obvious: Premiums will rise after 2024’s loss year

If one consequence of insurers paying out $7.6 billion in claims damage for severe weather events isn’t obvious enough, P&C insurance industry professionals are spelling it out: consumers can expect to see their property premiums increase sometime in the near future.  “I’m happy to be in an industry that’s trying to actually meet the consumer’s […]

By Alyssa DiSabatino | September 20, 2024

3 min read

A different type of auto fraud

Claims

A different type of auto fraud

Although preliminary reports suggest auto theft in Canada is decreasing in 2024, another issue of concern is emerging for auto insurers: a surge in fraudulent credit applications. Automotive application fraud is up 54% year-over-year in Canada, largely driven by falsified credit applications and the continued prevalence of identity theft, consumer credit reporting agency Equifax Canada […]

By Jason Contant | September 24, 2024

2 min read