The Week in a Minute, April 6, 2012

  • Rates up 3% last month, according to MarketScout, following increases of 2% in February and 1% in January.
  • And Guy Carpenter said rates rose on reinsurance renewals at April 1, a big renewal date in the Asian markets, so any increases would be exacerbated by the brutal 2011 that region suffered.
  • $1.2B in March cat losses, thanks to tornadoes, Aon says. That, of course, doesn’t count this week’s Texas storms, from which State Farm has seen 9,000 claims – mainly hail.
  • Colorado State forecasters put numbers (pdf) on their prediction of a mild hurricane season: 10 named storms, four hurricanes, two major ones. They helpfully add: “Coastal residents are reminded that it only takes one hurricane making landfall to make it an active season for them.”
  • Zurich Financial Services officially changed its name to Zurich Insurance.
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