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Flooding in Thailand that began in July and peaked in October and November could result in insured losses of more than $10 billion, according to the latest estimates.

Marine insurers are used to managing change brought on by new technology, economic turbulence or political volatility. But the number, breadth and complexity of the challenges confronting the industry today can appear daunting to even the most experienced underwriter.

After taking into account estimated Thailand-flood losses at Swiss Re and Munich Re, Moodys Investors Service says it expects the event to meaningfully hit the reinsurance industrys fourth-quarter results, but notes that it should also add to the current momentum for price hardening.

After taking into account estimated Thailand-flood losses at Swiss Re and Munich Re, Moodys Investors Service says it expects the event to meaningfully hit the reinsurance industrys fourth-quarter results, but notes that it should also add to the current momentum for price hardening.

When looking at the property and casualty industrys performance for the first nine months of 2011, or even just the third quarter, the news is the same: sharply declining profits and underwriting results compared to the same periods in 2010, according to three recent reports.

All but four from a group of 19 U.S. property and casualty reinsurers reported a net underwriting loss during the first nine months of the year.

The Destin, Fla.-based financial holding company Concordis Group, Inc. has signed a letter of intent to acquire Advance Underwriting Managers LLC.

The Destin, Fla.-based financial holding company Concordis Group, Inc. has signed a letter of intent to acquire Advance Underwriting Managers LLC.