Reinsurance

Five more Bermuda-based insurers and another from Switzerland have chimed in with expected catastrophe losses from Superstorm Sandy.

Three Bermuda-based insurers have announced their expected losses from Superstorm Sandy as fourth-quarter earnings announcements near.

Specialty insurer Markel Corp said it will buy Alterra Capital HoldingsLtd for about $3 billion in cash and stock to diversify into reinsurance.

Independent reinsurance-brokerage firm Holborn says insured losses from Superstorm Sandy could reach $30 billion. The firm also says modelers' assumptions of flood losses mistakenly paid by personal-lines insurers are exaggerated.

Independent reinsurance-brokerage firm Holborn says insured losses from Superstorm Sandy could reach $30 billion. The firm also says modelers' assumptions of flood losses mistakenly paid by personal-lines insurers are exaggerated.

The Insurance Industry Charitable Foundation Northeast division made its largest-ever distribution of charitable grants at its sixth annual benefit dinner this week handing out $960,000.