New Cap Reinsurance failed to lodge its full-year results for the second time in two weeks yesterday, with a further deterioration in its claims reserves forcing it to delay the release of its results until at least next week.

New Cap warned last month that it expected an operating loss of at least $US90 million ($140 million) for the year to December 31, after hefty losses from Hurricane Georges and the Swissair disaster. That figure is now expected to be closer to $US110 million.