Thailand loss estimates flood past $6bn

Reported loss estimates for the severe flooding in Thailand from property and casualty insurers have surpassed the $6bn threshold after a flurry of loss announcements over the past week… Read more

Analysts bullish on US market turn

Although many (re)insurers' pre-results headlines revolved around Thai exposures and loss creep from earlier 2011 catastrophes, investors are likely to focus more on commentary in earnings releases and calls on the market's rates prospects… Read more

Energy reinsurers put squeeze on after another heavy loss year

Offshore energy insurers are facing the prospect of assuming more risk themselves or cutting back their lines after reinsurers responded to another year of losses by raising prices and tightening terms… Read more

Q4 P&C performance to diverge on Thai exposures

As US giants Travelers and Chubb get the Q4 earnings season underway this week, results across the (re)insurance sector are expected to diverge between those with Thai exposures and international loss creep and the domestically focused players that enjoyed a relatively benign quarter for weather events… Read more

Investment performance mixed

With underwriting performance for the fourth quarter divided depending on exposure to Thailand and loss creep from other international catastrophes, there is also likely to be a mixed picture emerging on investment performance… Read more

AmWINS completes THB acquisition

AmWINS has closed its £31.8mn deal to buy UK-listed broker Thompson Heath & Bond (THB), a transaction first revealed by The Insurance Insider last July.… Read more

• Tawa-led consortium completes Whittington UK purchase
• Montpelier and Mitsui approach Hardy
• ISS approves Trans Alleghany deal

New collateralised writers emerge at 1.1

A handful of new cat funds made their mark on the 1 January renewal season, deploying significant capacity into the collateralised reinsurance and retro, industry loss warranty (ILW) and cat bond markets. … Read more

• Cat bond market set for another bumper year
• Zenkyoren among the first to target 2012 cat bonds
• Renewals stoke capital market interest

NKSJ more than trebles net Thai number to $1.3bn

Major Japanese insurance group NKSJ has more than trebled its net loss forecast for the Thai floods to 100bn yen ($1.29bn) after carrying out a more detailed loss adjusting exercise… Read more

• Platinum to book $27.9mn Thai loss and add $28.9mn to NZ/Japan creep
• RenRe expects $45mn Thai loss, but avoids loss creep
• Up to $235mn loss for Chevron drilling rig

Converium class action opens door for non-US class action suits

A Dutch court has sanctioned a securities class action suit for investors in the late-2001 carve-out of Zurich Financial Services (ZFS)' reinsurance arm Converium, the first collective settlement to be agreed on a transatlantic basis.… Read more

• UK brokers could get premium liability relief
• Disabled US employee sues Munich Re
• Chinese securities cases to burn D&O underwriters

Solvency II could prompt EU exit for captives

Stricter regulatory rules under Solvency II could cause a limited outflow of captive entities from the EU, according to ratings agency Fitch.… Read more

• European committee delays Omnibus II vote
• RBS insurance units slapped with £2.2mn FSA fine
• Alterra wins approval for local Brazilian reinsurer

Solvency II deadline still achievable, says European Commission

The European Commission has denied reports that it is considering further delaying the implementation of Solvency II, and has insisted it remains committed to ensuring legislation is in place to allow the industry to stick to the 2014 deadline.… Read more

• European committee delays Omnibus II vote
• Solvency II counter-cyclical measures on the agenda
• Solvency II: it’s not just about the capital

More schemes expected from continental Europe

The increased focus on run-off portfolios created by the incoming Solvency II regime (see above story) will lead to greater use of schemes of arrangement by continental (re)insurers, according to PricewaterhouseCoopers' scheme tsar Dan Schwarzmann.… Read more

• Run-off sector left hanging by Solvency II vagueness
• Sean Quinn declared bankrupt in Ireland
• 2011 a mixed year for run-off M&A

Ascot to head up new power and utilities consortium

Chartis-backed Lloyd's (re)insurer Ascot Underwriting has formed a new consortium in association with Brit Insurance, QBE Insurance Group and model developer Sciemus to underwrite power and utilities business.… Read more

• $3bn in 2011 upstream energy losses despite lack of cats
• THB hires Aon Benfield Fac trio
• Make the most of short-lived hard market - underwriters told

The Insurance Insider Bermuda Roundtable 2011

When The Insurance Insider last set down on the shores of Bermuda, the market was in the immediate aftershock of the Great Tohoku earthquake. It was late March and at our first Bermuda reinsurance roundtable of 2011 the talk was naturally dominated by the impact of the Japanese tragedy… Read more

The Insurance Insider Monte Carlo Roundtable 2011

When we gathered some of the industry's leading lights in this great coastal retreat last year, we heard tales of how hefty H1 nat cat and man made losses might hasten the end of the latter stages of the late-soft market cycle… Read more

InsideFAC Monte Carlo Roundtable 2011

It was great to see so many of the D&F fraternity gathered in Monte Carlo this year, doing the rounds in what, even for the principality, was especially hot weather. In the run-up to this year's roundtable one issue really seemed to dominate the thinking of those in the market, namely who's buying?… Read more

Monte Carlo Capital Roundtable 2011

What a lot of questions and worries we have today, so many more than in the past. Take investments. Historically, returns from the asset side of the balance sheet have contributed a meaningful percentage of the insurance industry's overall profitability… Read more