Insight and Intelligence on the London & International Insurance Markets

24 April 2014

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Aspen beats and says ROE will accelerate in 2015-16

There was no mention of the Endurance bid as Aspen reported operating income of $1.55 a share that was up 46 percent from $1.06 per share in Q1 2013 and well ahead of Wall Street analysts' forecasts of $1.09 a shareRead more

Everest Re points to offensive and defensive use of alternative capacity

Everest Re highlighted the role of alternative reinsurance capacity in its operating strategy as it became the latest Bermudian to beat Wall Street forecasts for first quarter earningsRead more

Strong top and bottom line growth at Allied World

Allied World reported 54 percent growth in operating profits for the first quarter to $129.9mn and a 7.7 percent increase in gross written premiums to $901.4mn as the Switzerland-headquartered (re)insurer got the year off to a strong startRead more

Floridian start-up insurer Heritage seeks $100mn from IPO

Florida "depop" insurer Heritage P&C is seeking to raise up to $100mn from an initial public offering of its shares as it continues to ramp up its expansion plans, according to a 21 April Securities and Exchange Commission filingRead more

Tokio Marine Europe names new CUO

The European arm of giant Japanese carrier Tokio Marine has appointed former Zurich Insurance executive Peter Leslie as its new chief underwriting officer (CUO), replacing Eitaro Doi, the company said today (23 April)Read more

Quindell shares nudge up after Gotham slump; threatens journalists

Shares in London-listed insurance outsourcing firm Quindell rose nearly 10 percent this morning (23 April), partially recovering from a 40 percent slump yesterday after US investor Gotham City Research published a highly critical note on the companyRead more

News analysis

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Aspen hunts for white knight as war for hearts and minds intensifies

Aspen's banker Goldman Sachs has been quietly approaching other possible acquirers for the business as the company's board follows a twin-track approach to fighting off the unwanted attentions of John Charman's EnduranceRead more

Lloydís to focus on consortiums in response to broker facilities threat

Lloyd's will support the development of new syndicate consortia as brokers reduce the number of carriers they deal with, the Corporation outlined in its new three-year planRead more

Early reporters point to favourable Q1

New York-listed (re)insurers Platinum, RLI and Travelers kicked off the Q1 reporting season in an upbeat fashion as benign cat losses and continued reserve releases helped to bolster their bottom linesRead more

Airline sector makes a loss in 2013 as rates continue to drop

The airline insurance market fell to a loss last year for the first time since 2010, a trend which is likely to continue this year as rates continue to fallRead more

What would $6bn+ Endurance-Aspen look like?

Putting aside Aspen's vehement objections, what would a combined entity actually look likeRead more

More coverage

Mergers & Acquisitions

Defence could force Aspen to decline improved Endurance offer

The fierce defensive stance of Aspen's board could make it near-impossible for the Bermudian carrier to accept an offer from Endurance even if it is very financially attractive.Read more

Trading RiskAll Articles
The reinsurance convergence market uncovered

Florida Citizens to issue marketís biggest cat bond ever

Florida Citizens Property Insurance is on course to issue the largest cat bond in the history of the market with its new Everglades Re transaction, demonstrating that investors' appetite for insurance-linked securities remains undiminished despite falling returns.Read more

Loss fileAll Articles
Major losses and claims tracked

Marine market braces for $140mn Korean ferry loss

The 16 April South Korean ferry disaster, which has left 113 people dead and 190 unaccounted for, is expected to generate a total insured loss of just over $140mn, The Insurance Insider estimates. Read more

The latest on litigation and legal developments

No jury trial in Aspen poaching dispute

There will be no jury trial in the acrimonious case brought by Aspen accusing a former executive vice president of an "orchestrated" attempt to lure its entire casualty team to rival Endurance.Read more

BriefingsAll Articles
Mapping the regulatory and legislative landscape

Geneva Association lobbies for action on wildfire risk

Governments must introduce new measures to combat the growing risk of wildfire, which is increasing because of the effects of climate change, industry think tank the Geneva Association has said.Read more

Solvency IIAll Articles
All the latest news and analysis as D-day approaches

Solvency II approval shifts focus to implementation countdown

The European Parliament has approved a key part of the European Union's Solvency II capital regime for (re)insurers, keeping the new rules on track to come into force by the much revised deadline of January 2016.Read more

In-depth coverage of the run-off sector

R&Q remains confident of expansion into live underwriting

London-listed Randall & Quilter (R&Q) today (22 April) confirmed a dip in its 2013 pre-tax profit, in part because of lower-than-expected premium revenues from its own Lloyd's Syndicate 1991. Read more

Inside FACAll Articles
Full coverage of the facultative reinsurance market

Nexus to launch accident and health lines

Fast-growing London market managing general agency Nexus Underwriting Management has announced plans to launch a number of new product lines writing accident, sickness and travel cover on a direct and facultative basisRead more

Insider Comment

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Lime Street: the road to Damascus

At the core of contrarianism is the belief that if almost everybody holds the same opinion, the most profitable bet is always to wager the exact opposite of whatever the crowd is currently favouringRead more

Scriven Profile

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Mario Greco

Mario Greco CEO of Assicurazioni Generali is our April 2014 profileRead more

Research & Supplements

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Bermuda Roundtable 2013 14

Bermuda Roundtable 2013/14

On the face of it, Bermuda's established cadre of (re)insurers might be forgiven for looking back on 2013 as a golden yearRead more

London Reinsurance Roundtable

London Reinsurance Roundtable 2013/14

The Insurance Insider's London Reinsurance Roundtable generated a broad consensus that Africa's emerging market holds exciting potential for global reinsurersRead more

IUA Review 2013

IUA Review 2013

Two years have passed since the last International Underwriting Association (IUA) review published by The Insurance Insider and one thing at least has changed - the size of the London company market itselfRead more

SIRC Newsletter

SIRC Newsletter 2013

Singapore is a city built on trade, so it is entirely appropriate that it finds itself as one of the P&C industry's acknowledged global (re)insurance hubsRead more

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