April 2010/5

It was profoundly disappointing, but not altogether surprising, that the emergence last week of global banking levy proposals should have attempted to tar the insurance industry with the soiled and fetid bankers' brush.

Platinum Underwriters has confirmed that is wary of exposing itself to the increasingly risky Florida insurance market as the major treaty renewal season for the state approaches.

Travelers, Chubb and Platinum have set a positive tone for the early first quarter results, with favourable reserve releases and improved investment performance offsetting heavy catastrophe losses.

Lloyd's insurer Novae Group is continuing to explore options to shed its US legacy liabilities despite recently ending exclusive talks with Bermudian run-off firm Enstar, The Insurance Insider understands.

The up to $1.25bn Deepwater Horizon oil rig loss will reverse softening in the Gulf of Mexico (GoM) and other pockets of the offshore energy market, according to sources.

Physical damage and liability claims relating to the Deepwater Horizon oil rig that burnt and sank in the Gulf of Mexico (GoM) last week could top $1.25bn, according to senior energy underwriting sources.