April 2014/3

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.

Allied World is continuing to build its European platform with the launch of an onshore energy construction business headed by former AIG executive Alf Müller, The Insurance Insider revealed earlier today (22 April).

AmTrust Financial Services and National General have dropped plans to buy some of Tower Group's US-domiciled insurance companies as part of associated firm ACP Re's proposed takeover of the ailing carrier, AmTrust said last week.

Last year the US P&C industry made an underwriting profit for the first time since 2007, helped by rising premiums and lower claims, according to research from Verisk Analytics' ISO unit and the Property Casualty Insurance Association of America (PCI).

Travelers strength; Equity Red Star rename; P&C profit; Platinum profit; RLI beats; Lancashire dip; CNA appoint; Marsh on Tria; Housley confirmed; Quindell plummets; RSA departure; New HCC chair; Mexican quake; Markel expands; Catastrophes ease; Cyber warning; Motor rebound; Xchanging pays tribute; Allied World expands; RMS adds partners; Levy reduced; Liberty hires; Reinsurance boost; Crackdown welcome; Arista recruits; WR Berkley president

Martin Reith, the Lloyd's market veteran who founded Ascot Underwriting, is to join US wholesale broker AmWINS as an independent director.

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.

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.

AM Best setback leads to rethink at ambitious start-up: Jewett leaves while Allied World has now been linked. For full article, click here...

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 favouring.

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.