December 2011/1

Aon Benfield's contrarian stance on US cat rates may have been rewarded in the form of a flurry of US account wins

Despite a first-quarter sale being targeted, the auction process for Flagstone syndicates 1861 and 1969 is unlikely to come to life until the New Year, The Insurance Insider understands

Despite the prospect of a late renewal described as the most difficult since 2006, reinsurers so far appear to have learned lessons from the market dislocation that occurred in the aftermath of Katrina

US P&C insurer Tower Group and Bahrain-based carrier Arig have made "preliminary expressions of interest" about acquiring flood-struck Lloyd's (re)insurer Hardy, The Insurance Insider can reveal

Reinsurers are actively quoting aggregate covers for clients looking to protect against a recurrence of the frequency losses that have dominated 2011, but it remains to be seen whether the gap on pricing expectations will be bridged

There is little realistic prospect of a deal being concluded between Omega and Haverford chairman Mark Byrne to buy a 25 percent stake in the Lloyd's (re)insurer.

American Family Mutual stands to pick up a $200mn payout from the cat bond market after its second Mariah Re bond was put on its way to being declared a total loss

Brit Insurance is improving the appeal of its up-for-sale UK business Brit Insurance Ltd (BIL) to potential buyers by looking at adverse development-type cover to protect against under-reserving.

Defunct Swiss reinsurer Glacier Re has further extended the maturity date on its loss-struck Nelson Re Class G notes, as the debate over covered losses from 2008's Hurricane Ike continues

New Lloyd's chairman John Nelson reached out to brokers last month saying they would be at the heart of the market's growth in the future.

Its been a tough few years for the direct and facultative (D&F) market, as heavy cat and industrial losses have combined with soft primary and treaty rates to make the product less compelling for cedants.

An estimated 6-10 cat bonds are expected to be pitched to capital markets investors this month as the ILS sector ramps up for what is predicted to be a busy 2012