December 2012/3

Two private bonds are currently circulating the market, according to sources, as well as an offering from Zurich.

Swiss Re says new levels of stability in the insurance-linked securities (ILS) investor base could help reduce spread volatility and make pricing more predictable and stable.

Strong demand for retro cover has inspired Everest Re to launch "Purple", a new pillared retro product being marketed for the January 2013 renewals.

Senior executives of failed US banks should not assume their directors' and officers' (D&O) insurance policies will automatically cover them in lawsuits brought by the Federal Deposit Insurance Corporation (FDIC) because of "insured versus insured" exclusions, according to Bass, Berry & Simms lawyers Britt Latham and Jason Hale.

The pace of US federal securities class action lawsuits has been maintained since 2007, with a rise in M&A objection lawsuits offsetting a fall in credit crisis-related litigation.

RSA has surprised the market with a late move to recast its cat programme by creating a main multi-territory £1.5bn ($2.4bn) tower, The Insurance Insider can reveal.

Zurich Insurance Group dealt a blow to its catastrophe reinsurers as it posted $758mn of net losses from Superstorm Sandy, including $58mn of reinstatement premiums.

Underwriters on the first $500mn excess layer of the IG reinsurance programme have incurred losses of some $800mn in the past two underwriting years, analysis from The Insurance Insider suggests

Torus has folded Syndicate 2243 into Syndicate 1301 to create a single Lloyd's platform for 2013, The Insurance Insider can reveal.

The Project Darwin process has highlighted that market reform at Lloyd's must be led from within the market rather than imposed from the top-down if it is to succeed, Lloyd's CEO Richard Ward has said.

Apollo and CVC Partners, the private equity owners of Brit Insurance, expect to receive in excess of £250mn in special distributions as the transformation into a dedicated Lloyd's business yields capital benefits.

JLT is set to launch a new directors' and officers' (D&O) insurance product that will carry multi-year policy terms, The Insurance Insider has learned.