December 2017/3

United Insurance Holdings (UPC Insurance) has raised $150mn through a public debt offering, which the Floridian carrier has said will enable it to participate in future opportunities.

Lloyd's has issued a new round of guidelines for syndicates writing accident and health and life insurance for international and/or government organisations after identifying a number of common misconceptions.

The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have offered leeway on the incoming Senior Managers and Certification Regime (SM&CR) with the promise of an implementation period and relief for some companies from certain requirements.

The International Group (IG) of protection and indemnity (P&I) clubs has set back hopes of broad-based rate rises in the marine market after achieving a rate reduction of around 1 to 2 percent on renewal of its excess-of-loss (XoL) reinsurance treaty.

Workers' compensation insurers accounted for about a quarter of the 354 US P&C carrier impairments recorded over the past 17 years, according to AM Best data.

Markel Catco has increased its fund loss reserves for its Catco Reinsurance Opportunities Fund by 4.4 percent of net asset value (NAV) in response to October's California wildfires.

Electricity supplier Edison's statement last week that it believes its facilities are being investigated as a possible cause of the ongoing Southern California wildfires has raised the possibility of another painful blow for casualty underwriters.

Early momentum for reinsurers in the US property catastrophe treaty renewals is fast evaporating as cedants increasingly exploit excess capital to cap rate rises, The Insurance Insider understands.