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February 2012/2

  • Underwriters must address structural changes on reinsurance programmes as well as pricing in response to near record 2011 cat losses and cat model changes.
  • American International Group (AIG) could pay its former subsidiary Transatlantic Holdings up to $125mn to settle a securities lending dispute
  • Lloyd's sent a delegation to India last week as it renewed its efforts to gain traction in the fast growing but notoriously protectionist (re)insurance market.
  • Seventy percent of European insurers believe that the implementation of Solvency II will mean that asset allocation changes on the investment side of the balance sheet will result in greater exposure to higher return sectors.
  • Gabriel Bernardino, the chairman of the European Insurance and Occupational Pensions Authority, has reiterated calls for a clearer timetable on Solvency II
  • It is said that one swallow does not make a summer, and it is perhaps in that vein that we should view the two quick-fire continental European legacy deals announced already this year.
  • Darag has extended its acquisitive streak into 2012 with the purchase of Finland-based run-off insurer IngoNord Insurance Company, The Insurance Insider revealed last week.
  • The global financial services industry should view the 2008 financial crisis as a "dress rehearsal for the really big one", according to Chartis CEO Peter Hancock.
  • Representatives of the US plaintiff bar community have downplayed fears that the wave of US lawsuits against Chinese companies listing in the States will become the next big loss event for professional lines underwriters.
  • The (re)insurers rewarded with premium valuations are those that can demonstrate effective capital management across the cycle, according to a panel of industry executives at the Plus D&O Symposium in New York last week.
  • A broad hard market will not occur until there is "blood on the streets", according to Transatlantic Holdings president and CEO Mike Sapnar.
  • The contrast between the losses and the scale of reinsurers in the cat-heavy years of 2005 and 2011 respectively provides a compelling demonstration of the oft-repeated claim that the industry was well capitalised at the start of last year.
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