February 2015/1

London company market trade body the International Underwriting Association (IUA) has welcomed the Bank of England (BoE)'s appointment of Sam Woods as executive director for insurance supervision but expressed concern over a lack of experience in its insurance division.

If any evidence was needed of just how soft the Florida reinsurance market will be at 1 June it can be found in the placement of recent start-up Mount Beacon's cat programme

A London jurisdiction dispute has uncovered a suit for unfair dismissal brought by Gary Hirst, one of the four founders of Chesterfield Insurance Brokers, against the London-based intermediary.

Private insurers could need $1.5bn+ new limit as cat fund also considers risk transfer

London market broker Houlder (Houlder London) was granted permission late last month to use a defence alleging fraud and forgery against its Asian sister broker Houlder Far East in a negligence dispute being litigated in London.

Gibraltarian motor insurer Southern Rock Insurance Company appeared in court last month (30 January) amid a bitter row with its broker Brightside Group, which allegedly failed to adequately screen policyholders.

The end of 2014 and the beginning of 2015 has seen a flurry of activity in the Japanese legacy market with three books totalling $224mn being acquired by buyers across the Pacific, The Insurance Insider understands.

Legacy-to-live carrier Enstar has completed its $218mn acquisition of South Carolina-headquartered Companion Property & Casualty Insurance Group, the firm announced late last month.

Enstar's Lloyd's legacy platform Shelbourne has struck a reinsurance to close (RITC) agreement that will bring the curtain down on the ill-fated Singapore-based syndicate backed by Japanese trading house Mitsui & Co, The Insurance Insider can reveal.

Kinsale prepares for IPO; Milligan joins Lancashire; Novae confirms Patten; Guy Carp hires analytics exec; Compre finds a buyer; Tokio GWP hike...

Should investors take advantage of wider risk-asset spreads or play it safe?

Former underwriters from defunct Swiss insurer Infrassure have spawned new energy capacity as they have begun to write fresh books of business elsewhere or have set up their own businesses.