Specialty insurer Assurant reduced its reinsurance spend by 25 percent year-on-year to $180mn at the 1 July 2015 renewals as its total per-occurrence property catastrophe coverage was scaled back from $1.77bn to $1.32bn
The ongoing M&A saga between Axis and PartnerRe is set to continue after the companies postponed the critical shareholders' vote as they attempt to sweeten the terms of their agreement.
The crucial shareholder vote for the proposed tie-up between Axis and PartnerRe has been pushed back by two weeks to 7 August as the two companies work to enhance the terms of their agreement
Axis could attract a takeover bid after Exor's recent investor meeting with PartnerRe shareholders made a "no" vote on the Axis deal more likely, according to Macquarie analyst Amit Kumar
Aggregate insured losses from severe weather and flooding in the US during June are expected to surpass $500mn, according to Aon Benfield's Impact Forecasting arm
