Issues

Pressure on Axa CEO Thomas Buberl is set to intensify after XL's proxy filing showed the French carrier had bid around $2bn more than the only other indicative offer the Bermudian received.

Tumbling cat bond prices continue to exert pressure on the wider reinsurance market and are likely to curb rate increases at the upcoming Florida renewal.

USAA has launched the $175mn Residential Re 2018-1 cat bond, which will provide US multi-peril cover, sister publication Trading Risk reported.

PCS has increased its loss number for Hurricane Harvey to $17.1bn from $15.7bn, according to Trading Risk sources.

Higher loss experience and increasing levels of litigation have led to restricted capacity for US directors' and officers' risks.

Pricing on loss-free airline all-risk accounts showed muted upward movement at the 1 April renewals amid continued overcapacity and an uptick in claims.

Albert Einstein is often said to have described compound interest as the greatest mathematical discovery of all time.

Appetite for acquisitions at the rich multiples targeted by sellers is more limited than the feverish speculation of recent weeks may have suggested, according to an initial canvass of bankers working in the sector.

The London market modernisation project is to more fairly distribute the costs of the Target Operating Model (Tom) programme, as it moves to a new funding settlement in 2019.

Securis-backed Special Purpose Arrangement (SPA) 6129 made a loss of £31.4mn ($44.2mn) in 2017 following the year's major catastrophe losses, as its combined ratio spiked to 180.4 percent.

Aspen Bermuda has returned to the cat bond market for the first time since the 2008 financial crisis, as it seeks to raise $150mn to cover US and European catastrophe risk, sister publication Trading Risk has reported.

Insurers requesting the confidential sales materials for StarStone will find a global specialty insurer in far ruder health than the one which Enstar acquired from its private equity backers in 2014.