Issues

Asbestos loss trends have stabilised but remain a persistent drain on the US P&C sector, with an estimated $13bn funding gap between the $100bn projected total liability and the $87bn paid out or reserved for as of last year, AM Best data indicates.

US auto insurers are expected to benefit from further rate increases that will feed through to the bottom line this year and into 2018, according to broker JLT Re.

Hyperion would "absolutely" consider another transformative M&A deal following its $400mn investment from Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ), CEO David Howden has said.

The collateralised reinsurance or private insurance-linked securities (ILS) market is likely to witness 10 to 30 percent premium rate rises in 2018 depending on the line of business, Twelve Capital has said.

Munich Re primary carrier Ergo Group is pushing into middle market commercial insurance through the launch of Poland-based Ergo International Corporate Solutions (EICS)

The London Stock Exchange-listed Blue Capital Alternative Income Fund anticipates a median return of about 15 percent for next year, with a return of 10 percent for a mean loss scenario.

Schroders has launched a life insurance-linked securities (ILS) fund with $750mn of committed capital spread across several mandates.

Credit Suisse-managed reinsurance vehicles Humboldt Re and Kelvin Re have both had their A- ratings confirmed by AM Best, after the ratings agency said that each would record an underwriting loss this year.

Guarantee Insurance controlling shareholder and former Patriot National CEO Steven Mariano received transfers from Guarantee for no clear business purpose, weakening the carrier's financial position, a Florida accountant has alleged.

The UK government gave a reprieve to the financial services sector last week by addressing a potential tax hit that could have increased the cost of Brexit-related restructuring.

The Bank of England has called for UK and EU legislation to safeguard existing cross-border insurance and derivatives contracts to avoid problems paying claims post-Brexit.

Allianz Global Corporate & Specialty (AGCS) has promoted Yogesh "Yogi" Virji to lead its UK cyber team while hiring an additional underwriter from Principia Underwriting.