January 2010/4

Modelling agency Risk Management Solutions (RMS) launched its new Paradex US Earthquake (PUE) parametric index for estimating insured losses from US quakes last week.

Marty Becker, CEO of Bermudian (re)insurer Max Capital, last week reiterated the firm's commitment to expansion after losing out on a tie-up with IPCRe last year, saying that "we consider enhanced scale to be desirable".

Quoted Lloyd's (re)insurer Amlin plc will write £40mn more catastrophe business in 2010 as it benefits from acquiring Fortis Corporate Insurance.

Models that use short-run data to predict insured losses from North Atlantic hurricanes should not be used for important insurance applications, according to a report last week from Karen Clark & Company.

Fitch Ratings has predicted that continued "strong" cat bond issuance will be tempered by a soft traditional reinsurance market in 2010.

PartnerRe is backing an innovative Peruvian insurance scheme that uses sea surface temperature (SST) as a proxy for catastrophic losses.

By 2013, insurance regulators' forum the International Association of Insurance Supervisors (IAIS) expects to have an international regulatory framework ready for impact assessment, as it continues the drive for more consistent global regulation.

Munich Re is expected to book a net attributable profit of EUR0.63bn for the fourth quarter of 2009, which should take it to a full-year profit of EUR2.4bn, according to analysts at Keefe, Bruyette & Woods (KBW).

The peak quarter for downgrading insurance companies' credit ratings has passed, but there may be further downgrades before stability returns to the market, Fitch Ratings predicted last week.

Press reports last week claim that US life giant MetLife is in talks with AIG about a $15bn takeover of the latter's life insurance subsidiary, Alico, in a deal that would dwarf previous post-rescue sell-offs.

New York-listed (re)insurer Assurant has paid $3.5mn to settle charges with the Securities and Exchange Commission (SEC) that it inflated its reported income in 2004 using a finite reinsurance scheme.

Global trade credit insurer Coface has declared an end to the global credit crisis of the last two years, but warned of the high risks that debt, asset and capacity bubbles pose to the recovery.