January 2014/3

Over half of all UK insurance brokers have delayed or cut investment after being hit by skyrocketing contributions to the Financial Services Compensation Scheme (FSCS) fuelled by mis-sold payment protection insurance, according to research by the British Insurance Brokers' Association (BIBA).

UK public-private reinsurer to search for CEO and reinsurance broker(s) to structure programme...

The chief reinsurance buyer for American International Group (AIG), Samir Shah, told sister publication Trading Risk that the firm's use of cat bonds was not about trying to stimulate competition in the reinsurance market but to help develop the ILS market over the long term.

Average premiums in the ILS and ILW market dropped by 27 percent in 2013, reaching levels last seen before Katrina

The cat bond market can expect new issuance of between $7bn and $8bn in 2014, according to a survey of major ILS broker-dealers conducted by our sister publication

Most US/Bermudian (re)insurers are set to unveil stronger earnings as they publish their 2013 financial results over the next six weeks, but investors are likely to remain focused on the sector's 2014 pricing expectations amid growing concerns that the market is entering a soft phase. As the full-year results season starts in earnest this week, The Insurance Insider looks at what to expect...

The transatlantic transaction between giant mutuals State Farm, Crédit Mutuel and Desjardins Group will create the second largest P&C insurer in Canada.

Mutually owned UK conglomerate the Co-operative Group has cancelled the planned disposal of its general insurance business seven months after putting it on the block, citing its strong growth potential.

Risk Strategies Company (RSC)'s first acquisition since its private equity buy-out last summer is expected to be followed by a second in the coming days as the US broker looks to build out its platform under CEO Michael Christian and new chairman Roger Egan.

Another US consolidator, USI Insurance Services, last week completed its sixth acquisition of the last 12 months with a deal to buy New Jersey-based specialist employee benefits wholesaler Oscar & Associates.

Expansive US broker Brown & Brown is set to complete its second major acquisition in a year after agreeing a deal to buy-out Aquiline-backed The Wright Insurance Group for an initial total net consideration of $602.5mn.

London-listed carrier Amlin has received regulatory approval to write insurance business in Germany, the company has said.