July 2007/5

Bermuda-headquartered (re)insurer Catlin Group announced the appointment of a new aviation team head, based in Paris.

Lloyd's insurer Amlin plc's announcement of plans to set up a Singapore office is the latest in a series of moves by market participants and the Corporation to directly access business in the Asia Pacific region.

Insured losses in Belgium from January’s Windstorm Kyrill have reached EUR213mn, according to the Belgian insurer association Assuralia.

The Consumer Federation of America (CFA) accused US insurer Allstate Corp of excessively raising home and auto insurance rates and using questionable practices to settle claims.

Aviation (re)insurance rates in Brazil are set to rise following the second major accident in under a year.

Ariel Holdings Ltd’s £193mn swoop for Atrium Underwriting Group last week was a further sign that the stars have aligned for Lloyd’s M&A activity as reinsurers look for growth at a time when rates are falling.

State-backed Florida Hurricane Catastrophe Fund (FHCF) is planning to bolster its cash reserves with a potential $10bn bond issuance.

The UK-based run-off acquisition firm Tawa plc is set to float on London Alternative Investment Market (AIM) later this week in a £127mn Initial Public Offering (IPO).

Although (re)insurers are expected to unveil strong figures as the reporting season begins in earnest this week, analysts will assess the wider impact from high-profile second quarter catastrophe events in the UK and Australia following IPCRe’s...

Fitch Ratings next-generation stochastic capital model, PRISM, will change the way risk is assessed for (re)insurers, the rating agency has claimed.

Bermudian reinsurer IPCRe warned last week that its 2007 profits would be affected by the recent storm and flood events on opposite sides of the globe in the UK and Australia.

Capita CMGL has confirmed the reinsurance to close (RITC) transfer of the run-off Duncanson & Holt Syndicate 55 to a new Lloyd’s syndicate backed by CarVal Investors LLC, as first revealed in the July issue of The Insurance Insider.