July 2012/1

The travails of the capital markets and historically low investment returns are concentrating the wider (re)insurance industry on the value that can be unlocked by legacy solutions, senior legacy professionals concluded last month

UK-listed run-off-to-live operator Randall & Quilter (R&Q)'s share price should edge up in the second half of the year following a recent settlement with Ace Group over its 2006 Brandywine transaction

Purchases of legacy P&C (re)insurance assets have already exceeded $1bn at the half-year stage, proving tangible evidence of the vibrant market for run-off business, according to data compiled by The Insurance Insider

Berkshire Hathaway's deals with Australian mega-cedant Suncorp sucked A$1.5bn of event limit out of the open market at its 1 July renewal, taking the heat out of a renewal that was initially expected to be both difficult and expensive...

US cat underwriters helplessly swimming against the swollen tide of excess industry capital and stagnating demand were left disappointed for a second month in a row at 1 July...

After a busy month spent selling off a number of its overseas assets to rival insurers, attention is now likely to turn to the UK operations of the troubled French insurer Groupama.

Flagstone Re could again find itself in the sights of legacy players such as Enstar or Catalina after prime bidder ANV's "final" offer passed a deadline without a response from the firm...

The European Parliament has once again pushed back the date for the full plenary session to consider the proposed Omnibus II Directive from 10-13 September to 22 October

The long-awaited passing of the National Flood Insurance Programme (NFIP) reform legislation has created new opportunities for increasing reinsurance demand

Atrium, Antares, Barbican and Sagicor. The list of privately held Lloyd's (re)insurers considering fresh capital and ownership continues to grow. We have the latest intelligence...

The EC has proposed making disclosure of remuneration mandatory for all sellers of non-life insurance products following a five-year transitional period in which disclosure information should be available on request

Global insurance rates have continued to firm in the second quarter of 2012, marking the fourth consecutive quarter of rate increases...

The UK Supreme Court has ruled that UK courts have the power to strike out fraudulent insurance claims for abuse of process, but noted that this remains a "largely theoretical possibility"

Two of London's small independent brokers posted full-year 2011 losses last month but remained upbeat about their future prospects...

UK legal reformers have released a consultation on changing business policyholders' disclosure requirements to bolster their rights and to amend warranty law

Claims from the New Zealand earthquakes are causing a number of legal cases that test insurance coverage issues, two New Zealand lawyers told International Underwriting Association (IUA) members in London late last month

The (re)insurance community must face up to the "new reality" of historically low investment yields by seeking out alternative ways of making money, according to senior London market figures at last month's annual CFO Forum.

Professional indemnity insurers are facing a nervous wait over potential claims from the Libor-fixing allegations that have engulfed a number of global banks in London. Barclays Bank's A side policy - placed by Marsh and led by XL - could be exposed...

Trading Risk announced the winners of our 2012 awards, who were revealed last month at a ceremony held in London before an audience of more than 200 convergence market luminaries

The Lloyd's Claims Transformation Programme (CTP) reduced the time taken to process claims transactions in the London market by 44 percent by the end of May, according to a 28 June update from Lloyd's head of claims David Lang.

A new listed ILS fund, DCG Iris, has raised £40.1mn in its initial public offering managed by Dexion Capital

Munich Re has launched a new dual-peril Queen Street Re cat bond in the first ILS issuance since the hurricane season opened

Insurers are renewing their interest in collateralised debt obligations and related structured finance securities as they look for yield opportunities amid a low interest and rating environment

Swiss shuffle; $500mn SAC Re launch; Aviva downsizes; Aon Alliant duel continues; RSA debt; Amlin moves; AIG rebrand; Goldman Sachs downgraded; Labuan Re 123% CR; Sidecar restarts; Bean leaves Brit…

Axis Capital founder John Charman faces a potentially lengthy wait if he intends to return to the market following his ousting from the Bermudian (re)insurer in late June...

Munich Re has bought a $200mn "Replicat"-style cover based on the underlying exposures of its American Modern Insurance Group to provide additional protection to its US operations, The Insurance Insider can reveal...

Overall executive pay at the top US-listed brokers fell in 2011 but MMC CEO Brian Duperreault leapt over his peer at Aon Corp to lead the rankings, according to data compiled by The Insurance Insider

The news that American International Group (AIG) is to re-attach its brand name to its global non-life insurance business brings to a close a dramatic chapter of the financial crisis in which a major leader in our universe took an important role...

As part of the Project Darwin reforms Lloyd's and Xchanging have agreed that their joint venture Xchanging Ins-sure Services (XIS) will retain its contract to provide existing processing and settlement services...

Equity markets don't like uncertainty, which is why cat (re)insurance stocks - such as those in the London market - may tread water until the hurricane season plays out

The nascent harder market for property catastrophe reinsurance already appears to be ending, as excess capital and muted demand dampen rate rises that could fizzle out altogether by the start of 2013...

Large UK insurance renewals were broadly flat. We have exclusive pricing information on these and other European accounts that renewed at 1.7