July 2012/3

As US and Bermudian P&C (re)insurers begin reporting Q2 results this week, investors will be looking behind the broadly solid profits that are expected at catalysts for multiple expansion in a sector that continues to trade around historic lows.

As the dust settles on the last major property cat renewal before 1 January 2013, underwriters will shortly head to Monte Carlo and the autumn conference season with a restricted arsenal for negotiations with clients and brokers.

The Libor-fixing scandal could cost the banks involved around $14.7bn in regulatory fines and litigation fees, according to research by Morgan Stanley.

Catastrophe risk modeller Eqecat is set to launch a complete and fundamental overhaul of its modelling software with the release of RQE in October this year.

With asset allocations at (re)insurers expected to significantly shift under the Solvency II regime, carriers are already looking at more diversified investment strategies as they hunt for yield.

Five outbreaks of US tornadoes accounted for almost half of the $12bn tally of global natural catastrophe losses to hit (re)insurers in the first half of 2012, according to Munich Re.

A leading plaintiff lawyer has told The Insurance Insider that weak leadership in the aviation market is preventing a speedy resolution to passenger liability claims relating to the Air France Flight 447 disaster.

The Federal Reserve Bank of New York (FRBNY) has requested bids for 20 securities contained within the Maiden Lane III portfolio, in a move that could herald the completion of the bank's attempt to wind down its American International Group (AIG) bailout.

Independent Lloyd's broker Newman Martin Buchan (NMB) has added almost 900 basis points to its operating margins to widen them to 34.4 percent, accounts for the 12 months to 31 March show.

Colemont Global has exited the Baltic market as its Lloyd's broker prepares to merge with fellow AmWINS subsidiary THB, according to the recently filed results of Colemont UK Holdings Ltd.

In an apparent re-run of the group's abortive first sale process in 2008-09, UK media reports that private equity houses are again circling Royal Bank of Scotland (RBS)'s UK personal lines insurer Direct Line.

Marsh & McLennan Agency (MMA) has acquired Security Insurance Services as the Marsh subsidiary continues to consolidate its status as a major player in US middle-market agency business.