July 2012/3

There are fears that the EU may have to push back the January 2014 launch of its Solvency II capital regime after talks on a final draft of the new framework failed ahead of the impending EU parliamentary summer break.

Weekly share price movements on The Insurance Insider's universe of global P&C (re)insurers and brokers

The Lloyd's Market Association (LMA) is rationalising the market's model binding authority agreements.

A US congressman last week accused the US National Association of Insurance Commissioners (NAIC) of acting beyond its powers, and urged the newly created Federal Insurance Office (FIO) to review its role.

The financial interest coverage (FinC) created to circumvent restrictions on Islamic insurance in global programmes will probably be spurred by international insurers with takaful capabilities such as Munich Re, Swiss Re and Hannover Re, according to a report.

EU insurers will no longer have to quantify overall solvency needs for each separate year of the Own Risk and Solvency Assessment (Orsa) projection period, according to the Orsa draft guidelines released by the European Insurance and Occupation Pensions Authority (Eiopa).

The European Insurance and Occupation Pensions Authority (Eiopa) has raised the threshold for (re)insurers reporting under its financial stability mandate to include firms with EUR12bn of assets on their Solvency II balance sheet.

The big three brokers' dominance of the Lloyd's market increased in 2011 as their market share across all lines grew from 48 percent to 52.9 percent, according to Lloyd's figures obtained by The Insurance Insider.

Citizens' success in dramatically increasing its reinsurance protection as it entered the 2012 North Atlantic hurricane season was largely down to the very different dynamics in the property cat reinsurance market this summer.

Drought conditions affecting large areas of the US are not yet a cause for concern for crop insurers and their reinsurers, according to analysis from Stifel Nicolaus.

Total remuneration of chief financial officers across a sample of Bermudian (re)insurers and global brokers fell slightly in 2011, analysis by The Insurance Insider shows.

Far from being a major concern for US and Bermudian (re)insurers, the Eurozone crisis could be a source of opportunity for carriers.

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.

Freddie Mac is in talks with a trade group to discuss how to reduce force-placed insurance fees, according to QBE, which is the second largest carrier in the US force-place market.

Hiscox plc has disclosed a significant improvement to its forecast for the 2011 year of account at its flagship Lloyd's syndicate.

Suncorp has released an update on its cat reinsurance renewal, confirming many of the details revealed by The Insurance Insider in the last month.

US specialty insurer AmTrust has ended its search for a Lloyd's platform after buying the diminutive Dore & Associates (DAHL) and its Syndicate 2526.

Chubb feels the wind; Howard takes top job at Towers Watson; Equinox appoints Lewers; Mitsui hires in liability; Things looking up in casualty; Arch Re fac in London ; UK flood levy proposed; WR Berkley towers; Catco ups loss ; Lloyd's touchtable; Willis gets Guernsey licence

Carlson Capital has indicated its willingness to listen to offers for Lloyd's carrier Barbican and is working with prolific sell-side advisor Evercore to explore its strategic options, The Insurance Insider can reveal.

At a recent event hosted by this organisation a prominent scientist made an interesting observation based on detailed analysis of the best historical data on extreme windstorm events.

The total loss to Zenkyoren's $7bn-limit reinsurance programme has turned attention to the exposed private layers sitting above the 935bn yen ($11.8bn) open market cat programme.