July 2017/5

Two reinsurer sidecar vehicles have not been renewed in 2017 as Scor and PartnerRe each decided they no longer needed retrocession cover in this format, sister publication Trading Risk revealed last week.

Reaction to the UK government's insurance-linked securities (ILS) regulations released last week has been positive, with market participants saying their concerns about earlier draft proposals had been noted and the end result was a framework they could work with.

P&C (re)insurers experienced a relatively benign quarter in terms of natural catastrophe events, though recent company disclosures have dented more bullish assumptions about related losses.

US commercial P&C rates continued their upward trajectory in the second quarter, according to bellwether insurer Travelers.

Brexit and a new catastrophe insurance scheme for developing countries dominated the agenda at the International Insurance Society (IIS)'s Global Insurance Forum in London last week, as executives gathered to discuss the future of the industry.

The mean cost of premiums for UK solicitors' professional indemnity (PI) cover dropped by 1.3 percent last year, according to The Law Society.

London market insurers are collectively missing out on more than £200mn ($260mn) in historic loss funds, according to insurance services firm Ambant.

Darag replaces CFO; Kaikoura claims reach $1.4bn; Hannover Re Argenta deal; No Novae bid from Validus; Beazley Europe expansion; Elms leaves XL; Lloyd's MTE support; Generali Colombia sale; Allstate $993mn cat losses; RLI beats Q2 consensus; Donegal cats bite; US Risk MGA deal; Beazley Asia FI; Arch joins Plug and Play; IAG Australia restructure

Newline Group's London head of commercial directors' and officers' (D&O) business and its head of financial lines have both left the company, according to market sources.

Who would be a D&O underwriter?

The London directors' and officers' (D&O) market is facing a claim of around $26mn following a settlement by Australian law firm Slater and Gordon with its shareholders.

Talbot has taken over QBE Europe's role leading North American business for one of the largest facilities in the terrorism market, The Insurance Insider can reveal.