June 2013/2

Endurance will remain one of the few major Bermudians without a Lloyd's operation under its new leadership, but will look to substantially bulk out its London company market platform.

After 11 years at the head of Axis, there is a widespread expectation that Charman will want to lure some of the team that he assembled there across to his new shop, but it is unlikely to include Jack Gressier, after his employment contract extension today

Writers of property catastrophe reinsurance are going to struggle over the next couple of years due to excess capacity and the deleterious impact of third-party capital

Severe weather events in the US during May will cost insurers $4bn, Aon Benfield's Impact Forecasting unit estimated in its monthly Global Catastrophe Recap report.

The European floods that have impacted Germany and surrounding countries are expected to cause around EUR2.75bn in insured losses with circa EUR1.3bn falling to reinsurers, according to KBW analysis.

Investors' enthusiasm for the insurance sector was demonstrated again last week when Partnership Assurance closed up 17 percent in its first day of trading on the London Stock Exchange on 7 June.

The 1 June hull and machinery (H&M) and increased value (IV) renewal placement for loss-hit cruise operator Costa Crociere has settled with flat nominal pricing on the basis that the insured would not collect a no-claims bonus, The Insurance Insider understands.

Hiscox has appointed Jeremy Pinchin to the new role of CEO of Hiscox Re as it prepares to merge its reinsurance functions in London, Paris and Bermuda into a single business unit.

Senior casualty treaty underwriter Jim Quinn has left Brit Insurance to join Ironshore's Lloyd's subsidiary Pembroke, The Insurance Insider has learned.

The Lloyd's Market Association (LMA) has narrowed down a shortlist of candidates as it proceeds with plans to launch a new shared data capture service dubbed Project Genesis, The Insurance Insider understands.

Improved risk management and pricing discipline from reinsurers means sector investors should forget about waiting for windfall returns in hard markets and accept lower but more stable returns on equity (RoEs), Aspen CEO Chris O'Kane said last week.

Towers Watson has highlighted the impact that cheaper reinsurance is having on underlying US property insurance business.