June 2013/4

David Cash disposed of his entire 1.25 percent stake in Endurance for almost $24mn within two weeks of John Charman arriving at the helm of the Bermudian.

Most company insiders at Bermudian (re)insurers continued to buy stock in their organisations in the second quarter

Credit Suisse insurance-linked securities (ILS) manager Niklaus Hilti estimated that the ILS market offers about $32bn of limit in a recent presentation summarised by Credit Suisse analyst Michael Zaremski.

P&C reinsurers are unlikely to make short-term gains by developing third-party fund platforms because the management fees involved will not be sufficient to fully offset the impact of pricing pressures on property catastrophe reinsurance rates

Investors have oversold the blue-chip Lloyd's and London market stocks on exaggerated fears of falling US property cat reinsurance pricing

AIR Worldwide has estimated that insured losses from flooding in Germany could range from EUR3bn to EUR5.8bn ($4bn-$7bn), notably higher than the early loss estimates

Insurers have paid $562mn in claims stemming from the severe storms and tornadoes that wreaked havoc across the state of Oklahoma during May, according to the state's insurance department.

Global marine insurance markets are continuing an anxious wait for new intelligence on the condition of the containership MOL Comfort, which broke in two in the Arabian Sea on 17 June.

Stephen Howard has returned to his former role as head of European investment banking at KBW following the departure of a number of his colleagues

Private equity firm First Reserve has declined requests for exclusivity from Torus bidders Enstar and ANV as it looks to avoid the execution risk associated with long periods of exclusive talks

Almost 1,300 UK solicitor policyholders have been given the chance to swap their professional indemnity (PI) cover from the now unlicensed Latvian insurer Balva to another unrated entity, Berliner Versicherung.

Thailand's National Catastrophe Insurance Fund (NCIF), the state-backed reinsurer set up to backstop insurers in the wake of the devastating 2011 floods, took in 465mn baht ($15mn) in premiums in the 14 months to May, it revealed in a statement today (24 June).