June 2014/1

Reinsurers could be liable for the majority of claims stemming from damage to Taiwan-backed companies during the recent anti-China riots in Vietnam, according to reports.

The (re)insurers of the Costa Concordia are awaiting loss advice showing a further deterioration on a total claims burden that already stands at more than $1.6bn, after the removal of the wreck was once again delayed.

QBE Europe international liability portfolio manager Tim Butcher has resigned from the organisation, The Insurance Insider can reveal.

ISS Proxy Advisory Services raised "significant concerns" over Endurance chairman and CEO John Charman's executive remuneration in a report before the 21 May shareholders' meeting that voted against executive pay packages at the Bermudian.

Swiss-based specialty property and engineering insurer Infrassure is in the advanced stages of a sales process that could see the privately owned firm lose its independence before the end of the year, The Insurance Insider can reveal.

A shadow has once again been cast over the future of Sunshine State Insurance Company (SSIC) after United Insurance Holdings (UIH) pulled out of a deal to buy the Florida homeowners' insurer from reinsurance broker US Re last week.

The rapidly evolving reinsurance market means that further Bermuda consolidation is inevitable, with potential buyers in a stronger position than sellers, according to Nomura analyst Cliff Gallant.

Hamilton Insurance Group CEO Brian Duperreault has opted not to pursue a bid for in-play Bermudian carrier Aspen, The Insurance Insider can reveal.

Leading cat underwriter RenaissanceRe has stopped actively pursuing the placement of its major $275mn Floridian retrocession deal, The Insurance Insider understands.

Fierce competition has spread to the US property proportional reinsurance market, with incumbent quota share writers facing increased appetite from other traditional players and ceding commissions being pushed up, The Insurance Insider has learned.

Shares in AmTrust fell steeply on 2 June after Barron's, the respected magazine for private investors, subjected the US insurer's accounting practices and capital reserves to fresh scrutiny.

Endurance CEO John Charman has issued a call to arms to Aspen's shareholders, urging them to force the company's board to come to the table to discuss its second offer to acquire the firm.