June 2014/5

By Validus's standards its successful pursuit of Western World looks to have been relatively straightforward and pain-free.

Rates for US commercial P&C insurance business are continuing to waver as the midpoint of 2014 approaches, according to a mid-year buyers' survey conducted by Barclays analysts.

Investors in the insurance-linked securities (ILS) sector are likely to get increasingly close to underwriters and cedants, according to panellists at the International Insurance Society's 50th annual seminar on 24 June.

Transatlantic Holdings has increased its ownership stake in Bermudian fund manager Pillar Capital Management to 50 percent and extended its commitment to invest capital in Pillar funds, the Alleghany subsidiary announced last week.

Munich Re's withdrawal of its new Queen St cat bond showed that the insurance-linked securities (ILS) market was either reaching a pricing floor or limit on capacity for US nationwide or multi-peril risks, said Leadenhall Capital Partners CEO Luca Albertini.

Florida's Citizens Property Insurance Corporation cited its ability to access additional private reinsurance at a lower cost as it approved 2014 rate cuts for nearly 70 percent of its policyholders last week.

Up-for-sale carrier Infrassure has secured a cut-through reinsurance facility with PartnerRe aimed at defending the large proportion of its business that is at risk of cancellation following its downgrade by AM Best, The Insurance Insider has learned.

Interest rates are unlikely to rise significantly in the near term, Daniel James, chief investment officer at Aviva Investors, told attendees at The Insurance Insider's CFO Forum last week (26 June).

Rating agency Moody's last week downgraded the credit rating of loss adjuster Cunningham Lindsey, citing concerns that an absence of natural catastrophe losses will reduce claims volumes, denting the company's revenues and profit.

Scor chief executive Denis Kessler called for an end to the current run of low interest rates during a panel discussion held at the International Insurance Society's 50th annual seminar last week.

UK-based legacy business Compre has been put up for sale by majority private equity owner Milestone Capital, The Insurance Insider can reveal.

The transformation of raw data into market intelligence is becoming ever more crucial for the (re)insurance industry, according to Aon CEO Greg Case.