Reinsurance

Despite early hopes of sizeable rate rises, reinsurers are frustrated that many accounts will renew with as-before terms.

New deals have brought total year-to-date ILS volumes to $2.9bn, pointing to a shrinking of the market.

They say good things come to those who wait.

The carrier is continuing its European expansion following its purchase of two run-off books from Generali.

Congresswoman Maxine Waters has proposed the new law to end lapses in National Flood Insurance Program coverage.

As live carriers shake off last night’s excesses and vow to turn over a new leaf, the run-off market can be there to provide a reassuring pat on the back and a sympathetic ear.

The former RITC syndicate follows a string of other Lloyd’s businesses onto the market.

I spent the early part of last week in Bermuda and, in between running for cover whenever it rained, my days saw me visiting contacts and hearing their thoughts on the current major market talking points.

The closed life insurance unit will be floated on the LSE’s main market.

Along with co-investor MS&AD, the reinsurer will increase the unit’s capital by more than $610mn ahead of listing.

Gregory Murphy said there needs to be greater understanding of reinsurers’ credit risk.

The 1 July placement is an addition to the scheme’s main £2.3bn programme.