March 2013/3

The quoted London market (re)insurers grew their gross written premiums (GWP) by an average of 8 percent during 2012, taking the total to around $15bn, data compiled by The Insurance Insider shows.

The pre-tax profits of the quoted London market (re)insurers improved in 2012, driven by lower catastrophes but also by improved technical underwriting returns.

Executives of a number of smaller Lloyd's businesses have privately expressed their dismay and indignation about the deal Berkshire Hathaway has struck to write across Aon's retail book.

Berkshire Hathaway's mammoth Lloyd's co-insurance deal with Aon is the most visible demonstration yet of reinsurance supremo Ajit Jain's significant strategy change from being an in-and-out opportunistic capital provider for distressed buyers to a consistent through-the-cycle counterparty.

Darren Stockman, the long-serving underwriter at Advent's Syndicate 780, is to step down later this year as the Fairfax-owned business continues to restructure following the recent retirement of its founder and legendary Lloyd's underwriter Brian Caudle.

Towers Watson has gathered further evidence of a hardening directors' and officers' (D&O) insurance market in North America, with price rises most significant in the private/not-for-profit segment.

The fast-growing independent broking group RK Harrison (RKH) reported a 28 percent increase in pre-tax profit to £15.8mn for the year ended 30 June 2012, as the acquisition of high net worth UK broker Mercury West Associates was bedded in.

The low yield investment environment and the possibility of increased inflation in the future are making it difficult for the (re)insurance sector to achieve its cost of capital.

Leading UK medical defence organisation the Medical Defence Union (MDU) will no longer provide its members with a commercial insurance policy after deciding to end its existing contract with Scor, our sister title Inside FAC revealed last week.

Simon Fascione looks set to re-enter the market at Bermudian fund manager Aeolus after his surprise resignation from Lancashire, it is understood.

The Qatar Financial Centre Authority (QFCA) called for final offers for Qatarlyst ahead of a board meeting this week to decide the electronic placement platform's future, The Insurance Insider has learned.

Tower moves offshore; Torus and backers consider options; AmTrust expands Italian med-mal; Swiss Re seeks Francis; ASI mulls sale; Aviva ratings on review; Hurst-Bannister adds XCS role; Hiscox bonuses tripled; Interim SII measures opposed; Esurance dispute goes to arbitration; BP can access Transocean's cover; No Spitzer disclosure for Marsh; AIG $11mn regulation bill; Cat bonds for depops?; Norris gets set for Netsett