March 2016/4

Despite suppressed demand for reinsurance coverage in the P&C market and continued oversupply of capacity, global reinsurers successfully found opportunities to expand their portfolios in the final quarter of 2015.

"Beaten up" US consumer auto insurers are set to bounce back after a round of rate increases, amid a backdrop of competitive pricing, Bernstein analysts have found.

Several members of the legal team at Chubb's former head office in New Jersey have been let go in the wake of the carrier's landmark acquisition by rival Ace, The Insurance Insider can reveal.

American International Group (AIG) has promoted Anthony Tatulli to head up its executive liability team as the carrier looks to replace a number of the product leads it has lost amid a mass executive cull.

The British Insurance Brokers' Association (Biba) has said it would like to launch its flood insurance initiative for UK businesses and property owners this summer.

Moody's warns on Solvency II ratios; De Castries retires; Generali unveils CEO; TMK's Lewis departs; Talanx books record 2015 profit; Kessler warns of Brexit ‘disaster'; Exor/PartnerRe closes; African broker opens London office;TMK builds Asian construction; Reinsurer profits near breakeven; Australian cyber terror gap; Channel hires A&H head; JLT exec pay falls; ICA welcomes insurance law review; Flood Re assigned A- S&P rating; Howden Middle East hire; Universal gets New Jersey l

AM Best's revised Capital Adequacy Ratio (BCAR) model has been released for comment, with discussions with carriers likely to focus on the rating agency's updated view on investment and catastrophe risk.

A handful of Florida carriers are looking to reduce their reliance on the state-backed Florida Hurricane Catastrophe Fund (FHCF), which is expected to create more than $900mn of new demand for private cover at this year's June renewals, Trading Risk reported earlier this month.

The California Earthquake Authority (CEA) topped up its traditional reinsurance limit with an extra $175mn placement in December, sister publication Trading Risk reported last week.

The Hartford's bolt-on acquisition of excess and surplus lines (E&S) carrier Maxum Specialty Insurance Group for $170mn in cash will accelerate expansion of the US insurer's small commercial segment, it said last week.

HCC Insurance Holdings has parted company with the head of its excess casualty division Phil Joschko in a restructure as it looks to continue to grow its liability business, The Insurance Insider can reveal.

AmTrust has emerged as the most probable acquirer of ANV as the auction process for the struggling Lloyd’s insurer enters its final furlong, The Insurance Insider revealed last week.