May 2013/2

The cash-strapped Co-operative Group is putting its non-life UK insurance arm, the Co-operative Insurance Services (CIS), up for sale as it looks to realise capital in order to plug an estimated £750mn hole in its finances.

Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers

(Re)insurance carriers' thirst for big data and analytics has put the industry on the verge of a "tipping point" that will rapidly change the way business is done in the sector, according to RMS CEO Hemant Shah.

Fairfax Financial Holdings has seen its run-off segment fall to a $14.1mn pre-tax loss in the first quarter compared to a pre-tax income of $53.8mn in the prior-year period.

The acquisition of American Fuji Fire and Marine Insurance Company added $6.9mn to White Mountains' first quarter revenue, the (re)insurer revealed in its results last week.

Enstar Group has increased its gross reserves from $3.7bn at the end of 2012 to $5.4bn after closing two major acquisitions in the first quarter.

American International Group (AIG) is now free to pursue its $7bn+ mortgage securities-related fraud claims against Bank of America following a ruling in a California district court last week.

The deputy governor of the Central Bank of Ireland has expressed a "long-standing concern" over current EU plans to allow insurers to devise their own internal models.

Standard & Poor's (S&P) has released a major update to its ratings criteria for insurance companies in a move that it says will provide a more transparent view of how it assesses the sector.

Insurance costs for coastal homeowners' property could be reduced by 20 to 35 percent if the US government made it compulsory for mortgage holders to purchase earthquake cover, according to Aon Benfield's chief strategy officer Bryon Ehrhart.

A proposal to end tax breaks on intra-group reinsurance transactions has been branded "terrible policymaking" at The Insurance Insider's InsiderScope event in New York.

A bill to extend the US government's terrorism insurance programme (Tripra) for a further 10 years has been introduced to the House of Representatives.