May 2013/3

The global P&C market will expand by 50 percent to EUR1.85tn over the next eight years, fuelled by rampant economic expansion and the growth of the middle classes in emerging economies, according to the industry's largest reinsurer.

Amlin grew its top line by 7 percent during the first four months of the year, falling short of the 11-12 percent growth reported by its fellow quoted peers Beazley, Catlin and Hiscox, all of which based their interim reports on the first quarter alone.

Bermuda-headquartered White Mountains is the latest (re)insurer to enter the convergence arena by unveiling a new capital markets division through its reinsurance arm Sirius International.

Marsh called a London market meeting last week to discuss the Rio Tinto mine collapse in April, which is now expected to lead to a near $1bn loss for mining insurers to make it the worst-ever hit to the market.

The tornado season has been unusually quiet this year but that will provide little comfort to millions of Americans who were affected by a brutal storm system that stretched across Texas and the Midwestern states last weekend.

The UK P&I club is on risk for the cost of the Jolly Nero container ship crash in the Italian port of Genoa, The Insurance Insider has learned.

ANV has struck a deal to sell a book of former Flagstone Re business written out of New York to Tower Group, The Insurance Insider understands.

Up to four parties remain in due diligence with the specialty insurer Torus ahead of the 31 May deadline for final bids, The Insurance Insider understands.

Although the presence of additional capacity on large property placements will inevitably add a competitive dynamic for existing property underwriters, Chinese entrants are not bringing ill-discipline to the sector, according to Marsh's US property practice leader Duncan Ellis.

Chinese carriers are taking significant participations on large US and global property programmes as they look to diversify exposures and grow their premium bases.

Lloyd's is planning to boost its Lloyd's China outpost by expanding its Beijing back office into a full underwriting platform.

The near-legendary QBE Syndicate 386 has again surged ahead on forecast profit margins, revealing an expected average profit of just over £95mn for the 2011 year of account (YoA).