May 2013/4

Beazley Group's stock has been downgraded by equity analysts KBW and Westhouse following the Lloyd's (re)insurer's recent stellar performance on the London Stock Exchange.

The US P&C industry's reserve position at the end of 2012 looks stronger than it did a year earlier despite the continuation of releases that provided significant support to earnings, according to recent research from Conning.

The US National Oceanic and Atmospheric Association (NOAA) has added to the estimates of a potentially tough Atlantic hurricane season after predicting an "active or extremely active" 2013.

Although there was succour for cat underwriters with additional demand from standalone Floridians, USAA - a significant writer in the Sunshine State - took $525mn+ out of the traditional market as it downsized its cat programme.

Triggered by the dramatic softening of the cat bond market that began with the Nationwide issuance less than two months ago, US cat reinsurance pricing looks to be on a steep downward trajectory.

It seems there has never been a better time to be a reinsurance buyer in Florida, as the flood of traditional and non-traditional capacity vying for their custom pushes down prices and offers increasingly broad coverage options.

Last week's deadly tornado in Moore, Oklahoma is not expected to impact the reinsurance programmes of the major US nationals, despite the fact that it could rank among the most expensive single tornado touchdowns on record.

Australian mutual insurer the Royal Automobile Club of Queensland (RACQ) has resisted an offer from Berkshire Hathaway to write a 100 percent share of part of its catastrophe programme on a three-year basis, The Insurance Insider can reveal.

The New Zealand Earthquake Commission (EQC) is set to renew its NZ$3.25bn catastrophe treaty without a rate increase following two years in which it absorbed swingeing price hikes, The Insurance Insider can reveal.

Willis 360 will be a groundbreaking facility that looks to bring additional capacity from a significant number of carriers across a broad range of classes, according to Willis Global CEO Steve Hearn.

One of the pioneering aspects of Willis Global 360 is the broker's decision to include a sizeable book of reinsurance business.

Berkshire Hathaway's share of Willis's Global 360 facility will be substantially less than the 10 percent that is being talked about in some parts of the market, The Insurance Insider has learned.