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May 2014/4

  • In contrast, the island's dedicated cat specialists responded to market conditions by returning more capital to shareholders in Q1, research by The Insurance Insider's Data Room demonstrates
  • A look-up table for The Insurance Insider's universe of P&C (re)insurers
  • Former senior Beecher Carlson executives Bret Quigley and Adam Meyerowitz have secured up to $200mn of private equity backing to launch Prime Risk Partners, a consolidation platform to roll up US insurance brokers.
  • AmTrust's share price hit an all-time high of $47.10 last Thursday (22 May) as the carrier closed up 4.44 percent for the week.
  • A UK appeal court gave a fillip to the industry last week when it said the Metropolitan police - and not insurers - were liable for Sony business interruption losses
  • Despite no "smoking gun", the FCA is warning UK brokers about conflicts of interest over channelling SME business into arrangements such as MGAs
  • Bank of England (BoE) governor Mark Carney warned UK (re)insurance executives that they will be held to account for decisions that harm policyholders in the same way as errant bankers, in a sign that the bank is taking a more aggressive approach to regulating the sector.
  • A draft bill that would renew the Terrorism Risk Insurance Act (Tria) for only three years and increase the insurance industry's contribution should be released in June, its Republican sponsor has said
  • Insurance industry trade bodies have backed a series of bills intended to clarify the federal requirements imposed on insurers that fall under the supervision of the Federal Reserve as part of the 2010 Dodd-Frank Act.25
  • Average rates for US and international directors' and officers' (D&O) business increased for the third year in a row in 2013, according to an annual survey conducted by a subsidiary of London-listed broker Jardine Lloyd Thompson (JLT).
  • Competitive pressures have spread to the US casualty market according to broking heavyweight Marsh, after average rate increases for umbrella and excess liability lines continued to moderate in the first quarter.
  • Despite the surfeit of capital, paucity of cat losses and increasing pressure on pricing, Bermudian (re)insurers were cautious in returning capital to shareholders during the first quarter of 2014