• X
  • LinkedIn
  • Email
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
  • Email
Insurance Insider is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

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
  • Top-line growth for London-listed carriers quickly decelerated in the first quarter of 2014, as mounting competition and softening rates burdened the peer group.
  • Florida cat bond Sanders Re (2014-2) will provide Allstate subsidiary Castle Key with indemnity protection for losses from all natural perils.
  • USAA's US multi-peril bond Residential Re (2014-1) will close in the middle of its initial target range of $100mn-$150mn at $130mn.
  • A quartet of cat bonds closed at the end of last week, raising their sponsors a total of almost $730mn in protection against Japanese, US and Florida-specific risks.
  • UK insurer Saga's IPO was lukewarm late last week and so was the Floridian insurer Heritage Insurance Holdings, which raised just $66mn from its IPO on the NYSE as pricing of its shares came in below expectations
  • Swiss Re has handed capital back to investors in Sector Re after a brief expansion of the sidecar in 2013.
  • QBE Insurance and Australian specialist insurer Assetinsure, soon to be acquired by Ironshore, have exposure to the major surety claims stemming from the Forge Group collapse earlier this year.
  • The loss reserve for the liability portion of the Malaysia Airlines claim has been set at $380mn, comfortably exceeding expectations, The Insurance Insider revealed last week.
  • London-listed Lloyd's carrier Amlin plc is reorganising to create a new tripartite structure, which will include a global reinsurance division led by Kevin Allchorne.
  • Mexican state-owned energy giant Pemex is undergoing a revamp of its insurance purchasing that could lead to a change its main broker and alter its energy programmes, sister publication Inside FAC revealed
  • Guy Carpenter's head of business intelligence David Flandro has resigned to join JLT Towers Re, where he is expected to lead JLT Towers Re's strategic advisory business
  • Endurance chief operating officer Catherine Kalaydjian has left the Bermudian carrier after more than a decade, The Insurance Insider revealed last week.