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November 2013/1

  • New Europe-wide data legislation, which will require companies to be more stringent in the way data is shared between offices, according to global broker Marsh
  • Credit Suisse Asset Management has hired former Aon Benfield retro broker Nicky Payne for a new role as head of origination, sister publication Trading Risk revealed last month
  • Shares in American International Group (AIG) have clawed back some of the ground lost in the 1 November post-results sell-off, as investors reassess the outlook for the company.
  • Montpelier Re plans to raise $125mn from the initial public offering (IPO) of Blue Capital Re, according to an updated prospectus filed with the Securities and Exchange Commission
  • Bermudian reinsurers received more support from reserve releases during the third quarter of 2013 than they did in the same period last year, according to The Insurance Insider's Data Room
  • Share repurchases among Bermudian (re)insurers were uneven in Q3, with some carriers opting to rein in buybacks while others took a more aggressive stance
  • The latest commercial lines surveys from CIAB and MarketScout provide further evidence that pricing momentum is slowing
  • (Re)insurers will not abandon the more diversified investment strategies they have adopted in recent years, even if interest rates return to historic norms and investment-grade fixed income assets become more attractive
  • The relationship between Asian (re)insurers and Lloyd's and the London market is becoming increasingly symbiotic as parties from both sides seek strategic partnerships
  • Reinsurers, already fighting the intrusion of capital markets into core property cat markets, are being hit by a series of premium reductions from casualty reinsurance markets
  • QBE narrows profit forecast; RSA slump; Hannover Re on track; ANV appoints; Argo beats; JLT in line...
  • The balance of power in aviation insurance remains firmly in buyers' favour as the market gears up for its peak policy renewal season over the next eight weeks, according to global (re)insurance broker Willis.
  • Endurance has hired former Alterra executive Doug Worman to head up its US insurance division as it continues to build out its primary operations globally, The Insurance Insider revealed last month.
  • At least seven of the biggest marine P&I clubs have now confirmed they are increasing 2014 premiums
  • The CEO of Zurich Insurance's centrally managed business (CMB) Patrick Tiernan has left to join Enstar, The Insurance Insider understands
  • Two new pieces of guidance proposed by the Prudential Regulation Authority (PRA) could drive "sensible, viable and profitable businesses" away from the EUR45bn UK legacy market, industry experts have warned
  • The People's Insurance Company of China (PICC) has trumpeted its new status as a major player in the international (re)insurance space by lining up alongside Berkshire Hathaway to participate in Willis' long-meditated follow-form facility
  • Klaus Endres has left his position at Axa Liabilities Managers (Axa LM)
  • The continued strength of demand from multinational cedants for aggregate catastrophe cover has been demonstrated by both Axa and AIG deciding to purchase sizeable sideways covers on a global basis, The Insurance Insider can reveal...
  • In a highly unusual development, the normally circumspect reinsurer was forced to justify its legacy claims-paying record
  • The ABI said it is the "end of the beginning" for Solvency II amid mounting expectations that EU governments will shortly reach a final agreement on the long-delayed new capital regime for insurers
  • A survey of industry professionals found that over two thirds believe terrorism coverage would decrease or completely disappear if the US government were to allow the federal backstop provided by the Terrorism Risk Insurance Act (TRIA) to lapse
  • Insurers have rallied against a proposal from the House of Representatives to stall the implementation of the Biggert-Waters Flood Insurance Reform Act
  • Treaty reinsurers will escape almost entirely unscathed from the European windstorm that has been variously dubbed Christian and the St Jude's Day storm, it is understood.