November 2013/4

AIG is taking another shot at adding to its innovative Tradewynd Re cat bond cover, as the insurance heavyweight commits to giving investors more information on the complex portfolio of risks that are securitised in the structure

Investor appetite for cat bonds continues unabated as the latest Residential Re (2013-2) cat bond sponsored by veteran issuer USAA has priced at the lowest end of marketing guidance and is set to close at $150mn, we can reveal...

New York-listed insurer Ace has delivered a vote of no confidence in the P&C market by shedding its previous aversion to share buybacks and planning to return $1.5bn of capital by the end of 2014.

While prospects for workers' compensation insurers appear to be "brightening", AM Best has warned that the business will remain challenged as a widening reserve deficiency puts a drag on underwriting profitability.

Last week, Bermudian reinsurer Maiden outlined plans to refinance its trust-preferred securities (TRUPS), a source of capital that has dragged on earnings but been a boon to its founding investors. We look at the background and analyse the impact on the reinsurer's book value...

Equity analysts are raising their full-year profit forecasts for the listed Lloyd's (re)insurers as another benign North Atlantic hurricane season is set to end officially this week (Saturday) and with relatively modest cat losses elsewhere

October's Typhoon Fitow looks likely to become the second most expensive insured loss ever to hit China with an estimated bill of $1bn, it is now understood.

The loss-affected second and third layers look set to become the key renewal battlegrounds for the 2014-15 International Group (IG) reinsurance renewal, after a further deterioration in the Costa Concordia loss wiped out the former and brought the latter into play for the first time.

American International Group (AIG) has agreed to provide backing for specialty excess of loss (XoL) reinsurance MGA Tamesis Dual in a deal that will add £15mn-£20mn to the vehicle's 2014 capacity, The Insurance Insider understands.

Three-and-a-half months after the scheduled release date, Tower Group finally reported its second quarter results after markets closed on 22 November, revealing a $507mn net loss and the virtual halving of NTAV

Argo Group is continuing to reshuffle its senior management, with Matthew Wilken taking over from Andrew Carrier as president of its Bermuda-based property cat reinsurance operations, The Insurance Insider revealed last week.

Dominic Christian, executive chairman of Aon Benfield International and CEO of Aon UK, has been elected unopposed to the Lloyd's Council for a three-year term beginning in February 2014.