October 2008/1

Offshore energy losses from Hurricane Ike could cost the market over $3bn, it has emerged.

Bermudian reinsurer Harbor Point Ltd is looking to build its London presence after being approved by UK regulator the Financial Services Authority to convert its representative office to a fully licensed branch operation.

QBE parts company with US chief; Allianz invests $2.5bn in troubled Hartford; PARIS RE buys out founding shareholder; Lehman Re in liquidation; NAIC collateral proposals welcomed; New bill refuels US tax debate

Industry Loss Warranty (ILW) prices spiked during the early part of the US hurricane season on the back of large orders in the market from beleaguered (re)insurer XL Capital Ltd.

Specialist environmental inter-dealer broker Evolution Markets has closed its first cat futures trade since launching its new catastrophe derivatives desk in August.

UK run-off acquisition firm Randall & Quilter Investment Holdings plc (R&Q) is upbeat about prospects despite the growing competition in London Market run-off acquisition.

Tawa plc’s share price is now 40 percent lower than its 2007 IPO price as investors responded badly to the firm’s profit slump last month on the back of continuing losses from the bond portfolio of its CX Re subsidiary...

The total volume of capacity traded in Lloyd’s auctions ahead of the 2009 year was the lowest since the process was introduced in 1995, according to members’ agent Argenta Private Capital.

Heavy claims in the first half of 2008 have pushed the US property casualty insurance industry to an underwriting loss of $5.6bn for the period, and a combined ratio above 100.

After a miserable year-to-date for industrial and weather-related losses, (re)insurers’ worst fears following US Midwest flooding in June at least appear misplaced.

The financial markets meltdown – which has led to the rescues of American International Group, Fortis and a capital raising at The Hartford – could have “political consequences” for Solvency II, but experts say...

Lloyd’s (re)insurer RJ Kiln and Co is to form a new syndicate for the 2009 year of account, The Insurance Insider understands.