October 2012/3

The US casualty marketplace "feels a lot like the late 1990s" and the immediate period that preceded the last true broad hard market turn, according to Aspen's Rich Aldorisio.

Pockets of the US casualty insurance market remain dislocated, despite significant upward price movements.

Concerns about momentum slowing in the wider US P&C market and the stalling economy mean the much hoped-for lift-off in surplus lines pricing is likely to be delayed.

Allied World's decision to build its alternative investment portfolio around MattlinPatterson could improve the insurer's long-term return on equity (RoE) by a couple of percentage points, group CEO Scott Carmilani told The Insurance Insider

The offshore energy market is experiencing a significant rise in demand as deepwater operators return to the Gulf of Mexico (GoM) and some of the biggest global exploration and production companies develop so-called "mega"' projects that are turning to the commercial market for cover.

Leading insurers in the power market are reconsidering their stance on pricing and terms following a steady rise in large claims, according to Marsh.

The "eye-catching" major hull losses of the past two years such as Costa Concordia have diverted attention away from the more worrying rise in attritional losses, warns Mark Edmondson, marine hull class underwriter for Chubb's Lloyd's syndicate.

The profitability of US and Bermudian (re)insurers fell over the course of the last decade, according to a study by Fitch.

Solid IPOs from UK motor insurer Direct Line and Hannover Re's biggest shareholder Talanx have heartened the host of private equity-owned companies that have had no exit option but a trade sale for years.

Lemma Insurance Company (Ukraine) was downgraded by one notch with a negative outlook by AM Best, following the provisional liquidation of sister company Lemma Europe and a related legal dispute.

The third and final Lloyd's capacity auction took place last week to end a season where volumes were down sharply but pricing nudged up on the most popular syndicates with third party capital.

Most commercial UK insurance buyers expect premiums for property damage and business interruption (PDBI) cover to rise by up to 10 percent over the next two years, according to an Airmic survey.