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October 2012/5

  • The open year of Lloyd's insurer Jubilee's run-off motor business is being brought to market to seek a reinsurance to close transaction at year-end, The Insurance Insider understands.
  • As the airline insurance market prepares for the major Q4 renewals, it is understood that brokers are using a 10 percent risk-adjusted discount as a starting point for negotiations
  • The volume of companies in liquidation in the US represents a "golden opportunity" for the run-off market, but the country's fragmented state-by-state regulatory system is hampering progress.
  • The long-anticipated overhaul of the National Flood Insurance Program (NFIP) is waiting on the too-close-to-call US presidential election result, but reinsurers could benefit from additional business being ceded in 2013.
  • The head of XL's professional liability practice in Europe, Bill Walton, has left the firm, The Insurance Insider understands
  • Global regulators are introducing ever-higher systemic targets for capital requirements that could exacerbate firms' tendency to place buffer upon buffer of capital above statutory levels.
  • The FSA is urging the industry to provide forward-projecting income and risk profiles, in the likelihood of a persistent low interest rate and low growth economic environment.
  • UK banking group Barclays' primary directors' and officers' (D&O) cover is set to renew up 10-15 percent amid a hardening financial institutions (FI) market, according to market sources
  • Lloyd's has given a positive spin to the likely Solvency II delay and highlighted the benefits of having extra time for regulators and policymakers to eliminate unnecessary elements and realign over-ambitious provisions.
  • A loosening of terms and conditions and an expansion of the coverage being offered to buyers of UK commercial D&O insurance is symptomatic of an ultra-soft market, market sources have told The Insurance Insider
  • PartnerRe has appointed Hervé Castella to lead its capital markets operations and added to his team with a new hire.
  • Investors seeking property cat risk are turning to capital markets reinsurance vehicles because the traditional benefits of investing in reinsurance equity are not working.