October 2015/4

The cat bond market could be set to make its biggest payout since 2011 as a result of Hurricane Patricia, which hit Mexico as a Category 5 hurricane last week.

Loss estimates from the Tianjin explosions in August have continued to trickle in over the past week, with another two carriers making announcements.

Insurance-linked securities (ILS) fund manager Credit Suisse Asset Management (CSAM) now has a second rated platform to draw on following the launch of Humboldt Re last week.

Asia Capital Re (ACR) has received approval from the China Insurance Regulatory Commission (CIRC) to establish a representative office in Shanghai, The Insurance Insider can reveal.

Patria Re's in-principle approval from Lloyd's to establish a special purpose syndicate (SPS) has again highlighted the shift in how the Corporation brings new entrants into the market.

Despite warnings from Baden-Baden of mounting pricing pressure at 1 January, US reinsurers remain confident that the stabilisation that began to emerge at mid-year renewals will continue as negotiations gather pace at PCI this week.

The message from Europe is clear: prepare for high single-digits price falls and less reinsurance to be bought on wider terms...

There are signs of emerging demand for casualty reinsurance as insurers are drawn back to the market by attractive buying conditions at a time when pressure is growing on their underlying books of business.

Lloyd's carrier Novae has sold its agricultural reinsurance team and the renewal rights to the £51mn ($78mn) portfolio to Ironshore, as it continues to reduce its exposure to reinsurance business.

Specialty (re)insurer Fidelis announced a string of senior underwriting appointments today (26 October), including the hire of XL Catlin's Nick Burkinshaw as chairman of specialty.

Lawyers have warned that a new film starring Will Smith is expected to boost public awareness of sports-induced head injuries, which could create a problem for run-off carriers.

American International Group (AIG) has reorganised its commercial insurance business in a move that will also see a realignment of its specialty product lines, The Insurance Insider can reveal.