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  • A brief examination of the 1 January reinsurance renewal could be misread as an incrementally positive step in the recovery of underwriters from their soft market ills.
  • Reinsurers are preparing to dig in for two or three years of deteriorating results, as the 1 January renewals look set to mark the last meaningful erosion of rates following years of significant compound reductions.
  • The UK data protection regulator has fined RSA £150,000 ($182,943) following the 2015 theft of a hard drive containing 60,000 customers' names and bank account details from an RSA building.
  • Estimated Floridian insured losses from Hurricane Matthew have risen over 10 percent to $803mn, according to the Florida Office of Insurance Regulation.
  • Pioneer Underwriters has launched a miscellaneous, technology and cyber liability unit under the leadership of former Ace executive David Lucey, who becomes vice president.
  • UK-headquartered managing general agency Pen Underwriting has hired Paul Crilly as its new head of solicitors' professional indemnity lines
  • Premia Re, the new run-off reinsurance vehicle led by former Chubb exec Bill O'Farrell and backed by Arch, has confirmed its formation by announcing a $510mn capital raise.
  • XL Group has warned investors to expect net catastrophe losses of around $245mn when the (re)insurer publishes its results for the fourth quarter.
  • Standard & Poor's (S&P) has confirmed its preliminary A- rating for the recently formed subsidiary of state-owned French reinsurer Caisse Centrale de Réassurance (CCR)
  • Former Woodruff-Sawyer & Co CEO Charlie Rosson has been made senior vice president at Ryan Specialty Group (RSG), the wholesale broker and underwriter announced today