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  • Bermudian reinsurers were “stirred, but not shaken” by 2004’s unprecedented hurricane and typhoon season, with return on equity down just 5.8 percent on 2003’s figure, according to the latest Benfield Bermuda Quarterly report.
  • Sluggish rates, surplus capacity and depressed market valuations are deterring private equity from investing in the P&C (re)insurance sector, so the new $150mn investment by Corsair Capital is particularly notable.
  • Aioi joins fellow insurer Nissan in attacking the Sabbah and Kornfeld “cash machine” Japanese insurer Aioi has accused directors of the Fortress Re Pool of "intentionally looting" the assets of its sister operation, the collapsed captive reinsurer Car
  • Kingsway Financial Services (KFS) returned to the black in the first quarter, despite a net operating loss and its combined ratio ballooning by 30.4 percentage points from a year earlier to 136.2 percent.
  • April proved to be a busy month for AIG as it continued its strategy to offload assets albeit at a slower rate than had been targeted at the time of its initial government bail-out last September.
  • Amlin-backed dedicated ILS investor Leadenhall Capital Partners has launched two $50mn Irish-based funds.
  • Cat bond traders expressed satisfaction with secondary trading liquidity in the immediate aftermath of the 11 March Japan earthquake, with many spying yield opportunities in distressed bond prices.
  • DE Shaw-backed $250mn start-up gets A- rating; AM Best affirms New Castle Re; Banks consider bond insurer bailout; SCOR free of monoliner exposure...
  • Despite having to write down $27.1mn from sub-prime affected securities, US reinsurer Transatlantic Holdings Inc's 2007 profits were boosted by a stronger investment performance.
  • The satellite (re)insurance market is at its weakest since 2001 despite last week's major Orbcomm settlement.