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  • Hannover Re continued its pioneering ILS legacy with the launch of its $60mn sidecar-style vehicle Fac Pool Re - the first dedicated, securitised facility for facultative exposures.
  • Further evidence of the turnaround in market conditions for airline insurance has emerged in December - the busiest month for renewals in the sector - with around two thirds of the 19 programmes renewed so far showing...
  • Aon Benfield maintains that US property cat reinsurance rates will be flat to 5 percent down at mid-year renewals, despite mounting pressure from Q1 catastrophes and model changes
  • US insurer Assurant Inc has seen its base reinsurance premiums increase from $141mn to $185mn for its 2009 property catastrophe reinsurance programme, but has also significantly increased the protection available.
  • After a turbulent year for the primary sector, aviation reinsurance pricing increased by up to 12.5 percent at the key 1 January renewal, according to Aon Benfield.
  • A dissenting minority of US policyholders have delayed the proposed scheme of arrangement for Audley Gilroy-owned discontinued insurer Scottish Lion, as a UK court stayed proceedings until 8 January 2010, The Insurance Insider can reveal.
  • Spanish (re)insurer Mapfre reported a 5.2 percent slide in year-on-year net profits for the first nine months of 2010 to EUR704.5mn, although revenues grew over the period by 9.2 percent to EUR15.7bn ($21.7bn).
  • The build-up to the renewals season was marked by calls at conferences across London for pricing discipline, underwriting profit and an end to gearing by under-reserving. Former Morgan Stanley analyst Alice Schroeder kicked off the season on 3 November
  • Firms cannot afford to be ignorant of data protection rules and information security issues given the harder line taken by UK and European Union regulators, lawyers have warned.
  • Standard & Poor's (S&P) has granted AAA ratings to Berkshire Hathaway's start-up bond insurer.