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Fema prepares to review thousands of Sandy claims

The Federal Emergency Management Agency (Fema) has agreed to reopen and review around 144,000 flood insurance claims filed by victims of Superstorm Sandy, amid suggestions that some claims were handled unfairly.

16 March 2015
Third Point Re defends ‘real’ reinsurer status

Third Point Re's chief financial officer has maintained that the vehicle is a "real" insurer rather than a means of enabling hedge funds to benefit from tax advantages, as the US Internal Revenue Service (IRS) considers tightening its guidelines.

Jenny Messenger, 16 March 2015
Lloyd’s welcomes Indian insurance bill

Lloyd's last week (13 March) welcomed the passage of a bill that will enable it and other foreign reinsurers to establish onshore branches in India.

Jenny Messenger, 16 March 2015
London market hopeful ahead of 2015 budget

Representatives of the London (re)insurance market are optimistic that the UK Chancellor of the Exchequer will include significant provisions for the sector in this year's budget, which is scheduled for 18 March.

Jenny Messenger, 16 March 2015
Navigators takes on DoJ over information request

Specialty insurer Navigators has filed a complaint and demanded costs from the US Department of Justice (DoJ) for withholding documents about an insured for more than 18 months.

Charlie Thomas, 16 March 2015
RSA exec denies firm knew about reserving issues: report

RSA group general counsel Derek Walsh has denied former executive Philip Smith's claims that the UK multi-line insurer knew about the misuse of reserves at its Irish subsidiary.

Jenny Messenger, 16 March 2015
Global reinsurers continue to suffer from rising expenses in Q4

Despite a largely benign catastrophe environment, global reinsurers delivered varied underwriting performance for the last quarter of 2014 as they faced growing expenses and thinning reserve releases.

Himal Patel, 16 March 2015
Market conditions weigh on global reinsurers’ top lines

Global reinsurers' top lines came under pressure in 2014, as the group altered their portfolios in light of a deteriorating marketplace.

Himal Patel, 16 March 2015
Rating for Knighthead life insurance hedge-fund start-up

AM Best has given a B++ financial strength rating to Knighthead Annuity & Life Assurance Company, an annuity insurer launched by distressed debt investor Knighthead Capital Management.

Fiona Robertson, 16 March 2015
Safepoint launches debut bond

Florida insurer Safepoint Insurance Company is sponsoring its first cat bond, Manatee Re, according to sources.

Fiona Robertson, 16 March 2015

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