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Amtrak fights insurers over $500mn+ Sandy bill
Amtrak is suing a number of insurers for failing to fully pay a bill estimated at over $504mn for losses caused by Superstorm Sandy.
29 September 2014
P&I clubs seeking pool retention of $100mn: Tysers
The protection and indemnity (P&I) clubs within the International Group (IG) are aiming for an overall pool retention of $100mn on the vast reinsurance treaty they buy, according to a sector report from independent Lloyd's broker Tysers.
29 September 2014
Hull war market capacity at 175%: Willis
Capacity levels in the aviation hull war market stand at 175 percent, global broker Willis said last week (25 September).
29 September 2014
Lloyd’s H1 profits gain from investments but underwriting outlook subdued
Lloyd's last week reported a 21 percent jump in first half pre-tax profits to a five-year high of £1.67bn, as investment returns recovered to more historic levels
29 September 2014
Alternative capital could take more than half of cat market
Alternative capital could take a 50 percent or greater share of global property cat limit in the future as the insurance-linked securities investor base continues to grow, according to Fermat Capital managing principal Brett Houghton.
29 September 2014
Brokers look to EBC and wealth management for growth
Medium-sized insurance intermediaries are increasing seeking to diversify their income streams by venturing into new business areas, including employee benefits consulting, senior broking sources have told The Insurance Insider.
29 September 2014
ARC to issue climate bonds
The Africa Risk Capacity (ARC) agency has revealed plans to set up a multi-year platform targeting over $1bn in issuance of African climate change catastrophe bonds over the next 30 years.
29 September 2014
DCG Iris shareholders vote for wind-up
DCG Iris shareholders voted unanimously to wind up the closed-ended insurance-linked securities (ILS) fund during an extraordinary general meeting on 24 September.
29 September 2014
ILS funds eye $500mn TWIA issuance
Final pricing was reached for a new $500mn issuance of municipal bonds that will act as a layer of catastrophe funding for the Texas Windstorm Insurance Association (TWIA), sister publication Trading Risk reported last week
29 September 2014
Nephila receives $50mn IBM investment
Technology giant IBM's UK pension scheme committed $50mn to invest in Nephila Capital's Iron Catastrophe Fund at the start of this year, according to its most recent annual report.
29 September 2014
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