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ECJ ruling means extra sales tax costs for insurers
European insurers will be subject to extra value-added sales tax charges, which could cost hundreds of millions of pounds in the UK alone, following a ruling from the European Court of Justice (ECJ) last week (17 September).
22 September 2014
PPL has ‘one-off’ London e-placing opportunity
London market technology contracting entity the Placing Platform Ltd (PPL) board has a "one-off" chance to create a single electronic placing platform for the London market, according to a communication seen by The Insurance Insider.
22 September 2014
Axa and IFC to drive emerging markets coverage
The International Finance Corporation (IFC) and global insurer Axa have formed a partnership to help expand insurance coverage in emerging markets, the firms announced today (22 September)
22 September 2014
Treasury looks to close hedge fund tax loophole
The US Treasury is considering tightening up its regulation of hedge fund-backed reinsurers following calls from lawmakers to address alleged tax avoidance.
22 September 2014
AmTrust receives demands from New York DFS
The New York State Department of Financial Services (DFS) has issued a list of requirements to Nasdaq-listed insurer AmTrust following the approval of ACP Re's merger with Tower Group, a Securities and Exchange Commission document revealed last week (16 September).
22 September 2014
Sandy events not as rare as previously presumed: Swiss Re
While the current North Atlantic hurricane season has been largely quiet to date, a recent study from Swiss Re has demonstrated why (re)insurers shouldn't become complacent.
22 September 2014
Brokers vs Reinsurers
The tone at last week's Monte Carlo Rendez-Vous was the bleakest for a number of years, with both reinsurers and brokers contemplating the consequences of reduced demand, falling prices, low interest rates and excess capacity...
22 September 2014
S&P puts MultiCat Mexico on negative credit watch
Standard & Poor's (S&P) has placed the Class C notes of MultiCat Mexico 2012 on creditwatch negative due to potential exposure to Hurricane Odile.
22 September 2014
Hannover Re restructures as head of retro retires
Hannover Re has combined its retrocession and capital markets divisions following the retirement of Trevor Bolt, who previously headed up the firm's group protections unit.
22 September 2014
$900mn+ bill expected from Odile
The Mexican Association of Insurance Institutions has estimated that insured losses from Hurricane Odile are likely to exceed the 12bn peso ($906mn) loss sustained from hurricanes Manuel and Ingrid last year.
22 September 2014
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