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Willis: Construction insurance rates soften by 30%
Rates have fallen by up to 30 percent in the international construction and P&C insurance markets due to overcapacity, benign losses and cheaper reinsurance over the first half of the year, according to Willis.
21 July 2014
Downstream energy market faces c.$150mn PTT loss
Downstream energy underwriters could face a $60mn-$240mn loss after a fire and explosion at a petrochemical plant operated by Thai refiner IRPC, sister title Inside FAC reported last week.
21 July 2014
Giant Liberty deal feeds Berkshire’s appetite for long-tail US liabilities
Berkshire Hathaway has continued to show a strong appetite for assuming long-tail US liabilities with the giant Liberty Mutual adverse development cover announced last week (17 July).
21 July 2014
Fed Nat and TransRe to launch Floridian joint venture
Fast-growing Florida-based homeowners' insurer Federated National is set to launch a new P&C carrier in the state in a joint venture with Canadian bank CA Bancorp and reinsurer Transatlantic Re.
21 July 2014
Industry trio close $63mn Cypress buyout from Onex
(Re)insurance executives Joe King, Enda McDonnell and Adrian Ryan have completed their 100 percent buyout of Florida and Texas insurer Cypress Insurance Group (CIG) for $63mn.
21 July 2014
Smith resigns from Skuld
Simon Smith, Skuld's executive vice president for group business development, has resigned from the Norway-based marine insurance group, The Insurance Insider can reveal.
21 July 2014
Profits almost double at Price Forbes
Operating profits at independent broker Price Forbes soared by 88 percent to £9.01mn ($15.4mn) in calendar year 2013.
21 July 2014
Jones leaves AmTrust for Acappella
Head of liability David Jones and senior underwriter Helen Beamish have left AmTrust at Lloyd's for the nascent Lloyd's underwriter Acappella, The Insurance Insider revealed last week.
21 July 2014
War market holds its breath as Tripoli fighting goes on
The aviation war market is waiting anxiously on the conclusion of a week of fighting at Tripoli Airport in Libya, which has placed $440mn of limit in danger.
21 July 2014
Airlines softening finally set to end
The rapid and long-term softening that has plagued the aviation all-risk market finally looks set to come to an end in the wake of the MH17 disaster, market sources predict.
21 July 2014
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