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Liberty buys $6.5bn adverse development cover from Berkshire Hathaway
Liberty Mutual has bought a giant adverse development cover with aggregate limit of $6.5bn for its US workers' compensation, asbestos and environmental liabilities from Berkshire Hathaway.
18 July 2014
US Senate passes Tria reauthorisation bill
The US Senate has passed legislation to reauthorise the Terrorism Risk Insurance Act (Tria) in a move that is already being widely welcomed by the P&C industry.
17 July 2014
O’Riordan to head Ecclesiastical reinsurance team
Specialist insurance group Ecclesiastical promoted Mark O'Riordan to head of group reinsurance from 1 July.
17 July 2014
Polar vortex dented Q1 profits
Higher cat and weather claims dented profits for US P&C carriers in Q1 2014, according to data from AM Best.
17 July 2014
Allstate to take $216mn June cat losses
Allstate has announced higher-than-expected catastrophe losses for the second month in a row, taking the total for the second quarter to $936mn before tax, or $608mn after tax.
17 July 2014
Latest Malaysia Airlines loss to cost hundreds of millions
The loss of Malaysia Airlines flight MH17 over Ukraine earlier today (17 July) will cost the aviation market hundreds of millions of dollars, impacting both the all-risk and war policies.
17 July 2014
Aviation war market has $440mn Tripoli exposure
Fierce fighting between rival militias at Tripoli Airport in Libya has damaged a number of aircraft and early estimates suggest that the niche aviation war market will take a loss of over $200mn, The Insurance Insider can reveal
17 July 2014
UK parliament introduces Insurance Contracts bill
The Insurance Contracts Bill, a reform of UK insurance commercial contract law, was today (17 July) introduced into parliament following eight years of consultation between the Law Commission, businesses and insurers
17 July 2014
Gibraltar receives go ahead for Part VII transfers
The government of Gibraltar has received confirmation that the UK Treasury will sanction Part VII asset transfers to (re)insurers based on the Rock.
17 July 2014
KBW downgrades Scor
Equity analysts at Keefe, Bruyette & Woods (KBW) have downgraded their view on Scor to underperform, bringing it into line with Munich Re and Swiss Re.
17 July 2014
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