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  • The board of Florida Citizens Property Insurance confirmed today (24 April) it has approved a $3.1bn risk transfer programme for 2014, including the new $1.5bn Everglades Re cat bond and $1.3bn of traditional reinsurance.
  • A WR Berkley subsidiary has settled ahead of a retrial of a $178mn case where a girl was orphaned in a trucking accident involving one of its policyholders, The Insurance Insider understands
  • Aspen Insurance CEO Chris O'Kane told analysts today (24 April) that there are a number of other parties that the Bermudian (re)insurer could conceivably do a deal with besides John Charman's Endurance.
  • US insurer American International Group (AIG) yesterday (23 April) said it had expanded its cyber insurance coverage to include physical injury and property damage
  • Ratings agency Standard & Poor's (S&P) has downgraded Allianz's Dutch unit on the grounds that it can no longer be considered a single business after a recent restructuring, making it less creditworthy
  • Saga, the UK insurer for the over-50s, is planning a London stock market flotation that could value it at £3bn ($5bn), with an announcement expected next week, several newspapers report today (24 April)
  • Everest Re highlighted the role of alternative reinsurance capacity in its operating strategy as it became the latest Bermudian to beat Wall Street forecasts for first quarter earnings.
  • There was no mention of the Endurance bid as Aspen reported operating income of $1.55 a share, up 46 percent from $1.06 per share in Q1 2013 and well ahead of Wall Street analysts' forecasts of $1.09 a share.
  • Allied World reported 54 percent growth in operating profits for the first quarter to $129.9mn and a 7.7 percent increase in gross written premiums to $901.4mn as the Switzerland-headquartered (re)insurer got the year off to a strong start.
  • Florida "depop" insurer Heritage P&C is seeking to raise up to $100mn from an initial public offering of its shares as it continues to ramp up its expansion plans, according to a 21 April Securities and Exchange Commission filing.