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Citizens ups private reinsurance by 70% to $3.1bn for 2014
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.
24 April 2014
WR Berkley settles in $178mn trucking tragedy dispute
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
24 April 2014
Aspen: ‘loads’ of other possible M&A partners out there
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.
24 April 2014
AIG broadens cyber coverage to include injury
US insurer American International Group (AIG) yesterday (23 April) said it had expanded its cyber insurance coverage to include physical injury and property damage
24 April 2014
S&P downgrades Allianz unit after restructuring
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
24 April 2014
Saga eyes £3bn London IPO: reports
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)
24 April 2014
Everest Re points to offensive and defensive use of alternative capacity
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.
24 April 2014
Aspen beats and says RoE will accelerate in 2015-16
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.
24 April 2014
Strong top and bottom line growth at Allied World
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.
24 April 2014
Floridian start-up insurer Heritage seeks $100mn from IPO
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.
23 April 2014
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