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US farm bill extends crop insurance budget
The US farm bill that secures the future of the US crop insurance programme for the next five years was signed into law by President Obama earlier this month, in a move expected to expand the scheme by $5.7bn between now and 2023.
17 February 2014
End finally in sight for Highlands UK scheme
The end may finally be in sight for a scheme of arrangement to wind up the UK arm of run-off insurer Highlands Insurance Company UK (HUK).
17 February 2014
Ebix pays $6.5mn to settle accounting class action
Insurance IT services provider Ebix has agreed to pay $6.5mn to settle a shareholder class action suit triggered by allegations of accounting irregularities in 2011.
17 February 2014
QBE sues PI insurers over force-placed claims
QBE is suing a group of professional indemnity (PI) insurers led by subsidiaries of AIG and Allied World after they refused to pay claims related to investigations and lawsuits against QBE's force-placed lender insurance business Normal 0 fa
17 February 2014
UK intermediary HomeServe hit with £31mn fine
HomeServe, the UK personal lines intermediary that styles itself as the fifth emergency service, has been hit with a heavy £31mn fine from the Financial Conduct Authority (FCA) for serious and long-running customer service failings.
17 February 2014
Catlin tests out ILS fund structure
Catlin Group has created two reinsurance funds with internal capital as it weighs up whether to enter the third-party asset management space, according to the London-listed (re)insurer's founding CEO Stephen Catlin.
17 February 2014
Retro market embracing aggregate demand
The retrocession market is now significantly more focused on aggregate capacity following the 1 January renewals as demand for occurrence covers shrank, according to Credit Suisse Asset Management's head of insurance-linked securities (ILS) Niklaus Hilti.
17 February 2014
Munich Re to issue $100mn Queen Street cat bond
Munich Re is seeking to raise up to $100mn from a new Queen Street cat bond that will again cover Australian cyclone risk.
17 February 2014
$40bn cat losses in 2013; significantly below 10-year average
Despite dubbing 2013 the "year of the flood", Guy Carpenter said the year's catastrophe loss total of $40bn was significantly below the 10-year average of insurance nat cat losses.
17 February 2014
Top 10 ILS funds reach $36bn as investor demand for reinsurance spirals
The 10 largest insurance-linked securities (ILS) fund managers now control almost $36bn of assets, a total which rose by 29 percent over the course of 2013, according to an exclusive survey by our sister publication Trading Risk. Normal 0 &
17 February 2014
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