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  • Giant US insurer Travelers has reported a better-than-expected profit for the final three months of 2013, helped by sharply lower catastrophe-related claims and a stronger investment performance
  • Bermuda registered 91 new (re)insurance companies in 2013, up 72 percent from the 53 firms registered in 2012, according to annual statistics released by the Bermuda Monetary Authority (BMA)
  • Increased competition, softening market conditions and stunted profitability could see negative ratings actions on global reinsurers outweigh positive ones for the first time since 2006, said ratings agency Standard & Poor's (S&P) in a report published today (20 January).
  • Collateralised retro provider Catco has shifted its risk profile down for 2014 in response to changing market conditions that have led to decreased demand from some buyers.
  • Brown & Brown outperformed its peers last week after its shares climbed 2.27 percent following investor approval of its $602.5mn acquisition of The Wright Insurance Group
  • Shares in AmTrust Financial Services continued their volatile trading pattern of the past couple of months to end last week down 5.1 percent.
  • The majority of European (re)insurance stocks outperformed the Stoxx 600 index last week, which climbed 1.78 percent, with ailing UK insurer RSA continuing its recovery for the second week running as its share price jumped by 5.37 percent.
  • American International Group (AIG) subsidiary Lexington Insurance Company has sued Transatlantic Re for $1.77mn over the alleged breach of facultative reinsurance contracts linked to asbestos claims brought by military contractor Dynalectron.
  • Stocks of London-listed specialty (re)insurers continued to slide last week, led by Lloyd's carrier Novae.
  • Last week The Insurance Insider reported that Equitas was disputing its liability for a Lloyd's legacy claim as part of a strategy to have disputes settled in England. In a comprehensive reply, Equitas contended the original article. We print Equitas' response in full...