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  • Lloyd's insurers Cathedral and Talbot have reached a settlement with Michael Jackson's estate over the $17.5mn non-appearance policy they wrote ahead of the singer's death in 2009, just as he was preparing for a series of comeback concerts
  • Lloyd's insurer Beazley has escaped, for now at least, liability for circa $20mn in legal fees incurred by US technology giant Oracle during a dispute with shareholders over its 2011 acquisition of Pillar Data Systems.
  • UK-headquartered insurance distribution group Hyperion has posted a year of robust growth in both its Howden broking and Dual managing general agent (MGA) businesses
  • The threat of cyber attacks has re-emerged as one of the top five threats likely to cause severe harm to the world's economy over the next decade, a World Economic Forum report warned ahead of the global powerbroker conference in Davos, which takes place later this week...
  • A proposed extension to the NFIP has overcome its biggest hurdle after receiving approval from the US House of Representatives.
  • Most Lloyd's insurers are over halfway towards completing the internal modelling process that will be used to calculate their capital burden under Solvency II, with two years to go before the new European capital regime comes into force, consulting firm LCP found in a survey.
  • Over half of all UK insurance brokers have delayed or cut investment after being hit by skyrocketing contributions to the Financial Services Compensation Scheme (FSCS) fuelled by mis-sold payment protection insurance, according to research by the British Insurance Brokers' Association (BIBA).
  • UK public-private reinsurer to search for CEO and reinsurance broker(s) to structure programme...
  • The chief reinsurance buyer for American International Group (AIG), Samir Shah, told sister publication Trading Risk that the firm's use of cat bonds was not about trying to stimulate competition in the reinsurance market but to help develop the ILS market over the long term.
  • Average premiums in the ILS and ILW market dropped by 27 percent in 2013, reaching levels last seen before Katrina