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AmWINS to buy rival Bliss & Glennon
AmWINS has agreed to buy smaller rival Bliss & Glennon from Fortegra Financial Corporation for an undisclosed sum, cementing its position as the biggest wholesale P&C broker in the US.
04 December 2013
Solvency II agreement highlights ‘equivalency’ debate
The long-awaited final draft of Solvency II has brought the debate over "equivalency" status and, in particular, the status of US insurance regulation centre stage
04 December 2013
Tawa sues Penn National over reinsurance claim
Run-off acquirer and (re)insurance service provider Tawa is suing US carrier Penn National for fraud over a reinsurance contract that the struggling London-listed firm expects to cost it a net $41mn
04 December 2013
US court dismisses Berkshire asbestos suit against Trans Re
A Massachusetts court has rejected a complaint brought by two Berkshire Hathaway-owned companies that alleged Trans Re had used unfair and deceptive practices to rid itself of "crippling asbestos liabilities by any means possible".
04 December 2013
Beazley ponders cat bond as it eyes cheaper retro in 2014
When Lloyd's (re)insurer Beazley buys its reinsurance/retro at 1 April next year it may consider issuing a catastrophe bond for the first time, according to Canaccord Genuity analyst Ben Cohen, citing a recent conversation with Beazley finance chief Martin Bride.
04 December 2013
Alternative reinsurance market size at record high
The alternative reinsurance market has grown to around $45bn from roughly $33bn in 2012, and now has a circa 17 percent share of US property catastrophe business and 11 percent globally, according to Swiss Re.
04 December 2013
Amlin and Leadenhall mull 2014 sale option
London-listed (re)insurer Amlin has an option to buy out its joint venture partners in the fast-growing ILS fund manager Leadenhall Capital Partners in 2014
04 December 2013
PCS, American Family seek to dismiss Mariah Re cat bond lawsuit
American Family Mutual Insurance and service companies PCS and AIR Worldwide are seeking to dismiss a lawsuit over the $100mn Mariah Re tornado bond payout as they maintain that the claim was based on accurate data.
04 December 2013
Aviation rates continue freefall…
Aviation insurance rates have been heading south for years, weighed down by intense competition and a prolonged dearth of major claims, but there is growing anecdotal evidence that the reductions are getting more pronounced.
04 December 2013
Casualty reinsurance demand continues to fall
While the casualty reinsurance market has been relatively stable in 2013, with rate increases broadly in the low single-digit range for most classes, several trends have converged to provide a sense of foreboding.
04 December 2013
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