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  • More (re)insurers are likely to suffer financial crises of the kind that have engulfed Tower Group and Meadowbrook due to underpriced business and under-reserving in the low interest rate environment, says industry entrepreneur Bill Berkley.
  • Capacity prices at Lloyd's jumped by nearly two thirds in the second auction of 2013, in a further sign of the 325 year-old insurance market's growing appeal to investors.
  • The more energetic approach that Lloyd's has taken to bringing the People's Insurance Company of China (PICC) into the market is part of a wider strategic shift that also saw the Corporation reach out to Spanish and Latin American market leader Mapfre earlier in the year, it is understood.
  • Two equity analysts have written notes with valuations for New York-listed carrier Tower Group based on it going into run-off.
  • AIG, Ace, CNA and Chubb are among the insurers that look set to take losses as Tower's $100mn directors' and officers' (D&O) cover threatens to be overwhelmed by class action lawsuits on its calamitous under-reserving, The Insurance Insider can reveal.
  • VisionRe has postponed its launch until next year after failing to find sufficiently attractive opportunities to deploy its capital, it said today (14 October).
  • Prominent members of the London (re)insurance community have described collateralised insurance-linked securities (ILS) as extremely dangerous and a huge threat to the London market.
  • The rising value of broking firms is making M&A more difficult and may slow the pace of activity, according to two leading consolidators.
  • Costly Mex; Dual appointments; Uniqa ‘re-IPO'; Equity offloads; Risk spreads like wildfire; Markel promotes; MGAA MD; DWF expands; Saudi sun; Munich reshuffle; Cooper Gay promotes; Japan stable; Phailin hits; Benmosche gaffe; AIG sale; Diversity matters; Jubilee golden.
  • Independent US wholesaler Westrope is being auctioned off and has garnered significant interest from several of its larger rivals, The Insurance Insider can reveal.