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  • Shipowners are facing significant general premium increases at the 20 February 2014 protection and indemnity (P&I) renewals as clubs make up for underwriting losses, declining investment income and the increasing costs of meeting regulatory and solvency requirements, two major P&I brokers have estimated in separate sector reports.
  • The private equity arm of Goldman Sachs is set to pay £150mn ($240mn) for just under 50 percent of UK motor insurer/intermediary Hastings, valuing the company at about £720mn, Sky News reported on 5 October.
  • UK general insurers and brokers enjoyed their strongest increase for profits in five and two years respectively during the third quarter, helped by a strong rebound in business volumes, the Confederation of British Industry (CBI) said today (7 October)
  • Bermuda-based (re)insurer Montpelier Re said it planned to raise up to $100mn by floating Blue Capital Reinsurance, a newly formed collateralised reinsurer, on the New York and Bermuda stock exchanges
  • Tropical Storm Karen weakened significantly as it approached the US Gulf Coast over the weekend, causing heavy rainfall but little damage, according to reports
  • At the start of a crucial week for the future of New York-listed (re)insurer Tower Group, there are reports that the firm has approached private equity companies in an effort to raise capital to prop up its stretched balance sheet
  • Tropical storm Karen is set to become the second tropical storm to make landfall in the US in 2013 as it heads towards the northern gulf coast.
  • Tropical Storm Karen looks set to become the first named storm of the 2013 season to make landfall in the US during this weekend, with communities along the Gulf Coast preparing for strong winds, according to reports
  • Mark Johnson, a founding director of Talbot Underwriting, has joined Ironshore's Lloyd's managing agent Pembroke, where he will develop third-party capital opportunities.
  • US lawmakers will reach a deal on the federal budget and borrowing limit before a political stand-off between them triggers a devastating default by the world's biggest creditor, according to Warren Buffett