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  • Eiopa has announced a new EU-wide stress test for the insurance sector aimed at assessing its overall resilience
  • UK Chancellor George Osborne last week (19 March) announced £140mn ($200mn) of new funding for flood defences as part of the 2014 Budget, in response to the unusually severe weather that hit the country this winter.
  • CNA to sell life unit for $615mn; RSA dips; Cat models probe; Catlin up; Allianz Re reaches for Law; Hiscox upgrade; Swan Re lands; Q-Re expands; Higher revenues expected; MMA acquires; Endurance hires; Validus departure; Beazley cool on M&A; Sompo upgraded; EPG looks east
  • UK floods have inflicted losses of £630mn ($1bn) on insurers so far this year, and the final claims bill could reach £1bn if heavy rain persists into March, London-listed (re)insurer Hiscox said today (14 February).
  • Brazil has applied to the European Insurance and Occupational Pensions Authority (Eiopa) to be granted third-country equivalence under Solvency II, which will give it the same status as EU-domiciled countries when the new capital regime comes into operation.
  • Moody's has put the credit ratings of troubled UK general insurer RSA on review for downgrade after a string of profit warnings from the group culminated in the departure of CEO Simon Lee last week.
  • Quoted Lloyd's insurer Novae Group has found a successor to long-serving CFO Oliver Corbett by hiring Charlie Fry, the former Benfield and Guy Carpenter executive
  • Standard & Poor's (S&P) has downgraded troubled UK general insurer RSA's credit rating, saying weather-related claims and accounting problems revealed by the company last week could prevent it from building up its capital strength as planned.
  • RSA review; Endurance recruits; Catlin branch; Catastrophe cost; AmTrust completes; Argenta reshuffle; P&C profit...
  • The new Prudential Regulation Authority (PRA) guidelines on solvent schemes of arrangement and capital extraction from legacy insurers could "cause the problem they are trying to solve", an Insurance and Reinsurance Legacy Association (Irla) audience heard last week (9 May).