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Eiopa releases first outline of ‘Solvency 1.5’
The European Insurance and Occupational Pensions Authority (Eiopa) has released its first legal opinion on "Solvency 1.5", which briefly outlines its proposal to get certain elements of Solvency II in place by 1 January 2014.
21 December 2012
NAIC issues checklist for non-US regulators
Carriers domiciled outside of the US could be eligible for reduced reinsurance collateral requirements provided the foreign jurisdiction meets a new set of standards proposed by the National Association of Insurance Commissioners (NAIC).
21 December 2012
New Point V grows 18% to $247mn
Alterra's sidecar New Point V has increased in size from $210mn to $247mn, the company said.
21 December 2012
Nephila grows to $8bn
Leading insurance-linked securities (ILS) fund manager Nephila is believed to have matched its $1bn+ first-half fundraising feat in the second half of the year as it heads toward the 2013 renewals.
21 December 2012
Allied World takes a stake in Aeolus
Allied World Assurance Company has bought a minority stake in Bermudian collateralised reinsurance writer Aeolus to expand its Allied World Financial Services platform.
21 December 2012
(Re)insurers get set for post-Sandy buybacks
Allstate and Axis Capital have reset for significant share buybacks in 2013 after shaking off Sandy losses, while Chubb is expected to direct proceeds from its Alterra stake after the Markel takeover to repurchase stock.
21 December 2012
SRA weighs in on passporting concerns
The Solicitors Regulatory Authority (SRA) has taken another step to improve the quality of capacity in the UK solicitors' professional indemnity (PI) market, having provided greater clarity on the role of non-UK-based insurers.
21 December 2012
Airline rates down 9-15% in 2012
Airline insurance rates are down 9-15 percent for 2012 as abundant capacity combines with another low loss year, according to reports by leading airline insurance brokers Aon and JLT.
21 December 2012
AIG disposals point to 2013 share buybacks
Analysts are looking forward to a resumption of share buybacks at American International Group (AIG) in 2013 after the US insurer cashed out 90 percent of its stake in aircraft leasing arm ILFC and its remaining interest in AIA Group.
21 December 2012
AM Best: Industry to take $85bn hit from asbestos losses
Net ultimate asbestos losses have crept up by $10bn to $85bn for the US P&C industry, according to rating agency AM Best's latest figures.
21 December 2012
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