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Reinsurers to revise US cat pricing on politicized hurricane deductibles
Reinsurers are expected to revise their pricing approach for US cat to reflect the politicizing of hurricane deductibles in the aftermath of Superstorm Sandy, according to Validus Re CEO Kean Driscoll.
07 December 2012
Travelers Casualty sues Excalibur for $0.5mn
Travelers Casualty and Surety has sued run-off reinsurer Excalibur for at least $452,000 over the non-payment of three facultative contracts linked to asbestos claims.
07 December 2012
E&Y agrees $117mn settlement over Sino-Forrest suit
Accountancy firm Ernst & Young (E&Y) has agreed to pay $117mn in a settlement with plaintiffs relating to work as the auditor of collapsed Chinese company Sino-Forest.
06 December 2012
UK £1bn annual insured flood loss highest for 5 years
The recent severe UK floods have pushed up annual insured flood losses in the UK beyond £1bn ($1.6bn), Aon Benfield's Impact Forecasting unit said in its monthly cat report.
06 December 2012
Lancashire shares fall after Nomura downgrade
Lancashire Group's shares have fallen after being downgraded by Nomura analyst Fahad Changazi to "neutral" on valuation grounds.
06 December 2012
Truell sidelined as Equity Redstar enters exclusive talks
Edi Truell, who was the preferred bidder for Equity Redstar as recently as last week, has been excluded from the process after the Lloyd's motor insurer awarded exclusivity to a rival bidder, The Insurance Insider can reveal.
06 December 2012
Lloyd’s to boost Japanese presence
Lloyd's Japan is aiming to double the number of managing agents writing business on the local underwriting platform by 2014 and has urged agents to use the Japanese open market model to access business in the country.
06 December 2012
Marine market braced for Baltic Ace loss
The North Sea sinking of the Baltic Ace car carrier after a collision with the Corvus J container ship looks set to cap a challenging 12 months for the marine insurance community
06 December 2012
Skuld targets Asian growth with Singapore office
Marine insurer Skuld has opened a branch office in Singapore as the company seeks to grow its business in south Asia
06 December 2012
Mitsui Sumitomo at Lloyd’s appoints claims chief
Mitsui Sumitomo at Lloyd's has recruited Simon Catt as head of claims from Travelers Syndicate Management.
06 December 2012
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