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Offshore energy demand surges
The offshore energy market is experiencing a significant rise in demand as deepwater operators return to the Gulf of Mexico (GoM) and some of the biggest global exploration and production companies develop so-called "mega"' projects that are turning to the commercial market for cover.
15 October 2012
Large power claims on the rise: Marsh
Leading insurers in the power market are reconsidering their stance on pricing and terms following a steady rise in large claims, according to Marsh.
15 October 2012
Senior hull underwriter predicts reinsurance pressure at 1.1
The "eye-catching" major hull losses of the past two years such as Costa Concordia have diverted attention away from the more worrying rise in attritional losses, warns Mark Edmondson, marine hull class underwriter for Chubb's Lloyd's syndicate.
15 October 2012
(Re)insurers’ profitability diminishing
The profitability of US and Bermudian (re)insurers fell over the course of the last decade, according to a study by Fitch.
15 October 2012
Solid Direct Line and Talanx debuts offer hope to sector
Solid IPOs from UK motor insurer Direct Line and Hannover Re's biggest shareholder Talanx have heartened the host of private equity-owned companies that have had no exit option but a trade sale for years.
15 October 2012
Trading down but prices up in three Lloyd’s auctions
The third and final Lloyd's capacity auction took place last week to end a season where volumes were down sharply but pricing nudged up on the most popular syndicates with third party capital.
15 October 2012
Lemma Ukraine ratings cut after sister firm wind-up
Lemma Insurance Company (Ukraine) was downgraded by one notch with a negative outlook by AM Best, following the provisional liquidation of sister company Lemma Europe and a related legal dispute.
15 October 2012
UK insureds expect property rate hikes
Most commercial UK insurance buyers expect premiums for property damage and business interruption (PDBI) cover to rise by up to 10 percent over the next two years, according to an Airmic survey.
15 October 2012
Sector must lobby against regulatory penalties
The London market and wider insurance industry need to lobby far more effectively to avoid suffering unnecessarily from the post-financial crisis re-regulation drive.
15 October 2012
Digest
Antares hires Brock for PI; Milli Re downgraded; Argo redeems; Gallagher rolls up; BIBA goodbye; Green light; Brit hires from Atrium; Crop dusting; Cyber perils; Viva le France; Equinox increases firepower; Nephila promotes; AIG All Black; Howden joins Brazil throng; Gallagher continues JLT hires; Argenta promotes; Associations unite; Go west; Allianz hire; D&O duo; BMS hire; Brit complete
15 October 2012
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