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AIG a step closer to tougher regulation
In a widely expected development, the US Financial Stability Oversight Council (FSOC) confirmed that American International Group (AIG) is facing designation as a systemically important financial institution (SIFI).
10 October 2012
Eiopa warns Solvency II delays may lead to national fragmentation
The chairman of the European Insurance and Occupational Pensions Authority (Eiopa) Gabriel Bernardino has warned the European Commission that any further delays to Solvency II will lead supervisors in Europe to develop conflicting national solutions
10 October 2012
Competition drives solicitors’ PI rate cuts for smaller UK firms
UK solicitors' professional indemnity rates for smaller practices typically fell at the annual 1 October renewal, as the market passes through a transitional phase before its last-resort pool is abolished
10 October 2012
RMS brings life risk platform to the market
Risk Management Solutions (RMS) has launched a platform to help firms manage longevity and excess mortality risks. The new product generates mortality scenarios and provides access to a range of RMS models.
10 October 2012
Hefty third round of reserve strengthening to hit Sportscover
Lloyd's carrier Sportscover is carrying out significant reserve strengthening on prior year business for the third year in a row, which is set to drag the £25mn-stamp 2010 year of account to a £4.4mn loss
10 October 2012
Nephila’s Triton fund gets $30mn from Ohio pension fund
The Ohio School Employees Retirement System (SERS), a large US pension fund with $9.9bn of assets under management, has shifted $30mn from underperforming hedge funds into Nephila's Triton Fund
10 October 2012
Marketform sticks by med mal after team departure
Lloyd's specialist insurer Marketform has said it will continue to write international medical malpractice after a team of three underwriters handed in their notice late last month
10 October 2012
Demand drives down pricing on MultiCat Mexico
Swiss Re's renewal of the MultiCat Mexico cat bond has priced well below the initial guidance due to high demand for the diversifying bond and its limited ability to upsize
10 October 2012
Prices up in syndicate auctions
Volumes dropped but prices increased in the first two Lloyd's capacity auctions
10 October 2012
Third Point Re and Hiscox team up on new cat fund
Third Point Re's first managed cat fund will include a "significant" investment from Hiscox and write a quota share of the London-listed (re)insurer's cat exposure
10 October 2012
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