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FSA tightens screw on broker risk transfers
The UK Financial Services Authority (FSA) has proposed a ban on "conditional" risk transfer between insurers and intermediaries in order to prevent policies not being honoured if a broker fails.
03 September 2012
Fac securitisation ends in losses
Hannover Re's groundbreaking Fac Pool Re securitisation is facing the prospect of major losses as a legal dispute begins over some of the business ceded into the pool.
03 September 2012
ILS investors sanguine about Isaac
Insurance-linked securities (ILS) investors kept a close watch on the Pelican Re cat bond as Hurricane Isaac hit Louisiana, while parts of the state continue to struggle with flooding a week after the storm.
03 September 2012
Damp squib Isaac spares (re)insurers from major loss
Despite reviving bleak memories for the residents of New Orleans, Hurricane Isaac ultimately appears to have turned into a damp squib for (re)insurers, at least according to the cat modelling agencies.
03 September 2012
Flagstone execs set for golden goodbyes
In addition to the $8.43 a share offer to Flagstone Re investors, the Validus proposal includes $135.2mn of balance sheet adjustments to the Swiss-based reinsurer.
03 September 2012
Flagstone tie-up would take Validus to top of the Bermuda cat table
A successful combination between Validus and its smaller rival Flagstone Re would create Bermuda's largest property catastrophe reinsurance writer, edging out short-tail specialist RenaissanceRe.
03 September 2012
Residual value could make London market return
The niche residual value insurance (RVI) market could form part of the EC3 landscape once again, with Korean underwriter Samsung Fire & Marine Insurance Company of Europe (SFME) considering writing the product.
03 September 2012
Ace Global Markets has K&R in its sights
Kidnap and ransom (K&R) and contingency could soon be written by Ace Global Markets (AGM), the London market arm of Ace European Group (AEG), reports sister title Inside FAC.
03 September 2012
AFG acquires 100% of Lloyd’s insurer Marketform
American Financial Group (AFG) has consolidated its ownership of Lloyd's insurer Marketform five years after acquiring a majority stake in the business.
03 September 2012
Pritchard to step down from Munich Re syndicate in 2013
Market veteran Michael Pritchard, the active underwriter for Beaufort-managed and Munich Re-owned Lloyd's Syndicate 318, is to step down from the role with effect from 30 June 2013.
03 September 2012
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