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S&P signals possible Lloyd’s upgrade
Standard & Poor's (S&P) may upgrade its Lloyd's rating next year after changing the Society's outlook from stable to positive because its competitive position has "improved relative to its peers"
28 August 2012
TVA held liable for coal ash spill
The Tennessee Valley Authority (TVA) has been found liable for damages caused by one of the largest environmental disasters to hit the mainland US in recent years.
28 August 2012
Enstar acquisitions continue with $252mn SeaBright deal
Bermudian run-off acquirer Enstar has continued its flurry of summer acquisitions with a deal to acquire US insurance group SeaBright Insurance Holdings in a transaction valued at $252mn.
28 August 2012
Greater reinsurance required for Missouri mutuals
The Missouri Department of Insurance has issued stronger reinsurance requirements for the state's mutual insurers after last year's Joplin tornado forced some into financial distress.
28 August 2012
Rims calls for extension of US terrorism programme
Federal support for the terrorism insurance market via backstop reinsurance must be maintained because the private sector cannot provide a competitive market, the Risk and Insurance Management Society (Rims) has warned.
28 August 2012
Last of AIG Maiden Lane sold
The Federal Reserve Bank of New York has sold the remaining securities in the Maiden Lane III portfolio to book a total net profit of $17.7bn for taxpayers from its support for AIG and related facilities in its 2008 rescue.
28 August 2012
Reinsurance and London the sector hotspots
European reinsurers and London market firms have made steady gains on the stock markets this year but there is still potential for further gains, Barclays analysts Olivia Brindle and Andy Broadfield said in a recent note
28 August 2012
French banks probe US sanctions breach
BNP Paribas and Credit Agricole are conducting internal probes into dollar payments that could breach US sanctions, after Standard Chartered Bank received heavy fines from US regulators.
28 August 2012
Crop loss estimates range from $5bn to $20bn
(Re)insured loss estimates from the severe drought in the US range from $5bn to $20bn, reflecting the huge uncertainty that surrounds the fiendishly complicated loss.
28 August 2012
Shrinking reinsurers face unwieldy expense ratios
The two Bermudian reinsurers that have posted the highest expense ratios this year also have the lowest price-to-book trading valuations, analysis by The Insurance Insider shows
28 August 2012
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