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Travelers’ business insurance rate rises point to plateau
A levelling-off of rate rises in industry bellwether Travelers' business insurance segment has led to fears that the upwards momentum in US P&C pricing may be slowing.
23 July 2012
Eagle Star sale auction begins with strong legacy market interest
Heavyweight buyers in the run-off sector have been approached with an initial tender document as the run-off auction of Zurich Insurance Company's UK run-off subsidiary Eagle Star finally gets underway.
23 July 2012
White Mountains puts $600mn into mutual bond insurer start-up
White Mountains has put $600mn behind the launch of a New York-based mutual bond insurer, Build America Mutual Assurance Company (BAM), to serve the US municipal market.
23 July 2012
Data Room
European (re)insurance stocks began this week with a heavy sell-off as the eye of the Eurozone storm returned to Greece and Spain
23 July 2012
FSA to consider landmark opt-out scheme Orion
The landmark scheme of arrangement for Orion Insurance Company and The London and Overseas Insurance Company Ltd will be sent to the Financial Services Authority for consideration by 31 July, according to its administrators PricewaterhouseCoopers (PwC).
23 July 2012
NZ insurer downgraded after scheme of arrangement
AM Best has downgraded ACS (New Zealand), formerly Ansvar Insurance Ltd, following the firm's separation from its parent company Ecclesiastical Group, the UK church and charity insurance mutual.
23 July 2012
EU-US in talks for regulation convergence
The top insurance regulatory authorities in the EU and the US have made details of their talks publicly available for the first time, while industry experts warn there is still a lot of ground to cover on convergence.
23 July 2012
Greenberg fraud case could go to New York’s highest court
The fraud case against ex-American International Group (AIG) chairman and CEO Maurice "Hank" Greenberg and former AIG CFO Howard Smith could be heard by New York's highest court.
23 July 2012
TWIA postpones key hearings on surcharges to property insurance policies
The Texas Department of Insurance (TDI) has pushed back the date for a number of public hearings on proposed changes to a bill governing the Texas Windstorm Insurance Association (TWIA) amid continuing concerns over the state-run insurer's financing.
23 July 2012
Allied World sues Hannover Re over fac contracts
Allied World Assurance Company has sued Hannover Re for $19mn after claiming that it breached two facultative reinsurance agreements, a court filing has shown.
23 July 2012
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