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  • Bermudian (re)insurer Axis Capital has agreed to pay former CEO John Charman $13,846,268 in lieu of annual retirement payments that he was entitled to, taking his total severance package to just under $36mn
  • The California Earthquake Authority (CEA) has launched its third Embarcadero Re cat bond on the market, which has been given a BB+ preliminary rating by Standard & Poor's (S&P)
  • Cincinnati Financial Corp and Selective Insurance Group preannounced Q2 catastrophe losses today ahead of publishing full financials as the toll from wind, hail, thunderstorms and tornadoes in the period continues to mount.
  • The Hartford become the latest US insurance giant to preannounce Q2 catastrophe losses as it said it expects to book an impact of $280mn to $300mn before tax when it reports its financials at the beginning of August.
  • Brown & Brown reported top-line growth of 17.9 percent and an 11.5 percent increase in net profits as it opened the publicly quoted US broker reporting season today.
  • There are fears that the EU may have to push back the January 2014 launch of its Solvency II capital regime after talks on a final draft of the new framework failed ahead of the impending EU parliamentary summer break.
  • Weekly share price movements on The Insurance Insider's universe of global P&C (re)insurers and brokers
  • US specialty insurer AmTrust has ended its search for a Lloyd's platform after buying the minnow Dore & Associates (DAHL) and its Syndicate 2526
  • The Lloyd's Market Association (LMA) is rationalising the market's model binding authority agreements.
  • A US congressman last week accused the US National Association of Insurance Commissioners (NAIC) of acting beyond its powers, and urged the newly created Federal Insurance Office (FIO) to review its role.