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London bodies welcome ‘proportionate’ UK financial regulation proposals
Heavyweight London-based underwriting bodies the Lloyd's Market Association (LMA) and the International Underwriting Association (IUA) last week welcomed potential amendments to proposed financial services reforms that would bind future regulators to act in a "proportionate, reasonable and fair" manner.
18 June 2012
Soft market growth leads to underperformance
Specialty carriers that look to aggressively grow premium in a softening market tend to suffer a deterioration in underwriting performance, an analyst has said.
18 June 2012
ILW prices drop 10% in stagnant June market
Industry loss warranty (ILW) prices for peak US wind covers dropped about 10 percent in June with very little trading in the contracts after a smooth renewal on the traditional market, sister publication Trading Risk reported last week.
18 June 2012
Top-line growth at London (re)insurers overplayed: Espirito Santo
Underlying growth at Lloyd's and London-listed carriers was muted in Q1 by the impact of ceded premium and third party capacity, according to Espirito Santo analyst Joy Ferneyhough.
18 June 2012
Broker revenues will benefit from US market rates firming
A moderate firming in the US P&C market combined with a gradual economic recovery is expected to boost brokerage revenue over the next year, according to rating agency Moody's.
18 June 2012
Chartis to roll out $1.5bn non-cat property cover globally
Chartis is set to expand its high limit cover plan for commercial property across the globe after subsidiary firm Lexington pioneered the product in North America.
18 June 2012
Assurant ups spend to increase cat limits by 15%
US insurer Assurant Inc has bulked up limits on its property cat reinsurance programme by more than 15 percent to keep in line with its growing catastrophe exposures.
18 June 2012
Airmic signs up big three brokers for global compliance database
UK risk managers' trade body Airmic has announced that it will be working with the "big three" brokers to create a compliance database of international regulations for global insurers.
18 June 2012
European cyber market poised for 2014 growth
Demand for cyber risk cover in Europe is set to soar in the next two years, spurred on by EU data privacy regulation expected to be issued in 2014, according to a specialist cyber risk broker.
18 June 2012
Dallas hailstorm could cost $2bn
A Dallas hailstorm that struck on 13 June could cost insurers around $2bn, making it one of the most expensive storms to strike the US so far this year.
18 June 2012
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