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  • Travelers has increased the size of its new Longpoint Re III cat bond from $150mn to $250mn as indicative pricing on the deal narrowed, Trading Risk understands.
  • The California Earthquake Authority (CEA) bought a $100mn collateralised reinsurance contract to top up its claims-paying capacity for 2012, according to governing board meeting documents.
  • With Joe Plumeri's role up for grabs at Willis, the question of senior succession is at the top of the agenda at the major broking house
  • While political turmoil and voter unrest in Greece roiled financial markets in May as fears grew of a disorderly exit from the monetary union, the central concern for the (re)insurance industry - and the wider global economy - remains the potential fallout for Spain and Italy.
  • Xchanging Ins-sure Services (XIS) will continue to play a important role after Project Darwin, The Insurance Insider has learned
  • With the continued focus on a possible Greece exit from the troubled European monetary union, the flailing attempts to bailout the Spanish bank Bankia in late May provided a compelling reason to fear that the eye of the storm may shift to Europe's larger economies.
  • As lawsuits fly around the IPO of shares in social network Facebook, some mud is likely to stick on the firm's $200mn HCC-led directors' and officers' (D&O) insurance policy, The Insurance Insider has learned
  • With the final piece of Florida Citizens' risk transfer set to complete as The Insurance Insider went to press, the state-backed insurer has taken advantage of competitive conditions across traditional and non-traditional sectors to place 50 percent more cover than it expected.
  • The durability of the hardening market for US cat reinsurance has been questioned after underwriters were disappointed by rate rises at the Florida-dominated 1 June wind renewal
  • While headline 1 June pricing in Florida disappointed underwriters as rates went up by 2.5-5 percent on average, the two-tier nature of a complex marketplace produced different experiences for buyers and sellers, depending on their position in the sector.