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Big hitters back CFC in buyout from Hyperion
Specialist liability underwriting agency CFC is to buy itself out from its parent Hyperion Group, the firms have announced
10 April 2012
Swiss Re partners with RSA to extend insurance scope
RSA will front for Swiss Re's insurance arm Swiss Re Corporate Solutions (SRCS) on the company's single carrier property cover for US clients in overseas locations.
05 April 2012
US commercial insurance rate rise accelerates to 3 percent in March
US commercial P&C rates continued to accelerate in March with an average increase of 3 percent on the prior-year period, according to the latest data from insurance exchange MarketScout.
05 April 2012
Dallas damage assessed after multiple tornado strikes
The US city of Dallas escaped major damage although several hundreds of buildings were damaged in suburban communities near the Texan city after a number of tornadoes struck the area on 3 April.
05 April 2012
Gras Savoye CEO exits after seven months
Patrick Werner, former CEO of Willis-affiliate Gras Savoye has left the firm after seven months at the helm and just days after his internal structural overhaul had come into effect at the French broker.
05 April 2012
Reinsurers continue to hold line in April renewals
Reinsurance rates continued to rise in the Asian-focused 1 April renewals but sufficient capacity was available for cedants willing to pay for it, Guy Carpenter's renewals report said
05 April 2012
AM Best downgrades Brit UK
AM Best has cut Brit Insurance Ltd's (BIL) financial strength rating down to A- from A and placed the ratings under review with negative implications
05 April 2012
Citizens looks to fill out traditional cover after $200mn cat bond debut
The launch of a first cat bond by Florida's Citizens Property Insurance Company comes as the state-backed insurer continues to assess availability and pricing of capacity to fill out its traditional reinsurance programme ahead of the 1 June start of the North Atlantic hurricane season.
05 April 2012
Validus launches $500mn Paulson-backed Bermudian reinsurer PaCRe
Validus Holdings is launching PaCRe, a new $500mn capitalized rated Bermuda Class 4 reinsurer to write the top layers of reinsurance programmes in time for the 1 June US wind renewals.
05 April 2012
Below average Atlantic hurricane season forecast
After a quiet start to 2012 following last year's near record global cat losses, property cat underwriters can expect North Atlantic hurricane activity to be below average in the coming season, according to latest forecasts.
04 April 2012
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