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‘Blood on the streets’ before hard market: Transatlantic chief
A broad hard market will not occur until there is "blood on the streets", according to Transatlantic Holdings president and CEO Mike Sapnar.
13 February 2012
Cat bond pricing on rise
The cat bond market missed a chance to grow in 2011 as it failed to compete sufficiently on pricing, Willis Capital Markets & Advisory (WCMA) argues in its latest quarterly update on the segment.
13 February 2012
California raises further $150mn with quake bond II
The California earthquake bond Embarcadero Re has closed, raising $150mn reinsurance for state insurer the California Earthquake Authority (CEA) in the second issuance from the platform.
13 February 2012
Not 2005 all over again…
The contrast between the losses and the scale of reinsurers in the cat-heavy years of 2005 and 2011 respectively provides a compelling demonstration of the oft-repeated claim that the industry was well capitalised at the start of last year.
13 February 2012
The Arab Spring drives up political risk threats in 2012
Aon has released its 2012 map of political risk levels in 167 emerging countries, revealing a significant Arab Spring aftershock both within the region and globally.
13 February 2012
January storms cause $330mn+ of insured losses
Windstorm Ulli brought $306mn in claims for insurers with European exposures, while a rare January tornado outbreak caused at least $30mn in losses to hit the US market, according to Aon Benfield's Global Catastrophe Recap report.
13 February 2012
RenRe writes $30mn in new retro sidecar Upsilon Re
RenaissanceRe's global chief underwriting officer Kevin O'Donnell says the firm's new sidecar Upsilon Re helped it expand into what he described as a dynamic and dysfunctional retro market at the year-end renewals.
13 February 2012
Winners and losers emerge among (re)insurers after painful 2011
A clear bifurcation is emerging between P&C (re)insurers that have weathered the storm of near-record 2011 catastrophe losses and those that appear overweight in their exposures compared to industry peers.
13 February 2012
Pat Ryan bullish on US wholesale partnering
Pat Ryan, CEO of US wholesaler Ryan Specialty Group, thinks the recent trend of retailers contracting with a small number of preferred wholesale partners will continue.
13 February 2012
Industry heavyweights highlight growth in E&S market
The excess and surplus lines (E&S) market in the US is registering growth as admitted carriers turn their backs on business that they had been accepting earlier in the soft market, two industry leaders have said.
13 February 2012
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