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  • Travelers' shares closed down 3.8 percent at $58 today despite bullish rates commentary from senior management as investors reacted to an earnings miss, lower reserve releases and sluggish investment performance.
  • US commercial property casualty rates were up 2.8 percent on average in the fourth quarter after picking up strongly from Q3, according to The Council of Insurance Agents & Brokers (CIAB).
  • PartnerRe faces the prospect of a downgrade after its ratings were placed under review with negative implications by AM Best in the wake of last week's profits warning from the reinsurer that included a $120mn loss estimate for the Thai floods.
  • Everest Re has already demonstrated loss creep in its Thailand estimate as it raised its flood loss number from the $100mn-$125mn it reported just before Christmas to $145mn.
  • Talbot Underwriting CEO Rupert Atkin will replace Barnabas Hurst-Bannister as chairman of the Lloyd's Market Association (LMA) from 1 February
  • Travelers continued the recent bullish tone on rate increases for US commercial lines by reporting price rises of 6 percent overall for renewals in its business insurance segment during the fourth quarter
  • Business process outsourcing specialist Xchanging has appointed Domenick DiCicco as head of North American insurance
  • Bermudian Dunamis Re and Scor's Atropos made notable debuts at the 1 January renewal season in the collateralised reinsurance and retro, industry loss warranty (ILW) and cat bond markets
  • Specialty US insurer RLI has hired Aaron Diefenthaler, AAM Insurance Investment Management's principal, as its new chief investment officer
  • Investment hotshot Prem Watsa, the CEO of Fairfax Financial Holdings, has taken a position as a non-executive director of struggling smartphone manufacturer Research in Motion (RIM)