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Property cat reinsurers greedily eyeing 1 April renewals
Even before the recent 1 January renewals were complete, property cat underwriters had one eye on the 1 April and mid-year contract negotiations, where they expect to make more significant gains.
16 January 2012
MPs set targets on UK whiplash claims
UK MPs criticised the insurance industry last week for its role in driving up the cost of motor insurance premiums and called for an overhaul on how whiplash claims are handled to stem the tide of personal injury claims inflation.
16 January 2012
QBE pays the price for 2011 cat and investment losses
QBE's share price fell 16 percent last week after slashing its profit expectations due to investment and heavy cat losses - led by the Thai floods - in the second half of 2011.
16 January 2012
RSA to avoid under reserving woes
UK heavyweight RSA was given a boost last week by Jeffries International, who said the firm was not materially under-reserved despite the well-known problems in two significant classes, UK motor and Swedish disability.
16 January 2012
They didn’t come here for the weather
When one talks of a potential renaissance in the venerable London market it is always best to speak extremely softly, for fear of offending the Gods of (re)insurance.
16 January 2012
Loss-struck Lloyd’s Names welcome Equity 218 censure
A group representing Lloyd's Names that suffered losses from the poor performance of Equity Syndicate Management's motor Syndicate 218 has welcomed the decision by Lloyd's enforcement board to censure the IAG-owned firm over two charges of misconduct.
16 January 2012
Groupama adds to up-for-sale UK insurers
Troubled French mutual Groupama has put its UK arm up for sale, adding to the list of UK P&C insurance businesses currently looking for new homes while the IPO market remains frozen shut.
16 January 2012
State Auto seals 75% QS with reinsurers
Loss-struck insurer State Auto has successfully arranged a 75 percent quota share of its homeowners' business, providing it with much needed capital relief after its earnings and balance sheet were hammered by last year's record tornado season.
16 January 2012
Reported Thai losses creep towards $6bn
More reinsurers have disclosed their expected losses from the Thai flooding ahead of their results, taking total reported (re)insured losses close to $6bn.
16 January 2012
Digest
South heading for Marsh Europe; Speare-Cole returns; Carter joins Capita; RSG goes green on new buy; Willis names new green leader; Sagicor underwriter boards Ark; New Dore opens for Loucaides; QBE opens liability line in Dubai; UIB promotes Pallet; Actuaries fear number-crumpling
16 January 2012
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