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Reinsurance is for life, not just for Christmas
It is only a fool who believes he can avoid major market losses or overall loss trends. We all know that the law of large numbers means that pricing becomes less of an art and more of a science as greater amounts of data come into play.
19 December 2011
1.1 in line with mid-year despite strengthening reinsurer resolve
As underwriters and brokers embark on a frenzied last few days of negotiation for the 1 January renewal season, firm order terms for US property cat programmes are generally falling in line with the rate increases of 5-10 percent seen at mid-year.
19 December 2011
Platinum the latest reinsurer to secure Florida collateral relief
Platinum Underwriters has joined the growing band of reinsurers that have received permission from the Florida insurance regulator to post reduced collateral on business that it writes in the state
19 December 2011
Cameron International settles with BP for $250mn
Houston-based subcontractor Cameron International agreed a $250mn settlement with BP regarding the 2010 Deepwater Horizon oil rig explosion and spill in the latest development in the ongoing saga.
16 December 2011
Lloyd’s CEO defends Kiln’s $700mn Tokio Marine losses
Lloyd's CEO Richard Ward has written to the CEOs of managing agents to reassure the market over Kiln-managed Tokio Marine Syndicate 1880's outsized exposure to Thai flood losses.
16 December 2011
Brown & Brown to buy Arrowhead for $395mn
US broker Brown & Brown has ended an acquisitive year by agreeing a major deal to buy programme manager and managing general agent (MGA) Arrowhead General Insurance Agency, Inc for $395mn from its private equity owners.
16 December 2011
IAG buys ongoing business of New Zealand’s troubled AMI
Insurance Australia Group Limited (IAG) has agreed to purchase the ongoing insurance business of New Zealand mutual AMI for NZ$380mn (£185mn)
16 December 2011
Scor estimates EUR140mn Thai loss
Global reinsurer Scor has said it expects its net losses from the floods in Thailand to amount to EUR140mn.
16 December 2011
Groupama hit with further rating downgrade
French mutual insurer Groupama has been hit by a further ratings downgrade in yet more evidence of the squeeze on European (re)insurers credit profile amid the Eurozone debt turmoil.
15 December 2011
Lloyd’s aims for more flexibility in latest 3-year plan
Lloyd's will work on plans to support syndicates in responding to any market upturn, the Corporation has announced as part of its latest three-year plan.
15 December 2011
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