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Brit UK to ring-fence legacy downside
Brit Insurance is improving the appeal of its up-for-sale UK business Brit Insurance Ltd (BIL) to potential buyers by looking at adverse development-type cover to protect against under-reserving.
07 December 2011
Nelson Re extended again
Defunct Swiss reinsurer Glacier Re has further extended the maturity date on its loss-struck Nelson Re Class G notes, as the debate over covered losses from 2008's Hurricane Ike continues
07 December 2011
Brokers key to Lloyd’s future growth: Nelson
New Lloyd's chairman John Nelson reached out to brokers last month saying they would be at the heart of the market's growth in the future.
07 December 2011
D&F underwriters: Enjoy it while it lasts
Its been a tough few years for the direct and facultative (D&F) market, as heavy cat and industrial losses have combined with soft primary and treaty rates to make the product less compelling for cedants.
07 December 2011
Busy pipeline points to cat bond growth for 2012
An estimated 6-10 cat bonds are expected to be pitched to capital markets investors this month as the ILS sector ramps up for what is predicted to be a busy 2012
07 December 2011
Pembroke to launch third-party Lloyd’s syndicate
Ironshore's Lloyd's managing agency Pembroke is set to continue its expansion in 2012 with the establishment of a £25mn stamp special purpose syndicate (SPS).
07 December 2011
Chaucer may toss turnkey
Lloyd's (re)insurer Chaucer is mulling whether to continue providing turnkey services to nascent Lloyd's syndicates, according to well-placed sources.
07 December 2011
Reinsurance brokers locked in bitter patent dispute
Aon Benfield, Guy Carpenter and Holborn are locked in a patent dispute over the proprietary catastrophe modelling software that the reinsurance brokers make available to their clients
07 December 2011
Lloyd’s 2012 cuts welcomed
Lloyd's Market Association chief executive David Gittings has welcomed the news that Lloyd's will trim its 2012 budget by 8 percent, saying that the measure shows "commendable resolve" from the Corporation.
07 December 2011
Another Spitzer victim sues former employer Marsh
Former New York attorney general Eliot Spitzer is again haunting US court rooms as another former Marsh executive is accusing the broker of hanging him out to dry as part of the infamous $850mn bid-rigging and contingent commissions settlement
07 December 2011
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