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Why brokers of the future will need to step aside...
The Insurance Insider met former Aon Global chairman and Aon Ltd CEO and chairman Dennis Mahoney earlier in the month and found the retired executive buzzing with enthusiasm from a keynote speech he had just made in London.
31 October 2011
Another BLG partner defects as RPC launches Singapore office
Mark Errington has become the latest partner to defect from London-headquartered law firm Barlow Lyde & Gilbert (BLG) on the eve of its effective takeover by Clyde & Co.
31 October 2011
UK insureds free to choose their own solicitor
A UK court has ruled that insureds are not restricted to using an insurer's panel solicitor and are entitled to be covered for all "reasonable" legal costs endured, even if they exceed the rate stated in their policy.
31 October 2011
Insurance groups urge compromise on surplus lines tax dispute
US trade bodies have urged the two groups of states that have initiated separate schemes on sharing premium taxes for surplus lines policies to compromise.
31 October 2011
Bermuda gets Solvency II equivalency approval
Bermuda's regulatory scheme for managing larger (re)insurers is broadly equivalent to Europe's forthcoming Solvency II regime, according to the European Insurance and Occupational Pensions Authority (Eiopa).
31 October 2011
Capital markets can hurdle traditional stumbling blocks
Traditional reinsurers are failing to offer capacity efficiently and the trend for them to outsource peak risk to capital market providers is likely to continue, Nephila Capital co-founder Frank Majors said at the Baden Baden conference last week.
31 October 2011
BNP Paribas closes life securitisation
A US subsidiary of Prudential Financial has closed a $2bn letter of credit deal with a number of banks in the largest life securitisation since the 2008 financial crisis.
31 October 2011
Swiss Re launches new Successor as Munich closes $100mn Queen Street
Swiss Re is seeking to raise $50mn from a new rated Successor cat bond issue covering US hurricane and European wind risk, as well as from an unrated tranche of notes exposed only to US hurricane perils.
31 October 2011
Munich Re’s Turkish bond unlikely to be triggered by quake
Insurance-linked securities (ILS) investors do not expect the earthquake that struck eastern Turkey on 23 October to threaten the EUR50mn Ianus Capital bond.
31 October 2011
Munich Re closes $100mn cat bond
Munich Re has closed its latest Queen Street cat bond at $100mn, a third above its $75mn target, according to a ratings report from Standard & Poor's.
31 October 2011
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