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Bermudian reinsurers turn to insurers for QS cat capacity
Bermudian reinsurers are increasingly utilising quota share arrangements with US and international insurers and collateralised reinsurers to support their property cat portfolios and help manage peak capacity.
21 October 2011
Allstate Q3 cat bill to total $1bn
US primary insurer Allstate is expecting catastrophe losses from events in September to cost $215mn, taking the firm's Q3 estimated losses through the $1bn barrier.
21 October 2011
Optimism on rates boosted as Chubb beats the Street
Giant US primary insurer Chubb reported analyst topping results on Thursday, adding to optimism on hardening US commercial insurance rates that has grown since rival Travelers reported earlier this week.
21 October 2011
RFIB parts company with CEO
Marshall King, CEO of London-headquartered (re)insurance broker RFIB is leaving the company with immediate effect after only two years in the job.
21 October 2011
NBA cancellations unlikely to hit D&F market
The current dispute between team owners and players in the US National Basketball Association league is unlikely to have a significant impact on the international direct and facultative market
21 October 2011
Willis parts company with two senior UK executives
David Margrett and Brendan McManus have both vacated their roles in the upper echelons of Willis Group, with no clear indication that they are moving on to new companies.
20 October 2011
Omega shares tumble as Canopius walks away
The field is clear for Mark Byrne to pursue his partial takeover of Lloyd's (re)insurer Omega after rival bidder Canopius indicated that it was dropping out of the running.
20 October 2011
Woodford torpedoes Canopius bid for Omega
Mark Byrne is in prime position to consummate his deal to take a minority position in Omega after dominant shareholder Neil Woodford of Invesco Perpetual gave his blessing to the Flagstone Re founder's stakebuilding.
20 October 2011
Byrne poised to sweeten Omega offer
Mark Byrne's financial vehicle Haverford is set to revise its partial offer for Omega in a bid to head off criticism from some shareholders, The Insurance Insider can reveal.
20 October 2011
Brown & Brown unveils $100mn share buyback
New York-listed broker Brown & Brown has told investors that it will look to repurchase up to $100mn of stock over the next 12 months
20 October 2011
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