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NFIP reform limps on
US lawmakers have avoided yet another lapse of the beleaguered National Flood Insurance Program (NFIP) after the House of Representatives voted to extend the programme through to mid-November
05 October 2011
Mariah I downgraded as tornado losses rise
Ratings agency Standard & Poor's (S&P) has downgraded the tornado bond Mariah Re 2010-1 by a notch to CCC with a negative outlook after covered losses rose to $790mn
05 October 2011
Revised BI claims push up major 2011 energy losses
Estimated insured losses from two of this year's largest energy claims have increased significantly due to an increase in business interruption (BI) claims
05 October 2011
Major insurers plan job cuts
US insurance giants AIG and The Hartford are both reportedly cutting jobs, as the unpredictable economic situation compounds the heavy disaster loss toll experienced by (re)insurers this year.
05 October 2011
Tornado bond payout
Investors in the $100mn tornado bond Mariah II will shortly pay out $35mn to bond sponsor American Family.
04 October 2011
Scor launches ILS fund
French reinsurer Scor has officially opened its Atropos insurance-linked securities fund to third party capital, as predicted by Trading Risk last year.
04 October 2011
International digest
The end is nigh...?; Employers walks; BB&T expands; Harleysville goes Nationwide; Greenlight upgraded; Chubb-y Irene losses; The world's local $1bn sale...
04 October 2011
London digest
Xchanging buys out Aon back office; Lloyd's auctioneering; Probe threat recedes; Sagicor's casualty; Heavy Hampden H1; Wade roars...
04 October 2011
Brit adds to Lime Street allure with business reshuffle
Brit Insurance's Syndicate 2987 will expand in 2011 and 2012 as the Apollo-CVC owned UK insurer deliberately transfers business away from its UK platform, Brit Insurance Ltd (BIL), and into Lloyd's
04 October 2011
Berkshire leads capital management with surprise repurchase plan
Berkshire Hathaway stock rose sharply late last month after it announced an open-ended share repurchase programme, signalling that it believes it is currently undervalued by the stock market
04 October 2011
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