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Mitsui Sumitomo recruits P&C underwriter
Mitsui Sumitomo at Lloyd's has appointed Graeme Rayner to lead its P&C underwriting as the firm continues to seek growth in its UK and Irish offerings
29 June 2011
US commercial property rates stabilising
The trend for deductions in US commercial P&C rates has ended and prices have now stabilised, according to a survey of large cap insurance buyers in North America conducted by Barclays Capital equities analyst Jay Gelb
29 June 2011
Chaucer shares set for last day of trading
Trading of Chaucer shares on the London Stock Exchange is set to come to an end at close of business tomorrow (30 June) after the courts gave the first of two necessary approvals to its £313mn takeover by US insurer The Hanover
29 June 2011
Mark Byrne targets Omega for return
Mark Byrne's investment vehicle Haverford is in takeover talks with Omega, as the Flagstone Re founder prepares a long-expected return to the market, The Insurance Insider understands
28 June 2011
Arch takes $76.5mn-$93.5mn Q2 cat hit
Bermudian reinsurer Arch is expecting a $90mn to $110mn negative impact on its second quarter results from Q2 catastrophe events and upward revisions to its first quarter cat losses
28 June 2011
Industry praises Obama’s FSOC nominee
(Re)insurers will get a seat at the top table of US financial regulation after President Barack Obama nominated former Kentucky Insurance Commissioner Roy Woodall to serve as the insurance member for the Financial Stability Oversight Council
28 June 2011
Tornado cat bond downgraded as losses soar
Ratings agency Standard & Poor's (S&P) has downgraded $100mn of cat bond notes as the loss tally from May's Joplin tornado threatened to trigger cover for cedant American Family Mutual.
28 June 2011
JLT buys control of Chile’s 4th biggest broker
London-headquartered Jardine Lloyd Thompson (JLT) has agreed to acquire a majority stake in Chilean broker Alta SA as the global broker continues to expand its Latin American presence
28 June 2011
Tornado losses push Hiscox H1 cat bill to £200mn
International and Lloyd's (re)insurer Hiscox has estimated it will take a £35mn hit from the recent tornado outbreaks in the US during April and May, pushing its total bill for H1 cat losses to around £200mn
28 June 2011
Zenkyoren to pay 50% more for cat treaty
Zenkyoren, the industry's largest cat reinsurance programme, is to renew up by around 50 percent when signings are completed this week, The Insurance Insider understands.
27 June 2011
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