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(Re)insurers’ lobbying wins concessions from UK government
(Re)insurers will be regulated in a way that reflects the "distinct nature" of the risks they face, the UK government has said in a major boost for the UK insurance industry
16 June 2011
UK Chancellor cheers industry in Mansion House address
George Osborne, the UK Chancellor of the Exchequer, buoyed the UK (re)insurance industry in his annual address to the City of London
16 June 2011
TWIA reform clears Texas house
A proposed reform of major residual market the Texas Windstorm Insurance Association (TWIA) has cleared its first hurdle after the state house approved a bill that will apply tougher controls to policyholders seeking financial redress in the courts
16 June 2011
Airline market premium grew 4% in difficult 2010
Airline insurance premiums rose 4 percent in 2010 – equivalent to $80mn, as insurers took on more risk, according to a report from global broker Willis
16 June 2011
ILW price spike on retro shortage
Prices for peak US wind industry loss warranties (ILWs) have risen by 5 to 25 percent this year on high loss tolls, wind model changes and a shortage of retro capacity, according to JLT Re
16 June 2011
Catlin’s Swiss reinsurer opens Madrid office
Catlin Re Switzerland has established a branch office in Madrid to write treaty reinsurance from 1 July
16 June 2011
US P&C reserve buffer holds steady at $22bn
Excess reserves at US P&C (re)insurers will continue to provide a headwind against a turn in the cycle, as good loss experiences from prior years buffer recent events, according to a report by Aon Benfield Analytics
16 June 2011
Argo closes $100mn cat bond
Bermudian reinsurer Argo Re has secured $100mn of second event multi-peril cover with its first cat bond, Loma Re, sister title Trading Risk revealed.
15 June 2011
NZ politicians dismiss $5bn aftershock estimate
New Zealand's prime minister and finance minister have thrown doubt over insured loss estimates for the latest Christchurch aftershocks from modelling firm Eqecat, according to local media reports
15 June 2011
New Americas CEO for Swiss Re
Global reinsurer Swiss Re has appointed J Eric Smith as president and CEO of its operations in the Americas
15 June 2011
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