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  • (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
  • George Osborne, the UK Chancellor of the Exchequer, buoyed the UK (re)insurance industry in his annual address to the City of London
  • 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
  • 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
  • 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
  • Catlin Re Switzerland has established a branch office in Madrid to write treaty reinsurance from 1 July
  • 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
  • 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.
  • 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
  • Global reinsurer Swiss Re has appointed J Eric Smith as president and CEO of its operations in the Americas