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Reserve releases show signs of drying up
The cycle has reached a point where reserve releases are no longer masking poor underwriting results stemming from declining rates and rising claims, according to Stifel Nicolaus analysts.
16 May 2011
Ryan: Lloyd’s will treat us differently but that’s fine
Aon founder Pat Ryan is sanguine about being treated differently by Lloyd's as he is poised to become the first broker to own a syndicate in almost 30 years.
16 May 2011
Gallagher becomes major UK retailer after Heath Lambert deal
Arthur J Gallagher International has closed its long-running takeover of UK broker Heath Lambert, a move which will catapult the group into the top ten UK insurance brokers by revenue, leapfrogging fellow London-based peer Lockton.
16 May 2011
Hard market at least two years away: Arch Capital
Despite the flurry of international and US catastrophe losses the industry is still awash with excess capital and those anticipating an imminent turn could be in for a long wait.
16 May 2011
Florida cat reinsurance rates to rise by 10-15%
Florida property catastrophe reinsurance rates are expected to increase by 10 to 15 percent at mid-year renewal, according to TigerRisk CEO Rod Fox.
16 May 2011
Rates debate takes centre stage in New York
The debate over the impact record Q1 catastrophes and model changes are having on the reinsurance market took centre stage in New York last week.
16 May 2011
Digest
Management reshuffle as Paraline looks to grow platform; Cooper Gay UK merges energy and non-marine leadership; AHJ boss Price relinquishes CEO role; BP doubles captive loss limit after $590mn Deepwater hit
16 May 2011
Lloyd’s cat losses exceed 2010 premium by $1.6bn
Lloyd's $3.8bn of catastrophe losses from Japan, New Zealand and Australia exceed its estimated 2010 premium base for those three countries by $1.6bn, analysis from The Insurance Insider shows.
16 May 2011
£313mn Chaucer buy-out to close by end of June
If The Hanover's bid to take over Lloyd's insurer Chaucer plc is successful, shareholders in the UK-listed firm will receive their cheques on or around 15 July.
16 May 2011
AM Best predicts mid-year rate hardening
AM Best has thrown its weight behind the growing mass of opinion that US reinsurance rates will harden at the 1 July renewals, leaving Aon Benfield as almost the lone dissenting voice.
16 May 2011
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