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CRC: Ryan 'poached more than $575mn of premiums'
US wholesale broker CRC has claimed that RT Specialty's mass hire in 2010 cost the company around $575mn in annually placed business, according to court documents.
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
Groupama loses crucial A- rating on Greek fears
French mutual insurance group Groupama's insurer financial strength rating has been downgraded from A- to BBB+ by Standard & Poor's (S&P) because of its "material exposure to Greek government bonds".
16 May 2011
Citizens’ $580mn reinsurance return signals policy change
Citizens Property Insurance Corporation's return to the private reinsurance market after a two-year hiatus to purchase up to $580mn of cover has raised hopes that Florida's state-backed insurer will become a consistent buyer of the product.
16 May 2011
WR Berkley launches London market reinsurer
WR Berkley Corp has announced the launch of a London market reinsurer that will begin underwriting in the fourth quarter of 2011.
16 May 2011
Pricing set to double for EQC renewal
The portion of the New Zealand Earthquake Commission (EQC)'s reinsurance programme that renews at 1 June will see a 130 percent premium increase, market sources explained to The Insurance Insider last week.
16 May 2011
White Mountains to launch Lloyd’s insurer
Bermudian reinsurer White Mountains looks set to end its lengthy wait to enter the Lloyd's market with a syndicate primed for a 1 July start, The Insurance Insider can reveal.
16 May 2011
Groupama loses crucial A- rating on sovereign debt fears
French mutual insurance group Groupama's insurer financial strength rating has been downgraded from A- to BBB+ by Standard & Poor's (S&P) because of its "material exposure to Greek government bonds".
16 May 2011
Berkley Re launched with QBE duo
WR Berkley Corp is launching a London market reinsurer that will begin underwriting in the fourth quarter of 2011
16 May 2011
AM Best expects US reinsurance rates to harden at 1.7
AM Best has thrown its weight behind the growing 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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