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  • Directors' and officers' (D&O) insurance lines could become unprofitable for carriers if current market trends continue, according to ratings agency Standard & Poor's
  • Australian (re)insurance giant QBE has been hit with a proposed class action suit in Florida over its force-placed insurance business, along with some of its subsidiaries and US bank Wells Fargo
  • Florida regulators have permitted insurer State Farm to hike homeowner rates by an average of 18.8 percent across the state, according to reports
  • Sean Genden has been promoted to CEO of Travelers' European operations, with responsibility for its Lloyd's platform and its general UK insurance company, as part of a new management structure
  • Japan has raised the Fukushima Dai-Ichi nuclear power plant crisis to the highest level on the International Atomic Energy Agency (IAEA)'s International nuclear and radiological event scale (INES)
  • Lloyd's takeover target Omega has informed investors that its likely losses from first-quarter catastrophes stand at $45.7mn
  • Swiss-based (re)insurer Allied World Assurance Company expects $75mn in pre-tax losses and loss expenses from last month's devastating earthquake and tsunami in Japan.
  • Platinum Underwriters has become the latest reinsurer to put a loss figure out for last month's Tohoku earthquake and tsunami as it said its Q1 financials will take a net negative hit of $87mn from the disaster.
  • Global security and insurance intelligence group G4S, has announced the acquisition of UK fraud investigator The Cotswold Group.
  • The Argenta syndicate at Lloyd's led the catastrophe reinsurance programme for a small New Zealand insurer that has collapsed under the weight of claims from the Christchurch earthquake.