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Guernsey draws positive response to SII equivalence rejection
Guernsey has received increased interest from captives and reinsurers looking for a new domicile after deciding not to seek Solvency II (SII) equivalence, according to Peter Niven, CEO of promotional agency Guernsey Finance.
04 April 2011
UK government offers reassurance on anti-bribery legislation
The UK government has unveiled implementation plans for new bribery laws and published final guidance for all commercial organisations with a UK presence on complying when the legislation comes into effect on 1 July.
04 April 2011
Collateralised retro reload could face challenges
Raising new funds could be a challenge for many collateralised reinsurers as questions remain over how much of their capital has been tied up in recent disaster losses, Willis Re said in a report on the April reinsurance renewals.
04 April 2011
Cat bond ratings under microscope
The 11 March Tohoku earthquake and tsunami appear set to activate a number of cat bonds providing second-event cover, including Swiss Re's Vega Capital 2010, Flagstone's Montana Re 2010 and Platinum's Topiary Capital.
04 April 2011
Lloyd’s puts pre-2006 non-life open years to bed
The number of "open years" at Lloyd's has fallen by over 90 percent in the last six years, figures presented by the Society show, with all non-life syndicates prior to 2006 now closed.
04 April 2011
Names capital continues to shrink
The proportion of Lloyd's underwriting capital provided by Names has continued to shrink, the Society's annual results show.
04 April 2011
Lloyd’s takes largest NZ I hit
Lloyd's ultimate losses from the first Christchurch earthquake last September are expected to come to £428mn ($684mn), which is the biggest single insured loss estimate for the event.
04 April 2011
Motor hits Lloyd’s with $500mn losses
The poor performance of motor underwriters has cost Lloyd's more than £500mn - which is equivalent to almost a quarter of the market's pre-tax profits in 2010.
04 April 2011
Lloyd’s energy sector in profit despite 2010 losses
The energy sector at Lloyd's performed well in 2010, despite a number of man-made losses throughout the year.
04 April 2011
Lloyd’s aviation lines soar
Premiums in Lloyd's expansive aviation segment have grown by more than 60 percent in five years, while annual re-rating pressures continue to provide a challenging environment for underwriters.
04 April 2011
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