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  • Last week's vast $4.1bn reserving charge at AIG was immediately seized as evidence that the end is nigh for this US P&C soft market cycle and that pricing will be rising by 2012.
  • As attention turns towards continental Europe's reinsurance giants, the picture from US, Bermudian and early Lloyd's reporters is of marginally better-than-expected Q4 results but grim prospects for the start of 2011
  • Insurance Australia Group (IAG) has issued a profits warning covering the six months to 31 December 2010 after it suffered a further A$121mn loss from Lloyd's motor insurer Equity Redstar
  • The Obama administration has today (11 February) laid out proposals for winding down mortgage giants Freddie Mac and Fannie Mae that could significantly increase demand for earthquake (re)insurance and reshape the wider US cat market
  • Bermudian reinsurer Validus is in advanced takeover talks with privately held class of 2005 reinsurer Ariel, The Insurance Insider can reveal
  • Lloyd's (re)insurer Novae Group is to part company with its group chief underwriting officer Peter Matson
  • Bermudian short-tail specialist Montpelier Re drew more than 97 percent of its 2010 underwriting income from reserve releases as claims came close to doubling
  • Validus saw its full-year underwriting returns deteriorate by 46 percent to $242mn after its loss expenses increased sharply
  • Ratings agency Fitch has downgraded the insurer financial strength ratings of American International Group's (AIG) domestic non-life subsidiaries from A+ to A.
  • Scor has increased its gross written premium for its 1.1 renewals by 13 percent to EUR 2bn as the French re(insurer) continues to gain from its recovering market position.