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FSA announces second successive 10% budget hike
UK regulator the Financial Services Authority (FSA) unveiled a 10.1 percent budget increase for the upcoming financial year as the cost of a more intrusive regulatory regime mounts.
07 February 2011
FSA’s annual Solvency II spend to hit £46mn
Solvency II implementation spending by UK regulator the Financial Services Authority (FSA) will amount to £46.4mn in the financial year starting 1 April 2011.
07 February 2011
D&O insurers vulnerable to repeat of 1998-2002 difficulties
Soft market pressures and a reduction in the use of reinsurance have left the directors' and officers' (D&O) sector vulnerable to a repeat of the pain it suffered in the late 1990s and early 2000s.
07 February 2011
JPMorgan tests investors with longevity innovation
Investment bank JPMorgan completed an innovative longevity hedge last month, with capital markets investors welcoming its short-term duration.
07 February 2011
Novae poised to say goodbye to its legacy past
Novae Group, the Lloyd's insurer nearly brought to its knees 10 years ago by a torrent of US casualty reinsurance exposures, looks set to announce that it has finally dealt with its legacy past
07 February 2011
Excess D&O insurers must change pricing model
Directors' and officers' (D&O) underwriters need to change the way they price the excess layers on towers of insurance coverage to avoid the pitfalls of past soft markets.
07 February 2011
Duperreault: ‘Market psyche' can turn pricing
The catalyst for a turn in the pervasive soft market conditions of the insurance underwriting cycle does not have to be a major event, according to MMC chairman and CEO Brian Duperreault.
07 February 2011
Mapfre shrugs off EUR106.1mn Chile hit
Mapfre achieved an 8.7 percent increase in revenues for full-year 2010, despite a EUR 106.1mn hit from the Chilean earthquake.
07 February 2011
Ace cat hit estimate for 2011 $370mn
Global specialty insurer Ace has revealed a threefold increase in pre-tax catastrophe losses for 2010 to more than $400mn, along with guidance that this figure for 2011 already stands at $370mn.
07 February 2011
2010 cats drag Munich Re to loss
Munich Re's full-year profits slid by 5 percent to EUR2.43bn as it reported that catastrophes had cost it EUR495mn in the final quarter of 2011 and pushed its full-year combined ratio over 100 percent.
07 February 2011
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