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Extra capacity threatens marine market ballast
A sharp increase in extra capacity continues to flood the marine insurance sector, with all eyes on whether or not this will capsize the market.
05 January 2011
Property D&F market underperforms plans by 17%
Lloyd's property direct and facultative (D&F) underwriters missed the targets in their business plans by 17 percent in 2010, according to an internal Lloyd's document seen by sister title Inside FAC.
05 January 2011
2010 the sixth-worst cat year since 1980
2010 was the sixth-worst year for natural catastrophes in the last 30, with insured losses reaching $37bn, according to research published by Munich Re.
05 January 2011
ILW pricing down 20%
US wind prices on industry loss warranty (ILW) contracts have dropped by as much as 20 percent for certain triggers after the close of the hurricane season, according to broker Aon Benfield Global ReSpecialty.
05 January 2011
2010 cat bond issuance reaches $5.2bn
The closure of Swiss Re's $170mn Successor X cat bond ended a busy fourth quarter for the insurance-linked securities (ILS) market, with (re)insurers placing $2.2bn of bonds in the capital markets to contribute to a total of $5.2bn for the year.
05 January 2011
Kortis attracts full $50mn
Swiss Re has closed its Kortis Capital bond fully subscribed, raising $50mn from the first bond to securitise longevity risk.
05 January 2011
Parent of UK solicitors’ PI writer put on negative watch
The Ukrainian parent company of the ninth biggest carrier in the UK solicitors' professional indemnity (PI) market, Lemma, has been placed on negative watch by AM Best on concerns over its financial reporting.
05 January 2011
Ceiops bullish on growth and M&A
The Committee of European Insurance and Occupational Pensions Supervisors (Ceiops) has said that there is little prospect of (re)insurers achieving organic growth in 2011.
05 January 2011
Catlin Re secures strong AM Best rating debut
AM Best has given a strong ratings debut to the new Zurich-based reinsurance arm of Lloyd's and international (re)insurer Catlin Group, after Swiss regulators gave it the go-ahead earlier in the month.
05 January 2011
AIG takes $4.3bn credit line
American International Group (AIG) has taken a further step towards loosening its reliance on the US government with a new $4.3bn credit facility.
05 January 2011
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