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  • Willis Re is losing Colin Kiddie, who headed the firm's ILW operations, to rival Guy Carpenter only a week after promoting the executive to head its specialty business.
  • Cat bond sponsors Swiss Re and Axa closed their latest bond issuances above initial sales targets, as insurance-linked securities (ILS) investors scurried to pick up diversifying assets after a higher than usual concentration of peak US hurricane sales earlier this year.
  • American Family Mutual Insurance, one of the largest mutual property and casualty insurers in the US, is bringing a cat bond to the market for the first time.
  • International property cat reinsurance is continuing to be a source of woe for underwriters, with the pile-up of 2010 losses doing little to affect soft market conditions in the sector.
  • A major systemic casualty clash loss is a likelier catalyst for market cycle change than a property catastrophe, according to Aon Benfield Analytics CEO Stephen Mildenhall.
  • The soft market enveloping the global reinsurance industry is placing increased pressure on underwriters to loosen terms and conditions of cover.
  • Amid the soft market gloom, delegates at the PCI annual convention in Colorado Springs found some grounds for optimism on growth opportunities for reinsurers.
  • The Caribbean Catastrophe Risk Insurance Facility (CCRIF) expects to pay out more than $10mn to Barbados, Saint Lucia and St Vincent & the Grenadines after Hurricane Tomas buffeted the islands over the weekend.
  • Risk modeller RMS says the severe storm system that hit the Midwest US last week does not appear to have caused major damage despite creating near-record low pressure readings for a non-tropical storm.
  • Allied World Assurance Company has lured senior Platinum Underwriters reinsurance executive Kevin Marine to join its US reinsurance platform, The Insurance Insider can reveal.