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Cathedral expected to make underwriting profit in 2010 despite cats
Privately held Lloyd's underwriter Cathedral Capital's Syndicate 2010 is likely to turn a profit this year despite the high natural catastrophe toll in the first half, according to ratings agency AM Best.
25 October 2010
Battered PI insurers seek end to pricing pain
The recession may not have spiked professional indemnity (PI) claims to the levels originally feared - but rising levels of small-level claims are bruising PI insurers.
25 October 2010
ARP solicitors’ PI worries
The number of firms in the safety-net pool for solicitors' professional indemnity (PI) insurance has ballooned to 383 this year from 275 the year before.
25 October 2010
UK P&I Club holds general increase amid financial recovery
The UK P&I Club, one of the largest of the shipowner mutuals, will pursue another 5 percent general increase in shipowner premiums for 2011.
25 October 2010
Asia Pacific rates drop
The Asia-Pacific region has arguably the greatest global exposure to catastrophes but only buys around 22 percent of the total catastrophe excess of loss reinsurance purchased worldwide, broker Guy Carpenter has estimated.
25 October 2010
AIA Hong Kong IPO could raise $20bn+ for AIG
When shares in American International Group's (AIG) pan-Asian life insurance operation AIA begin trading on the Hong Kong Stock Exchange on Friday (29 October) they could yield the government-owned insurer as much as $20.5bn.
25 October 2010
ICAT management clinch buy-out through special vehicle
ICAT, the Lloyd's-backed US cat underwriter for Syndicate 4242, has announced its takeover by private equity-backed special vehicle Paraline.
25 October 2010
Premiums continue downwards, says CIAB
The fall this year in commercial property and casualty line premiums slowed in the third quarter but renewal rates continued to drop by an average of 5.2 percent, according to the Council of Insurance Agents & Brokers' (CIAB) quarterly survey.
25 October 2010
Claims record should be cheerleader for insurance, says Catlin
The Deepwater Horizon oil spill has given the under-appreciated insurance industry a chance to prove its value, Stephen Catlin argued at an Insurance Institute of London lecture last week.
25 October 2010
Goldman Sachs weighs redemption of Buffett shares
Goldman Sachs is mulling the redemption of $5bn of preference shares that Berkshire Hathaway purchased days after Lehman Brothers had collapsed in September 2008, according to The Wall Street Journal.
25 October 2010
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