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  • The New York Insurance Department (NYID) is taking comments on its proposals to create a new collateral framework for alien reinsurers not authorised in the state.
  • Legislation to extend the US National Flood Insurance Program (NFIP) was signed into law by President Obama on 30 September after gaining approval on Capitol Hill late last month.
  • The overall colour coding for Lloyd's insurers has deteriorated following the completion of another key date in the Corporation's Solvency II implementation programme, The Insurance Insider understands.
  • Investor appetite for extreme mortality exposure is about to be tested with a new offering of notes under Swiss Re's long-standing Vita series of transactions.
  • French investment bank Société Générale launched a contingent capital facility for (re)insurers last month only weeks after Gallic reinsurer Scor secured a three-year EUR150mn contingent capital deal from Swiss bank UBS.
  • Groupama and Axa have issued 2010 Euro wind bonds, with investors keen to diversify their securitised cat exposures
  • Demand to ringfence profits following light Q3 storm losses
  • Despite the controversy the consensus seems to be that contingents will be a shadow of what they were, because global brokers have found alternative methods to extract revenues from the (re)insurance transaction
  • As London's independent wholesalers file their 2009 accounts it has become apparent that the key dividing line on performance is between the debtless and the indebted.
  • Although Spitzer did not cripple them in the same way as their insurance broking brethren, reinsurance intermediaries housed in the big three have also faced the challenge of dwindling top line growth opportunities and margin squeeze in the soft market.