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Cat futures bill stalled in Florida Senate
An attempt by the Insurance Futures Exchange (IFEX) to have cat derivatives recognised as reinsurance by Florida regulators failed to pass into law before the legislative session closed.
04 June 2010
Soros’ Q Re hires Lancashire retro head
Bermudian (re)insurer Lancashire Group's head of retro, Bryan Bumsted, has resigned to join George Soros-backed Q Re, Trading Risk revealed late last month.
04 June 2010
Late push sees $2.4bn ILS capacity into US wind season
Six cat bonds valued at more than $1.5bn were released in a late May rush of insurance-linked securities (ILS) issuance, taking total capacity available to (re)insurers at the start of the US hurricane season to $2.4bn.
04 June 2010
Industry also reels from $235mn Venezuela rig loss
The Deepwater Horizon oil spill was followed swiftly by the loss of the Aban Pearl gas rig off the coast of Venezuela on 13 May, which is set to cost the market some $235mn.
04 June 2010
OIL big winner after Horizon loss
Energy mutual OIL is set to emerge as a winner following the Horizon loss as capacity tightens across the market, The Insurance Insider understands.
04 June 2010
Crist veto double-edged
Florida Governor Charlie Crist's populist veto of the state property insurance bill has set him against his own insurance commissioner and denied measures that would have played well with voters.
04 June 2010
(Re)insurers warned to batten down hatches
As the 1 June ushered in the official start to the US hurricane season, all of the major weather forecasters were united in predicting a higher than average chance of storms making landfall
04 June 2010
Who owns Lloyd’s?
Between them 13 heavyweight investors own just under half of the publicly traded Lloyds insurers' equity, The Insurance Insider can reveal.
04 June 2010
IAG in UK motor crash
Motor underwriter Equity's Syndicate 218 could lose almost £200mn on its 2008 and 2009 years of account after a dramatic deterioration in its claims experience.
04 June 2010
Lloyd’s readies Chile away team
Lloyd's is in the final stages of assembling a delegation of underwriters, brokers and loss adjustors to dispatch to Chile
04 June 2010
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