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  • A Malta-based reinsurer was launched in December to provide capital relief to captives with long-tail legacy liabilities.
  • Randall & Quilter's (R&Q) settlement with Equitas over modelled losses for £1bn+ of LMX spiral liabilities is likely to lead to a £4mn deficit for 2009, according to analysts.
  • 2009 was not quite the bonanza that many had been predicting for the legacy industry, but it was punctuated by a series of significant events that will shape the market in 2010 and beyond.
  • Bermudian Harbor Point renewed its affiliated collateralised retro facility New Point III Ltd for 2010 with capacity offering aggregate limits totalling up to $100mn.
  • The newly launched Perils European windstorm industry loss index was chosen as the trigger on two industry loss warranty (ILW) contracts.
  • The insurance-linked securities (ILS) market in 2010 could exceed $5bn in fresh transactions, after a record $1.7bn of issuance in the fourth quarter of 2009.
  • Analysts at the major reinsurance brokers are unsure when the controlled softening witnessed at 1/1 will start to hurt reinsurers' results and put them under enough pressure to turn the rating cycle upwards again.
  • As the tide goes out on a turbulent 2009, with the currents and counter-currents of its muddy financial floodwaters still burbling under the surface, one market theme has remained remarkably constant - the rediscovery of the subscription market
  • Beazley has changed its regulatory capital currency to match its underwriting exposures, increasing the dollar proportion by $487mn.
  • Alan Lovell has won the bitter contest to become the external member representing Names on the Council of Lloyd's, The Insurance Insider can reveal. Lovell is the preferred candidate of the Association of Lloyd's Members.