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HIH collapse to cost Lloyd’s more than £250mn
A confidential settlement between Lloyd's and Names unfortunate enough to be on the Cotesworth syndicates has pushed the total cost of the HIH bankruptcy to the Lloyd's market over £250mn, according to research by The Insurance Insider.
13 January 2010
Lloyd’s opens decade with £23bn stamp
Lime Street plans to write more business than ever before – and it is not just because of the feeble sterling.
13 January 2010
Shelbourne and RSM in frame for open year deals
The active Lloyd's reinsurance-to-close (RITC) market looks set to continue, as a number of quotations to close open year syndicates at 31 December 2009 are currently under consideration.
13 January 2010
Market 'softening but not soft'
Reinsurers gave in to a controlled reduction of prices at the 1 January renewal, with prospects for any generalised upturn unlikely in 2010, according to leading reinsurance brokers' reports.
13 January 2010
US buyers suck $600-$750mn out of short-tail market but AIG bucks trend
The largest quoted buyers of short-tail reinsurance -– including Zurich, Liberty Mutual and Ace – removed $600mn- $750mn out of this market at 1/1, according to senior sources.
12 January 2010
Florida cat fund concerns return
Concerns remain over the Florida Hurricane Catastrophe Fund (FHCF) and its claims paying ability in the event of a major hurricane, potentially stimulating additional demand for private reinsurance from the state's insurers.
12 January 2010
RI3K in talks with IBM as Aon considers its future
The start of 2010 is set to be crucial for the London market electronic trading platform RI3K, which is seeking fresh investment as it continues to lose money.
12 January 2010
Gloomy prospects for M&A uptick in 2010
As The Insurance Insider revealed earlier in the month, Bermudian (re)insurance groups Aspen and Ariel have broken off merger talks - becoming the latest in a long line of mooted deals that failed to reach fruition in 2009
12 January 2010
Omega shareholders in no mood to compromise
Once a new chairman is ensconced, he will need to decide on future return of Omega's underwriting maven John Robinson.
12 January 2010
RenRe to back Rowell syndicate launch
Former Beazley head of specialty lines Johnny Rowell is close to returning with a start-up Lloyd's syndicate after 18 months out of Lime Street.
12 January 2010
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