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State Farm in Florida u-turn
State Farm Mutual has pulled its plans to exit the property insurance market in Florida, marking a major change in tack for the US home insurance giant.
22 December 2009
Orderly renewal sees tempered discounts at 1/1
As firm order 1/1 terms are placed around the market, a picture of a stable renewal season, with modest discounts available for renewals of clean treaty programmes across the reinsurance spectrum...
22 December 2009
People moves
Skinner joins Validus board; Malik joins ARS; Kane hires Aon exec
17 December 2009
News in brief
Q-Re gains Qatar's first reinsurance licence; Validus cements Singapore presence; Willis shareholders rubber stamp Ireland move
17 December 2009
Japanese market facing $617mn Melor bill
Typhoon Melor, which made landfall as a category one storm in Japan during October, has resulted in incurred claims of Yen55bn ($617mn), according to an announcement by the General Insurance Association of Japan last week.
17 December 2009
E&Y warns that UK bonus windfall tax could hit (re)insurers
Global accountancy firm Ernst & Young has warned that the initial draft of the UK government's proposed one-off windfall tax on bankers' bonuses casts a far wider net over UK financial services firms, including Lloyd's managing agents.
17 December 2009
Tolle departs with rare Lloyd's honour
There have only been ten holders of Lloyd's silver medals in the market's long history, but last week an 11th recipient was honoured in the form of retiring Lloyd's Franchise Performance Director Rolf Tolle.
17 December 2009
Global insurance index formed by World Bank
A Global Index Insurance Facility (GIIF) to enable clearly defined natural catastrophe/weather related insurance cover for the developing world was launched last week by units of the World Bank.
17 December 2009
Pay czar cracks down on second-tier AIG executives
US "pay czar" Kenneth Feinberg has capped the annual cash salaries for American International Group (AIG) employees at $500,000 as part of a move on "second tier" executive pay at bailed out corporations.
17 December 2009
Montpelier launches MGA Paladin
Bermudian Montpelier Re Holdings has launched a London-based managing general agent that will underwrite on behalf of its Lloyd's Syndicate 5151, together with other carriers.
17 December 2009
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