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Asian pipeline next headache for credit reinsurers
Reinsurers with large exposures to Asia look set to take the largest future losses from the beleaguered credit (re)insurance sector, with those who wrote large additional lines in the facultative markets faring the worst, according to Paris Re CEO Hans-Pe
14 September 2009
Monte Carlo 2009 reveals a market for 'stockpickers'
The old market saying that "there is no such thing as a flat renewal" could have been made for this year's Monte Carlo Rendez-Vous, as an overall picture of a healthy but fragmented reinsurance market emerged.
14 September 2009
Omega cuts back 2010 expansion plans; exec reshuffle
Lloyd's insurer Omega Underwriting Agents Ltd is now planning to increase its 2010 Syndicate 958 capacity by 12 percent to £280mn (2009 £250mn) – less than the initial 20 percent pre-emption...
14 September 2009
Reinsurers form global lobbying group
An 11-strong group of reinsurers that includes Lloyd's of London and eight of the top ten global reinsurance groups used last week's Monte Carlo Rendez-Vous to launch a worldwide body to represent the industry with a unified voice.
14 September 2009
Fairfax closes $1bn fundraise to buy out Odyssey Re minority interests
Canadian combine Fairfax Financial Holdings Ltd closed its $1bn fundraising last Friday (11 September) as it prepares to buy out minority interests in its affiliated reinsurer Odyssey Re.
14 September 2009
Willis raids GCFac following Benfield hires
Hugh Powell, the head of GCFac's Latin American operations, has resigned from the facultative arm of reinsurance broker Guy Carpenter to join rival Willis, our sister publication Inside FAC revealed this morning.
14 September 2009
Hannover Re upbeat on specialty reinsurance rates
German reinsurance giant Hannover Re bucked the pervading downbeat mood on potential rate increases during last week’s Monte Carlo Rendez-Vous...
14 September 2009
Solvency II will fuel M&A; to benefit large reinsurers
Upcoming European regulatory overhaul Solvency II (SII) will have a "significant impact" on the competitive landscape and is likely to lead to casualties in future...
14 September 2009
PwC sees scheme opportunities in US
In the wake of the binding agreements used to sanction the Highlands scheme of arrangement, adviser PricewaterhouseCoopers sees further opportunities to use Chapter 15 relief as a way of tapping the US market.
14 September 2009
Lloyd's to open up Japanese direct platform
Lloyd's is restructuring its direct Japanese platform to create a model allowing all managing agencies in the market to access business written locally on a coverholder basis, The Insurance Insider revealed.
14 September 2009
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