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Industry leaders debate ‘invisible’ hard market
A consensus is emerging among industry leaders that the much championed (re)insurance hard market – flagged up in countless bullish interim reports since the end of 2008 – is turning into a mirage.
03 September 2009
Moody's upgrades $140mn of Brit cat bond as maturity nears
Ratings agency Moody's Investors Service has upgraded two tranches of notes on Brit Insurance's 2007 cat swap deal, Fremantle Ltd, as the likelihood of a loss diminishes while the transaction moves closer to maturity in June 2010.
02 September 2009
Financial Crisis Claims to Peak in 2011
The volatile combination of the subprime, credit and economic crisesand hurricanes Gustav and Ike has contributed to a 15 percent rise innew claims in the first quarter of 2009 against the same period last year – a figure which represents the beginning of a claims surge likely to peak inapproximately two years, according to industry leaders.
01 September 2009
Great Expectations Delayed…
The tsunami of new run-off business that was widely forecast to swampthe industry in the wake of the global credit crunch is yet to materialise,prompting legacy leaders at the market's largest event - the Cavell Commutations Rendez-Vous in Norwich, UK - to discuss the gulf between expectation and reality.
01 September 2009
Capacity Crunch Averted
With the reinsurance market poised to renew crucial 1.7 US programmes as IQ went to press, it was clear that the demand supply equation has found a better balance than widely predicted.
01 September 2009
The Detangle Challenge
Insurers are not banks. They need to prove it before they are caught in the ‘financial institutions' net.
01 September 2009
Hannover closes first fac sidecar; $60mn Fac Pool Re
Hannover Re has launched a pioneering $60mn sidecar-style vehicle, Fac Pool Re - the first dedicated, securitised facility created for facultative exposures.
01 September 2009
Ironshore completes $300mn capital raise
Bermuda-based (re)insurer Ironshore has completed a $300mn capital raise to support the growth of its specialty insurance business.
01 September 2009
AIG and Greenberg to arbitrate disputes; Starr wins further round
American International Group and its former executives Maurice "Hank" Greenberg and Howard Smith have agreed to settle their various legal disputes by arbitration.
01 September 2009
Dubai Gears Up for Captives
The Gulf region took another step towards developing a fledgling captive insurance sector last month as the DIFC hosted a February 2009 seminar on the subject.
01 September 2009
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