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Mixed reception as Amlin ramps up with Fortis deal
Amlin plc – which has twice been in the running to buy fellow Lloyd's (re)insurer Chaucer – has at last found a target for its surplus cash, with a deal to buy Fortis Corporate Insurance NV (FCI) from the Dutch state.
08 June 2009
New Hannover CEO faces ratings challenge
Standard & Poor’s (S&P) has cited Hannover Re’s retro strategy as a factor in deciding to downgrade the outlook to negative on the reinsurer’s AA- credit and insurer financial strength ratings.
08 June 2009
US WIND - Florida and early July renewals temper US cat expectations
With Florida insurers enjoying an easier-than-expected time at the 1.6 renewal of reinsurance programmes, all eyes are turning to 1.7 - which brings broader non-Florida specific US cat and international business into focus.
08 June 2009
'Terrible trio’ blamed as US P&C pricing falls 6 percent in May
The US P&C market is being dragged down by a macabre contest between a group of three “desperate insurers” slugging it out in a classic end-of-soft-market scenario.
08 June 2009
Buffy
Buffy is troubled by a ratings downgrade and an expert appointment.
08 June 2009
Trading Risk briefs
Blue Coast and Nelson Re trade down; Ajax Re latest Lehman TRS bond default; Babcock in ILS first with pension longevity swap
08 June 2009
New (re)insurance law firm arrives in EC3
A new specialist (re)insurance law firm - Carter Perry Bailey (CPB) - opened its doors for business on Lloyd’s Avenue at the beginning of June.
08 June 2009
Santander settlement could harden international D&O rates
The $235mn settlement agreed by Banco Santander over its Madoff exposures could increase pressure to force rates upwards in the international directors' and officers' (D&O) markets if a full loss comes in on the bank's cover.
08 June 2009
M&A: ‘Reality has returned to the buyer market’
According to the consensus of a collection of senior industry figures, the days of a top-heavy market with large amounts of capital chasing transactions and pushing deals through at a premium to NAV are gone.
08 June 2009
London fearful of regulatory backlash
EC3 players worried financial crises will lead to unwarranted scrutiny; FSA assessments launched.
08 June 2009
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