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1.6 Florida renewal rates up 15 percent, says Guy Carpenter
Despite a drop-off in overall reinsurance capacity for 1 June renewals compared to 2007 and 2008, average Florida property catastrophe reinsurance rate rises were a less-than-expected 15 percent, as increased demand failed to outstrip...
01 June 2009
UK insurance rates still softening in Q1 2009
Insurance rates in the UK continued to fall across all major lines of business in the first quarter of 2009, further squeezing insurer margins, according to insurance broker Marsh.
01 June 2009
Transatlantic Re sell off is 'best outcome' for clients
American International Group's plan (AIG) to sell down its majority stake in affiliate Transatlantic Re is probably the "best outcome" for its clients, according to market sources.
01 June 2009
Equitas v Brandywine showdown again delayed
The three-week trial in the long running dispute between Berkshire Hathaway's Equitas and R&Q-owned Brandywine has been further delayed from the 8 June to the 15 June.
01 June 2009
Swiss Re highlights QS surplus relief trend
There was further evidence of the trend for increased use of quota share-style transactions to shore up balance sheets last week as Swiss Re predicted a 5 percent, or $10bn, increase in revenues for reinsurers from the business in 2009.
01 June 2009
Axa lead on missing Air France plane
European insurance giant Axa is the lead on the insurance policy for the Air France plane carrying 228 passengers which went missing over the Atlantic Ocean shortly after taking off from Rio de Janeiro...
01 June 2009
CEA strongly supports EC supervisory structure
The European insurance and reinsurance federation, the CEA, has announced its strong support for proposals from the European Commission (EC) for a new EU financial supervisory architecture...
01 June 2009
Enstar to buy Copenhagen Re for $28mn
Bermuda-headquartered run-off manager Enstar has announced a definitive agreement to purchase defunct Danish reinsurer Copenhagen Re for $28mn, trumping fellow shortlisted bidders Compre and Catalina Holdings.
01 June 2009
Brokers point to Florida rate rises of up to 15% in 'orderly' renewal
Reinsurance broking giants Aon Benfield and Guy Carpenter pointed to average rate rises at 1.6 Florida renewals that were below predictions earlier in the year, as "adequate" private market capacity combined with lower demand from carriers and increased.
01 June 2009
RenRe adds to Florida capacity with $60mn Timicuan Re II launch
Alongside traditional reinsurance capacity entering the Florida market at the 1.6 renewal, Bermudian reinsurer RenaissanceRe has relaunched its Timicuan Re sidecar...
01 June 2009
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