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  • Strong earnings but falling top-line figures were the dominant features of first quarter results from Bermuda’s public (re)insurers as pipeline profits from the end of the hard market were countered by growing signs of softening underwriting conditions.
  • PXRE’s future in Lloyd’s is called into question as stiff penalties over the management of its syndicates are imposed. It was with no small trumpeting of praise and self-congratulation that Lloyd's announced the formation of the first captive underwri
  • At a time when the London insurance market is attempting to address its failures to deliver policy wordings on time, one risk manager has raised the possibility of paying more if it ensures contract certainty takes place.
  • AIG's prolonged efforts to sell its ILFC aircraft leasing business to a consortium of Chinese investors are continuing despite setbacks that have stalled the deal on the runway, the Wall Street Journal (WSJ) reported yesterday (10 October)
  • Flagstone Re turned around 2008 losses to post a net profit of $242mn last year, as it enjoyed strong underwriting and investment returns.
  • Equity Syndicate 218's losses from its misfiring motor book are likely to reach £480mn, figures released by Equity Syndicate Management Limited suggest.
  • Insured catastrophe losses this year are estimated to have hit $50bn, making 2008 the second costliest on record, according to research from Swiss Re.
  • Expansive broker Gallagher International will open a facultative reinsurance operation in Brazil after purchasing local reinsurance broker Securitas Re.
  • The long awaited conclusions of the European Commission’s (EC) probe into alleged anti-competitive practices employed by aviation insurers in the aftermath of 9/11 were revealed last week along with a series of binding reforms to “promote competition and
  • Ratings agency Standard & Poor’s has responded to criticism of its recent reinsurer downgrades, explaining that poor long-term profitability, and not just a lack of capital adequacy, was the catalyst for its actions.