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  • PartnerRe has reported a slump in Q4 net profits as investment writedowns combined with catastrophe losses to hit its bottom line
  • London market broker Howden, a subsidiary of private-equity backed Hyperion Insurance Group, agreed the transfer of Benfield Corporate Risk’s (BCR) John Plummer-led US wholesale property and casualty team, as predicted by The Insurance Insider.
  • Berkshire Hathaway had the lowest direct incurred loss ratio among the top 20 US excess and surplus (E&S) writers by direct premiums earned in both 2012 and 2011.
  • The Conservative Party treasurer and former Jardine Lloyd Thompson Group plc director Jonathan Marland has led an investor group of City grandees that has acquired the Lloyd’s investment fund manager, Insurance Capital Partners LP (ICP).
  • Markel suffered a poor third quarter with the insurer feeling the impact of hurricanes from the last two seasons. The American firm announced a net loss of $111mn or $11.31 per diluted share, compared to a profit of $13.8mn, or $1.40 a diluted...
  • First-time cat bond sponsor American Coastal Insurance Company is seeking to raise $183mn+ from its new Armor Re deal
  • Investment banks are the architects of their own downfall through the collapse in the US sub-prime mortgage market, according to Warren Buffett.
  • US broker AmWins has reached a court-ordered truce with Ryan Specialty Group (RSG) and its new wholesale broking arm, R-T Specialty, over litigation sparked by a defecting broker.
  • Lloyd’s post-Equitas open year liabilities increased by £0.3bn last year and have become the “elephant in the room” of UK run-off, according to Philip Grant, chairman of the Association of Run-off Companies (ARC).
  • XL D&O dispute heads for court; ALAS settles with reinsurers The acrimonious dispute between reinsurance broker RK Carvill and its former client XL Professional Liability over its disputed D&O treaties is set for an October 2005 show-down.