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  • Insider Comment
  • The mining sector has hit a "watershed" following a spate of heavy losses accelerated by rising commodity prices that have decimated hard market profits.
  • A US federal appeal judge last week upheld the decision by Florida’s insurance regulators to bar Allstate Corp from writing new business in the state.
  • Lloyd’s (re)insurer Advent Underwriting Ltd has been dealt a blow by the sudden resignation of the chief underwriting officer of its Syndicate 780, Lloyd Tunnicliffe.
  • Alea Group CFO and COO, Kirk Lusk, has resigned from the Bermudian-headquartered run-off company.
  • A US federal court has denied AJ Gallagher & Co's January request for a temporary restraining order against start-up broker Edgewood Partners Insurance Center (EPIC) following the defection of several senior employees.
  • Munich Re confirmed the launch in March of its second ILS transaction this year, following its extreme mortality cat bond Nathan Re in February.
  • The continued convergence of capital and insurance markets is one of the 'megatrends' facing the insurance industry, according to Joe Plumeri, chairman and CEO of Willis Group Holdings.
  • The successful launch of US insurer Chubb Group's latest $200mn cat bond, East Lane Re II, is a validation of indemnity triggers as a viable structure for cat bonds.
  • Momentum continues behind legislation to scale back the Florida Hurricane Catastrophe Fund (FHCF), after the state CFO-backed bill passed both the Senate’s Governmental Operations Committee and its Banking and Insurance Committee.