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Florida opportunities for reinsurers, says S&P
Expansion of the Florida Hurricane Catastrophe Fund (FHCF) at the beginning of the year has created “new profit opportunities” for reinsurers, according to rating agency Standard & Poor’s (S&P).
10 September 2007
Munich Re targets EUR5bn market with enterprise risk unit
Munich Re has targeted a potential EUR5bn market with its new unit set up to sell protection against selected enterprise risks.
10 September 2007
RI3K launches a new electronic message service
Electronic trading platform RI3K has launched a new messaging service for the (re)insurance industry.
10 September 2007
CNA in $250mn ‘Unicover’ settlement
The legacy of workers’ compensation carve-out reinsurance – epitomised by the Unicover pool which collapsed in 1999 – re-emerged when CNA Financial Corporation agreed to pay John Hancock $250mn to end a dispute relating to the business.
10 September 2007
Federal cat pool meets opposition in Senate
A proposal for a national cat risk pool has met with stiff opposition in the US Senate with some lawmakers refusing to subsidise “a lifestyle of beach living”.
10 September 2007
QBE launches European reinsurance operation
QBE European Operations has launched a new reinsurance division in order to bring its Lloyd’s and company business under one roof.
10 September 2007
Canopius appoints advisers; launches Bermuda operation
Private equity backed Canopius Group Ltd joined the throng of Lloyd's (re)insurers launching Bermudian platforms while also confirming it had appointed corporate advisers to consider "strategic options".
10 September 2007
Benfield profits down despite Corporate Risk growth
Although revenue growth impressed at Benfield Group Ltd's Corporate Risk business (BCR), shares in the broker fell as the John Lapsley-headed division reported a trading loss of £4.6mn...
10 September 2007
Brit profits flat after drop in UK performance
Insurer Brit Holdings plc has reported flat first half profits of £106.8mn following a drop in underwriting profits in the "difficult" UK market.
10 September 2007
ILS indemnity trend to continue
Indemnity style triggers have become an established feature of insurance-linked securities (ILS) transactions and the trend is likely to continue, predicted Aon's Paul Schultz.
10 September 2007
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