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Reinsurers bow to political pressure as Florida steps in
Bodies representing the reinsurance industry have responded to criticism over their lobbying of Florida lawmakers that last week passed legislation significantly disintermediating the role of property reinsurers in the state.
29 January 2007
FSA salutes contract certainty achievement
The Financial Services Authority (FSA) acknowledged last week that the UK insurance industry has met the challenge set by the regulator to achieve contract certainty.
29 January 2007
Marsh receives China license
Marsh Inc has been awarded China’s first Wholly-Owned Foreign Enterprise (WOFE) insurance broking license, the broking giant confirmed last week.
29 January 2007
MBIA pays $75mn to settle finite reinsurance probes
MBIA Corp became the latest US insurance group to settle regulatory investigations into its past transactions.
29 January 2007
Lawsuit threat silences Fairfax critic
Morgan Keegan insurance analyst and long-term bear of Canadian combine Fairfax Financial Holdings, John Gwynn, has announced that he is dropping the company from his coverage due to a stock manipulation lawsuit.
29 January 2007
Strong investment return drives Markel results
The specialty insurance group Markel Corporation unveiled its 2006 results last week which saw the group’s combined ratio fall to a mere 87 percent while investment earnings leapt to an impressive $160mn.
29 January 2007
Join The Insurance Insider 2007 “live” run-off survey
The Insurance Insider’s surveys have always provided an invaluable snapshot of key industry issues and we would be delighted if our readers will again spare a few moments of their time.
29 January 2007
R+V wins £14mn judgement in Risk case
German reinsurer R+V has been awarded £14mn, plus interest, in its long-running dispute with the former Lloyd’s-based managing agency Risk, Insider Week can reveal.
29 January 2007
Kyrill may trigger Munich Re cat bond: S&P
The European windstorm Kyrill may trigger Munich Re’s EUR110mn cat bond, Aiolos, as the reinsurer announced last week that its losses from the storm may be in the region of EUR600mn.
29 January 2007
Florida intervention threatens reinsurer profitability
The reinsurance market was hit last week with news that legislation has been passed in Florida that will disintermediate significant reinsurance capacity in the state, the most profitable in the property catastrophe sector.
29 January 2007
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