September 2007/3

The continued pressure on rates has dampened Kiln plc’s premium growth with the (re)insurer confirming plans to reduce its participation in the Lloyd’s market.

Fears that the sub-prime debacle will affect the insurance industry are beginning to materialise as many mid and small-cap companies begin to post directors and officers (D&O) and errors and omissions (E&O) claims...

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.

The nascent insurance-linked securities (ILS) marketplace is on track to become “one of the great and exciting stories of financial innovation in the next five to ten years”, according to Michael Spencer, founder and chief executive of the world’s largest

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”.

Bermuda-based (re)insurer Catlin Group reported 29 percent first-half premium growth following its acquisition of Wellington Underwriting, but profits fell as a result of the deal’s expenses.

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".

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...

Insurer Brit Holdings plc has reported flat first half profits of £106.8mn following a drop in underwriting profits in the "difficult" UK market.

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.

Electronic trading platform RI3K has launched a new messaging service for the (re)insurance industry.

Bermudian life reinsurer, Scottish Re Group has closed a $555mn Triple-X life securitisation through its subsidiary Clearwater Re.