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September 2013/5
  • Data room: Share price movements
    Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers
    23 September 2013
  • Tawa hit with $27mn half-year loss from KX Re
    The impact of selling KX Re to Catalina has pushed Tawa plc, the legacy-to-live firm backed by billionaires Francois Pinault and Lakshmi Mittal, to a $27mn group loss for the half-year
    23 September 2013
  • Catalina acquires run-off insurer Alea from Fortress
    Legacy acquisition firm Catalina has agreed to purchase the run-off reinsurer Alea Group from New York buyout firm Fortress Investment Group for an undisclosed sum.
    23 September 2013
  • Cuomo proposes tough reforms for force-placed insurers
    New York Governor Andrew Cuomo has proposed new legislation to regulate the controversial force-placed insurance sector in the state
    23 September 2013
  • Gibraltar regulator shines spotlight on non-European reinsurers
    The Financial Services Commission of Gibraltar (FSCG) said it is paying increased attention to the reinsurance arrangements of Gibraltar insurers, especially those that involve significant cessions to reinsurers domiciled outside the European Economic Area (EEA).
    23 September 2013
  • Bermuda enters NAIC’s qualified jurisdiction process
    The Bermuda Monetary Authority (BMA) is the first insurance supervisory authority to agree to participate in the US National Association of Insurance Commissioners (NAIC)'s qualified jurisdiction process.
    23 September 2013
  • Partnership shares under pressure amid FCA investigation
    UK annuity provider Partnership Assurance Group confirmed that it is under investigation by the Financial Conduct Authority (FCA) for inducements, after a week in which its share price fell sharply.
    23 September 2013
  • Key D&O exclusion upheld by US courts
    A crucial exclusion used in directors' and officers' (D&O) policies has been upheld in a case involving the Federal Deposit Insurance Corporation (FDIC)
    23 September 2013
  • $100bn Fed AIG bailout suit rumbles on
    The Federal Reserve Bank of New York has requested that the Court of Appeals throw out an appeal by Starr International Company against a ruling over the $100bn bailout of AIG
    23 September 2013
  • Ruling marks end of Silverstein WTC claims
    World Trade Center leaseholder Larry Silverstein is not entitled to any of the subrogated claims money paid to insurers by airlines over the 9/11 attacks, a court ruled last week
    23 September 2013
  • Markel lures back Richardson
    Greg Richardson has become acting head of retro property reinsurance at Markel Global Reinsurance, just three months after leaving Alterra when it was acquired by Markel
    23 September 2013
  • Deutsche Bank hires ILS director
    Deutsche Bank Asset & Wealth Management has added to its new ILS team with former Lockton Re broker Adam Sayers
    23 September 2013
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