April 2011/1

(Re)insurers are unlikely to benefit from increased interest rates until 2013, warned former Bank of England policymaker David Blanchflower at The Insurance Insider's InsiderScope 2011 event last week.

(Re)insurers are currently facing the worst operating environment in history, according to Tony Ursano, CEO of Willis Capital Markets and Advisory Services.

The top three reinsurance brokers' investment in analytical and actuarial modelling will widen the gap between themselves and the remainder of the market, according to a senior broker.

The insurance industry should start preparing for a market turning event in order to take full advantage when it comes, according to Jeffrey Greenberg, chairman of private equity firm Aquiline Holdings.

Record first quarter catastrophe losses and changes to the RMS US hurricane model were insufficient to turn the softening reinsurance market, according to Aon Benfield.

Natural catastrophes and man-made disasters resulted in economic losses of nearly $218bn in 2010 and the cost to insurers was more than $43bn, according to Swiss Re.

The imminent rate hardening expected across the general property market after the Japan earthquake and tsunami is likely to be more muted in the upstream energy sector, according to Lloyd & Partners.

American International Group (AIG) has pushed through restructuring at Chartis with a management shake-up that brings in risk management executive Peter Hancock for CEO Kristian Moor.

BP Marsh & Partners and London market stalwart Michael Wade have completed a deal to take a combined majority stake in London market broker Besso, as first predicted by The Insurance Insider.

Ariel Holdings will remain a private company after Validus withdrew its interest, The Insurance Insider understands.

The three major global reinsurance brokers' 1 April renewal reports present differing portraits of the pricing outlook following the record run of first-quarter catastrophe losses.

International direct and facultative writers face mounting contingent business inter-ruption (CBI) claims stemming from major supply-chain disruption for global companies such as Sony Ericsson, with excess layers reinsured outside of Japan.