Global insurer Allianz has been quoting rate increases of 30-50 percent on airline all-risk business as part of a bold play to drive price rises in the loss-hit aviation market, The Insurance Insider can reveal.
Weekly share price data on The Insurance Insider's universe of P&C (re)insurers
Relatively speaking, of the four financial staging posts of the year Q2 is quite a dull quarter.
The insured loss from last month's fighting at Tripoli Airport in Libya could now hit $600mn-$750mn,The Insurance Insider revealed last week.
Whistleblowing disputes are becoming increasingly frequent in the London and international insurance markets. Few, however, are as bitter as the current Tysers-Heaney dispute...
Florida's insurance regulator has approved the take-out of a further 91,499 multi-peril personal residential policies and 5,732 commercial lines policies from Citizens by four insurers in the state.
The drive by Bermudian (re)insurers into specialty lines will lead to intense pricing competition and result in lower-than-anticipated returns, Keefe, Bruyette & Woods analyst Meyer Shields has warned.
Butcher returns; Capita appoints; NOAA updates; Kiln on fire; Allianz beat; Navigators misses; Third Point Re beats; AmTrust hike; Integro buys; XL lures; Fitch predicts; Hawaii spared; In the red; Zurich rises; RSA returns; Marked up; Maiden Re reports; Flat lining; Aon buys; Fed Nat closes; AJG acquires
Erstwhile Brit Insurance CEO and industry entrepreneur Neil Eckert has reunited with former Augsburg Re aviation underwriter Klaus Gierstner to fundraise for a new managing general agency (MGA).
Equity analysts have praised Catlin after it beat consensus earnings forecasts for H1 by 34 percent, driving the firm's share price higher.
Proposed $50mn Florida start-up Canopy Insurance Holdings has finalised its senior management team and entered the final phases of its initial capital raise, The Insurance Insider understands.
The new RMS(one) platform is now running a year behind schedule and is not expected to launch before 2015.
Hannover Re ceded 40 percent of its gross aviation claims to retrocessionaires in the first half of 2014.
Allied World more than doubled the limit on its retro programme to $250mn upon renewal in the second quarter, the firm's chief financial officer Tom Bradley said on an earnings call.
Zacks has downgraded its rating on property catastrophe reinsurer Blue Capital Re from outperform to underperform following the release of the firm's second quarter results.
Following the recent increase in the Costa Concordia loss notification, some of the biggest (re)insurers have revealed the impact in their Q2 results
Publicly quoted standalone Florida insurers broadly reported strong top line growth in the second quarter as relatively recent start-ups and established carriers took advantage of improving market conditions and the depopulation of Citizens to write more business.
Yet more evidence of growing price pressure in the world's largest insurance market...
Bermudian carriers profited from another benign catastrophe environment in the second quarter, as a lighter claims experience and continued reserve releases pulled the peer group to a sub-90 percent combined ratio.
Reinsurance stocks came under renewed selling pressure last week as a series of attritional losses held back earnings despite the quarter being considered below-average for cat events.
Lloyd's run-off vehicle Equitas is suing the US government for $97mn after it prevented insurers from pursuing the Libyan government for its involvement in terrorism attacks, including the Lockerbie bombing.
A number of Tower Group's shareholders have settled with the fallen US insurer after filing a suit that accused its former CEO Michael Lee of telling a "bald-faced lie" and undervaluing the carrier when it was sold to ACP Re.
Ten Lloyd's insurers are being sued in the UK Commercial Court after a controversial $77mn shipping claim that may also involve the suspected murder of a British loss adjuster in Yemen.
(Re)insurance stocks moved further into the red last week as the performance of The Insider 30 index fell back by 0.32 percent, led by continental reinsurers.
Hedge fund reinsurers that pursue a more aggressive investment strategy than traditional carriers consume "vastly more capital", Standard & Poor's (S&P) said today (11 August)
While much of the focus during the P&C sector's second quarter reporting season has been on the pressures facing (re)insurers in the current-year underwriting environment, the issue of prior-year reserves was also prominent for several carriers.