The reinsurance community is expecting further demand for adverse development covers (ADCs) as a combination of soft market conditions, low interest rates and reserve adequacy concerns pushes carriers to scrutinise their back books.
I've got a leaky roof.
Hamburg-headquartered insurer Schwarzmeer und Ostsee Versicherungsaktiengesellschaft, known as Sovag, is bringing a legacy book holding EUR120mn ($140mn) of gross reserves to market, The Insurance Insider understands.
The legacy market has long eyed the array of continental European liabilities piled up on carrier balance sheets, just waiting to be released.
A recently introduced Willis Towers Watson broking structure for terrorism cover has underlined the increasing facilitisation of the political violence market in London.
Talbot has taken over QBE Europe's role leading North American business for one of the largest facilities in the terrorism market, The Insurance Insider can reveal.
The London directors' and officers' (D&O) market is facing a claim of around $26mn following a settlement by Australian law firm Slater and Gordon with its shareholders.
Who would be a D&O underwriter?
Newline Group's London head of commercial directors' and officers' (D&O) business and its head of financial lines have both left the company, according to market sources.
London market insurers are collectively missing out on more than £200mn ($260mn) in historic loss funds, according to insurance services firm Ambant.
Darag replaces CFO; Kaikoura claims reach $1.4bn; Hannover Re Argenta deal; No Novae bid from Validus; Beazley Europe expansion; Elms leaves XL; Lloyd's MTE support; Generali Colombia sale; Allstate $993mn cat losses; RLI beats Q2 consensus; Donegal cats bite; US Risk MGA deal; Beazley Asia FI; Arch joins Plug and Play; IAG Australia restructure
The mean cost of premiums for UK solicitors' professional indemnity (PI) cover dropped by 1.3 percent last year, according to The Law Society.
Brexit and a new catastrophe insurance scheme for developing countries dominated the agenda at the International Insurance Society (IIS)'s Global Insurance Forum in London last week, as executives gathered to discuss the future of the industry.
US commercial P&C rates continued their upward trajectory in the second quarter, according to bellwether insurer Travelers.
P&C (re)insurers experienced a relatively benign quarter in terms of natural catastrophe events, though recent company disclosures have dented more bullish assumptions about related losses.
Reaction to the UK government's insurance-linked securities (ILS) regulations released last week has been positive, with market participants saying their concerns about earlier draft proposals had been noted and the end result was a framework they could work with.
Two reinsurer sidecar vehicles have not been renewed in 2017 as Scor and PartnerRe each decided they no longer needed retrocession cover in this format, sister publication Trading Risk revealed last week.