Mark Byrne's proposed deal to acquire struggling Lloyd's managing agency Sportscover looks increasingly unlikely to go ahead after talks all but broke down, The Insurance Insider understands.
Towers Watson's latest commercial lines insurance pricing survey (CLIPS) has provided further evidence of a slowdown in US rating momentum, with increases in the aggregate of 5 percent on renewals during Q4 2013.
This week's comment comes not from The Insurance Insider's editorial offices in either London or New York but from the altogether warmer Doha, home of the Multaqa Qatar insurance conference.
US P&C powerhouse Chubb increased the size of its East Lane Re VI cat bond by 20 percent to $270mn after pricing on the deal closed at the bottom of revised guidance ranges, according to sources.
There is growing speculation that Aviva plc, the UK's biggest risk carrier by premium volume, will become the next British insurer to receive a large regulatory fine following revelations of trading breaches at the company's Aviva Investors fund management division.
Aon Benfield appoints; AIG launch; Quindell boost; Zurich pay; Ascot ahead; JLT breather; Xchanging launch; Axis bonds; Marketform move; Howden builds; Xaver costs; P&I upgrade
The underlying problem of aggregation is "the elephant in the room" for cyber insurance, according to CFC Underwriting director Graeme Newman.
The loss of Malaysia Airlines flight MH370 will do little or nothing to halt the rapid softening of the aviation market, according to sources.
The heavy snowstorms that hit Japan last month have pushed this year's global cat loss tally past the $1bn mark, according to Impact Forecasting, Aon Benfield's risk modelling arm.
Malaysian carrier Labuan Re is the latest Asian reinsurer to enter the Lloyd's market after it secured approval to become one of two capacity providers on Barbican's new special purpose syndicate (SPS), The Insurance Insider can reveal.
Ascot loses head of offshore; Endurance hires new head of offshore from Hiscox; Chris White to launch new energy account at Barbican
The offshore energy insurance market has continued to soften in the high volume first quarter, with some sources talking about an intensification of the drop in rates seen in Q4.
The Middle East and North African (MENA) insurance sector is expecting increased take-up of insurance and a steadying of commercial rates in 2014, according to the latest annual MENA Insurance Barometer market survey released by the Qatar Financial Centre Authority (QFCA) today (10 March).
Specialist chemical manufacturer Ashland, which provided an explosive mix of chemicals to a manufacturing plant that blew up just metres from a residential estate, is expected to shortly settle in a suit with Chubb's Vigilant Insurance Company.
Struggling US carrier Meadowbrook Insurance Group has received informal takeover approaches from New York-listed rivals Navigators and AmTrust in a sign that efforts to sell the company have been stepped up, The Insurance Insider has learned.
Some reinsurers could be haunted by their decision to loosen terms around the hours clause at the 1 January renewal after the lengthy cold spell that hit the US.
American Financial Group (AFG) has fired back at Alan Spachman with a counter action to have the National Interstate founder and director's motion for a temporary restraining order and preliminary injunction against its tender offer for the insurer denied.
The listed Lloyd's carriers produced their strongest returns since 2013 as modest catastrophe losses were married to a broadly lighter attritional loss ratio and reserve releases that continued to resist gravity.
Top-line growth for the listed Lloyd's companies was almost 40 percent lower in 2013 than in 2012 as rate reductions started to register and the battle for signings intensified.
London-based insurance-linked securities (ILS) fund manager Securis is set to open a new Bermuda office later this year, sister publication Trading Risk reported last week.
Capital repatriation among Lloyd's carriers totalled approximately £600mn last year, after the majority of the group declared special dividend distributions alongside strong 2013 earnings.
Howden and Miami-based broker Hemispheric Reinsurance Group (HRG) have been victorious in a long-running and complex dispute with Costa Rican insurer Instituto Nacional de Seguros (INS) over the placement of one of the country's largest insurance programmes.
Over the course of the 2013 reporting season, you may have noticed that the composites The Insurance Insider uses for analysis purposes have changed.
The listed Lloyd's carriers delivered a sub-90 percent combined ratio for 2013 after catastrophe losses dived and reserve releases trimmed loss ratios even more than in 2012.
Asset managers have begun 2014 in cautious mode as they await clarity on the US economic trajectory and challenges to growth in China and emerging markets.
The London-listed Blue Capital Global Reinsurance Fund will announce the outcome of a new share placement on 26 March, the company announced.
As speculation continues about the ability of the insurance-linked securities (ILS) market to extend beyond its comfort zone of peak cat perils, industry executives gathered in New York last week to discuss future developments in the sector.
The cat bond product has developed to the "Generation 1.5" stage as investors take on more complex risk, but the market can still progress further to "Gen 2", Fermat Capital co-founder John Seo said at the Sifma ILS conference in New York last week.
German engineering firm Siemens has lobbied a Texas court to dismiss a "frivolous" suit brought by Zurich American, Arch and a number of Lloyd's syndicates over a $20mn property and business interruption claim stemming from a turbine fault.
A US security company will not be able to escape a suit with AIG's National Union over a data breach that led to the theft of $60mn of chemicals from a warehouse owned by pharmaceutical firm Eli Lilly.
US carrier Penn National has been put on negative outlook by Moody's due to a legal dispute with UK-listed run-off acquisition firm Tawa over a reinsurance policy covering a number of lead paint liabilities.
Brazil has applied to the European Insurance and Occupational Pensions Authority (Eiopa) to be granted third-country equivalence under Solvency II, which will give it the same status as EU-domiciled countries when the new capital regime comes into operation.
Acquisitive legacy-to-live carrier Enstar posted a 24 percent increase in its profits for 2013, helped by strong growth in premium income following a series of takeovers during the year.
The top Republican tax legislator in the US Congress late last month proposed a measure that would see the largest US insurers forced to pay a quarterly 3.5 basis point tax on all assets over $500bn.
Weekly share price movements for The Insider 30 and the biggest individual movers.
This month, we are launching our revamped data pages for the The Insurance Insider's universe of P&C (re)insurers.
The spectacular downfall of Dewey & LeBoeuf, until recently the leading (re)insurance law firm, hit the headlines again last week when a trio of its former executives were criminally and civilly charged in New York over the company's 2012 collapse.
US national security could be in jeopardy if Congress fails to renew the Terrorism Risk Insurance Act (Tria), a new report by US thinktank Rand Corporation argues.
UK insurer Aviva plc has offloaded £5bn of longevity risk to the reinsurance market in the largest deal of its kind to date.