Initial indications that the 1 April catastrophe renewals would provide some respite for reinsurers have proven misleading as firm order terms hit the market with heavy rate reductions.
UK regulator the FCA's decision to fine Besso is, on the facts presented, alarming because it would appear the regulator's definition of "third party" is being stretched yet further...
Corporates are often unable to control the risk of their top staff failing, opening insurers up to the risk of "vengeance" payouts to shareholders, according to the chairman of risk consultancy firm Reputability.
Japanese mutual Zenkyoren looks set to secure an additional 325bn yen ($3.2bn) of limit at the top of its vast cat treaty, with premium spend either flat or only modestly higher
BP Marsh declares; Profits up; Shareholder suits; Affirmed; Global claims; Blue Capital price; Wong move; Talbot profits; Canopius booms; Willis in Myanmar; Munich Re buyback; Lloyd's to Lloyds; Middleton passes away; JLT Bermuda merger; Charles Taylor grows; AJ Gallagher acquires; Swiss Re pay cut; CEO motoring; Annuity shake-up
Steve Hearn, the new chairman of the London Market Group and deputy CEO of Willis Group, is expected to tell the group's forum tomorrow (25 March) that it should evolve to become a key body for determining the future vision of the London market by embracing new roles including lobbying and improving public perceptions of the industry
The Insurance Insider takes a look at some of the specific 1.4 renewals keeping reinsurers awake including the major Japanese accounts, together with Aviva and Zurich
The Florida Cat Fund's decision not to proceed with plans buy up to $1.5bn of cover is adding to fears of a very competitive 1.6 Florida renewal for the $4bn+ market
Canopius' impending takeover by Japanese "big three" insurer NKSJ will give the Lloyd's carrier added financial firepower and opportunities to tap new markets, according to its chief executive Michael Watson.
RenaissanceRe chief executive Kevin O'Donnell has said his organisation is agnostic over different forms and sources of capital and that the reinsurance industry should learn to evaluate the sale of reinsurance and the provision of debt or equity finance alongside one another.
The UK Financial Conduct Authority (FCA) has fined London-headquartered Besso Ltd £315,000 ($526,000) for failing to put in place adequate anti-bribery checks, making it the first dedicated wholesale intermediary to be hit with such a penalty.
A US court has fined Illinois-headquartered State Farm Fire and Casualty $758,000 and ordered it to pay $2.9mn in legal fees after it was found to have defrauded the taxpayer-funded National Flood Insurance Program (NFIP).
The Canada Pension Plan Investment Board (CPPIB) has agreed to buy life reinsurer Wilton Re for $1.8bn from a group of investors led by Stone Point Capital, Kelso & Company, Vestar Capital Partners and FFL.
Enstar and Stone Point will now pay only $646mn for global specialty insurer Torus after the sale and purchase agreement was amended to reduce the price by $46mn, a Securities and Exchange Commission filing shows.
Aon has taken legal action to limit potential loss of business after at least 10 employees in California quit to take up roles at rival intermediary Alliant, in an echo of a bitter dispute over staff departures between the firms two years ago following the defection of construction heavyweight Peter Arkley
Norwegian oil giant Statoil has suffered a major loss in the North Sea that could reach a gross level of $300mn and will likely impact the renewal of the blue chip's energy account on 1 April
The onshore energy market is set to take a $400mn loss from an explosion and fire at the Co-op Refinery Complex (CRC) in Canada last Christmas
Marsh's chairman of energy Andrew George has warned that energy underwriters will need to consider offering more liquid products that pay upfront and adjust later in order to capture sufficient return in the market.
By the end of this week, we are likely to have the final pricing for the IPO of Lloyd's carrier Brit Insurance. The Insurance Insider considers the factors that could determine the company's valuation
Underwriting profits were commonplace for reinsurers in 2013, but where were the outliers?
As the 2011 YoA closes, The Insurance Insider looks at the winners and losers in underwriting performance....
After enduring a long period as a laggard as it was held back by its underperforming UK business and inefficient capital structure, Brit 2.0 has reported strong returns in 2012 and 2013.
The Insurance Insider's Data Room predicts that the 1.1 renewal rates squeeze will continue through 2014... <w:LsdException Locked="false" Priority="0" QFormat="true" Name=&
The Lloyd's market could report a pre-tax profit of around £3.5bn for 2013 when it unveils its annual results on Wednesday (26 March), according to estimates from The Insurance Insider.
ANV Syndicate 779 has closed its 2010 year of account with a profit of 10.64 percent on its £27mn capacity, an Argenta results forecast has showed.
The debut cat bond from Great American Insurance Company, Riverfront Re, priced below guidance last week, reflecting continued investor demand on the ILS market
A Cayman Islands reinsurer linked to Florida-based HCI Group is seeking to raise up to $29.75mn from an IPO on the Nasdaq SmallCap Market, according to regulatory filings.
President Obama last week signed into law a bill to stall premium rate hikes for US policyholders covered by the NFIP, cementing a Congress U-turn on 2012 legislation that would increase premiums to reflect actuarial levels
Recent reserve strengthening for asbestos liabilities are the result of a renewed attempt by the Plaintiff Bar to find new pockets for settlements
The UK government will next month implement the Mesothelioma Act 2014, which will establish a scheme to provide payments of up to £123,000 for patients suffering from latent asbestos poisoning but who cannot trace a liable employer or an employers' liability insurer.
It was a volatile week for share prices in The Insurance Insider's universe, with Aviva down sharply on unexpected plans by the UK government to change rules relating to compulsory annuity purchase. Lloyd's stocks also continued to fall on rate fears while heavyweights Axa and Munich Re were up strongly
The Insurance Insider's look-up table for all of the weekly, monthly and YTD share price movements of the companies in our updated composites
The progression of a flood insurance bill through the US Congress could help pave the way for the reauthorisation of the Terrorism Risk Insurance Act (Tria), according to Cozen O'Connor lobbyist Robert Freeman.
UK Chancellor George Osborne last week (19 March) announced £140mn ($200mn) of new funding for flood defences as part of the 2014 Budget, in response to the unusually severe weather that hit the country this winter.
With the 2013 results season complete, The Insurance Insider continues its comparative analysis of the global companies trading in our universe...
Scor CEO Denis Kessler has told the London market to embrace new technology, arguing that it makes EC3 more relevant.