Earlier today, The Insurance Insider revealed Endurance's $3.2bn approach for Aspen, sparking a sharp rise in the latter's share price and a war of words between the firms. We look at what may happen next...
The insurance-linked coupon on Heritage P&C's Florida-focused Citrus Re cat bond dropped 17 percent during the marketing process. It doesn't bode well for the forthcoming $4bn+ Florida cat renewals
Well, that was eerily prescient. No sooner did this publication lead on the notion that Bermuda M&A is the unavoidable consequence of current market conditions (see our 8 April edition lead, "Bermuda buzzes with M&A talk as soft market reigns") then Endurance duly obliged with a hostile bid for Bermuda peer Aspen
The US government is appealing against a court decision to hand $6.2mn recovered from an Al Qaeda terrorist to a dozen insurance companies to compensate them for losses suffered in the 9/11 terrorist attacks.
QBE's shares were marked down by A$570mn in trading today (14 April) as investors responded negatively to the news that its US mid-market business is being put up for sale. The Insurance Insider broke the news on Friday (11 April) that QBE was interviewing bankers with a view to offloading the Winterthur business, which it bought for nearly $1.2bn seven years ago...
Argenta promotes; WCMA hires; Amlin pay; AJG fundraising; Catlin consortium; Hastings results; All set for Solvency II; Storm loss; Scor invests; Mapfre Re stable; Cyber risk; Losses sink; Barbican hires; Charles Taylor claims; Scor life; RSA fundraiser; Kenya claim; ABI tie-up
The Association of British Insurers (ABI) has come out in favour of including homes in the highest property tax band in the UK's proposed Flood Re scheme for guaranteeing affordable flood insurance in high risk areas.
QBE has hoisted up the for sale sign at its Lloyd's aviation business in perhaps the first sign that the market's rapid softening is triggering a withdrawal of capacity, The Insurance Insider can reveal.
Fledgling Lloyd's underwriter Acappella has hired market veteran David Indge as chief underwriting officer
The global (re)insurance market must evolve faster than its customers to stay relevant in a fast-changing risk landscape. This was the assessment of Aon plc CEO Greg Case in an Insurance Institute of London lecture at the Old Library at Lloyd's last week.
The investors to which private equity consortium Achilles syndicated its Brit Insurance investment in 2011 have overwhelmingly chosen to have their interests represented by Apollo rather than CVC following the firm's IPO
Marketform has handed on more than £10mn ($16.7mn) of claims to the Lloyd's Central Fund in the last six months as the run-off of its Italian med-mal portfolio continues to inflict pain on the market
Major Italian medical malpractice writer AmTrust remains bullish about the profitability of the business in 2014 despite cutting back its top line last year.
US senators from both sides of the divide have agreed a bill to renew the Terrorism Risk Insurance Act, increasing the likelihood of the act being extended beyond its 31 December 2014 expiry date
Early price indications from sell-side adviser Goldman Sachs suggest that privately held US insurer Western World is targeting a lofty - and perhaps unrealistic - sale multiple of 1.4x-1.5x book value, The Insurance Insider understands
Southport Re, the collateralised reinsurer that ran into problems over the quality of the assets backing its underwriting, is to be sold to investment group US Lennox Investments LLC for an undisclosed sum
AM Best has rewarded Ace Ltd for strong earnings and capitalisation along with "prudent" acquisitions by upgrading the financial strength ratings (FSR) of most of the (re)insurer's operating subsidiaries from A+ to A++.
PartnerRe has teamed up with Chedid Re, a major reinsurance broker in the Middle East and North Africa (Mena) region, to provide capacity to an MGA that will underwrite a range of financial lines insurance business.
UK personal lines insurer Aviva has agreed to sell its minority stake in South Korean joint venture Woori Aviva Life Insurance for an undisclosed sum, the company said today (14 April).
Cyclone Ita triggered floods and left thousands of homes without power in northern Australia, but there were no deaths or major infrastructural damage
Three tornadoes that hit the Denton area of north Texas on 3 April have generated an estimated $300mn in insured losses, the Insurance Council of Texas (ICT) said on 9 April.
As buy-and-hold investors with relatively predictable liabilities, (re)insurers are "uniquely positioned" to profit from uncertainties that prevail in the global fixed income market today, according to JP Morgan Asset Management (JMAM).
Global reinsurance broker Guy Carpenter said last week that the 1 April renewals were marked by price cuts amid stiff competition between well-capitalised carriers and further encroachment from the insurance-linked securities (ILS) market.
Catastrophe (re)insurers should expect a below-average Atlantic hurricane season, according to recent forecasts
ILS rates-on-line (RoLs) took their sharpest drop in the first quarter since the same period of last year, according to a respected RoL index
US broker AJ Gallagher is set to embark on a journey of growth in the Australasian region through a flurry of bolt-on acquisitions following its landmark agreement to purchase Wesfarmers' insurance brokerage operations
Rates in the downstream energy market have fallen to historically low levels, weighed down by persistent excess capacity
A buyers' market is expected to emerge for US commercial insurance in 2014 as a property sector softening faster than expected combines with easing upward pressure on rates in many other business classes, according to Willis.
The Port Authority of New York is suing an Aon subsidiary for breach of contract and negligence after the broker allegedly caused the government body to pay more than $50mn in unnecessary premiums
QBE and Bank of America have proposed a $228mn settlement to end an ongoing class action dispute over force-placed home insurance.
London market intermediary run-off company Senator has acquired its first live book of business with the purchase of Lloyd's broker and coverholder HBA, which received regulatory approval today (14 April).
Goshawk, the once listed Lloyd's carrier downed by its foray into viatical insurance and other loss-making classes, has had its run-off managed by Randall & Quilter (R&Q) for a decade.
It was a tough week for P&C stocks last week with only a few rare lights, including Lancashire and, today, Aspen...
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 Financial Conduct Authority (FCA), the UK regulator heavily criticised for its handling of investigations into life insurers, gave P&C insurers a fillip last week following a year-long thematic review into the claims-handling practices of household and travel carriers.
Darag has been bought out by its former minority shareholder, London-based private equity firm Keyhaven Capital
Putting aside Aspen's vehement objections, what would a combined entity actually look like
Peter McKenna, American International Group (AIG)'s head of financial lines for Europe, the Middle East and Africa (EMEA), has recently left the giant insurer, The Insurance Insider understands. Normal 0 <w:SaveIf