The $4bn+ Florida market is crucial for most cat reinsurers. But in advance of the 1 June renewals, a comprehensive survey by The Insurance Insider estimates average rates will be down 15-25 percent on a risk adjusted basis...
US insurer Allstate is testing ILS investors' appetite with Sanders Re, which - at the time of going to press - looked increasingly likely to upsize from $600mn to $750mn
UK insurer RSA has appointed Goldman Sachs to sell a number of its Asian businesses as it continues to dispose of assets to improve its capital position, The Insurance Insider can reveal...
If AmTrust founder Michael Karfunkel is to honour his current $172mn agreed offer for ailing Nasdaq-listed insurer Tower Group, it will now represent a takeout multiple of at least 1.8x book value following yet more reserving shortfalls. That seems unlikely...
The soft market terms that have enveloped the professional lines reinsurance market are rapidly encroaching into other areas of casualty treaty as buyers push hard for significant increases in ceding commission on quota share placements.
Evidence would suggest that the collective memory of most of our investor base is around five years. That is not helpful to an industry that too often forgets the lessons of the past...
Nephila, Munich Re, Hannover Re, Scor and AIG added to giant US wind MGA's carrier partners
Expansive US cat specialist ICAT is targeting entry to the circa $1bn California earthquake homeowners' market
Berkshire Hathaway's operating profits fell 6.6 percent to $3.53bn as the investment conglomerate missed Wall Street consensus forecasts of $2,172 a share
Troubled Sunshine State Insurance Company and its owner US Re are understood to be cautiously optimistic that they will be able to meet the 15 May deadline set by regulators to restore the insurer's surplus, following the discovery of an accounting error that created a hole in its finances, the withdrawal of its ratings and a regulatory order to stop writing business
Florida's House of Representatives has rejected a provision that would allow surplus lines carriers to take on policies through state-backed insurer Citizens' clearing house initiative
RenaissanceRe CEO Kevin O'Donnell warns that the Florida market is showing ill discipline as the 1 June renewal looms
In an interview with The Insurance Insider, Aspen CEO Chris O'Kane has robustly defended his company's prospects in the face of a hostile takeover bid from Bermuda peer Endurance by arguing rivals were "desperate to do deals" before their lack of organic growth was exposed by worsening market conditions
Under the circumstances it was perhaps no surprise that both Aspen and Endurance should post consensus-beating Q1 results, as each looked to underline their potential for profitable growth credentials
The prospects that New York-listed insurer Meadowbrook will be sold have fallen again in recent weeks and a deal in the near-term seems unlikely, multiple banking sources have said. It comes after the firm's first quarter results saw it register an underwriting profit for the first time since 2011
QBE is likely to have a relatively small list of potential buyers for its up-for-sale US mid-market business
Hiscox dips; Scor rises; Lancashire appoints; AIG decline; Tower slump; Mapfre drop
Rate softening may again become a feature of the US commercial P&C market later this year after a number of recent surveys - including the comprehensive CIAB one - highlight a growing slowdown in momentum, and especially for larger accounts...
New research by The Insurance Insider's Data Room confirms that the pace of premium growth slowed significantly for short-tail carriers during the first quarter of 2014, as mounting competition in the reinsurance marketplace and softening rates strained the top line
Despite the negligible catastrophe impact during the first quarter, underwriting performance at our quartet of short-tail carriers actually worsened year-on-year as a result of diminishing reserve releases and higher accident year losses.
Former American International Group patriarch Maurice "Hank" Greenberg has taken his battle against the US Federal Reserve over the insurer's $182bn bailout in 2008 to the highest court in the US
Willis Re was the reinsurance broking sector's standout performer in the first quarter of 2014, delivering a "high mid single digit" increase in organic revenues to outpace its two closest rivals
American Coastal Insurance Company has renewed its Armor Re cat bond at a lower rate than last year, but nonetheless it is one of the few ILS transactions to price at the upper-end of expectations
The annualised operating return on equity (RoE) for The Insurance Insider's short-tail composite slid by more than 5 percentage points to 16.0 percent in the first quarter, despite a reduced cat load.
Insurance chief investment officers are increasingly allocating funds into "alternative" classes such as private equity and infrastructure debt, according to a major survey by Goldman Sachs Asset Management
Bipartisan legislation clarifying risk-based requirements for insurers set out under the Dodd-Frank Act was introduced into both the US Senate and the House of Representatives late last month (29 April).
Berkshire Hathaway has beaten Enstar to take up to $200mn in North American casualty legacy reinsurance business from Japanese insurer Nipponkoa, The Insurance Insider understands
We surveyed senior run-off executives about their views on the future of the occasionally controversial schemes of arrangement mechanism following UK regulatory scrutiny. Few are optimistic...
Integro has parted company with co-founding president and CEO Pete Garvey and named John Clements as chairman in a change of leadership at the New York-based international broker.
Eiopa has announced a new EU-wide stress test for the insurance sector aimed at assessing its overall resilience
MarketScout became the latest to warn on moderating US commercial rating momentum after reporting that average rate increases slowed to 2 percent last month