Former Alterra reinsurance chairman Tom Wafer and fund manager Golub Capital are working on a reinsurance start-up, in fresh evidence that broad-based softening of the reinsurance markets is not deterring alternative asset managers
Average rates for US and international directors' and officers' (D&O) business increased for the third year in a row in 2013, according to an annual survey conducted by a subsidiary of London-listed broker Jardine Lloyd Thompson (JLT).
Frustrated by aggressive rivals who are underpricing risk? Do not fear - one day they will be caught out...
Lloyd's new CEO Inga Beale hires senior female Catlin executive as COO as Lloyd's long-standing chief financial officer, Luke Savage, leaves One Lime Street
Berkshire Hathaway's efforts to swallow up the whole of Australian cedant Wesfarmers' cat treaty have been rebuffed, The Insurance Insider has learned. According to sources, Berkshire made an offer to the Australian insurer to put down a circa A$1bn ($930mn) line on the 1 July renewal that would have left the open market with nothing
The US National Oceanic and Atmospheric Administration (NOAA) has said there could be a below-average number of US hurricanes this year due to an El Niño weather pattern, which can suppress storm formation.
VIG earnings beat; Travelers upgraded; Saga slips; Helios profits; Amlin overhaul...
Independent broker and managing general agent BMS agreed on 21 May to sell a minority shareholding to US buyout firm Capital Z for $50.7mn, giving it capital to finance its growth plans and purchase stock from former employees.
The latest shareholder revolt in the industry saw a majority of investors in Endurance voting against the Bermudian carrier's executive remuneration, including the package of CEO John Charman
Endurance chief operating officer Catherine Kalaydjian has left the Bermudian carrier after more than a decade, The Insurance Insider revealed last week.
Guy Carpenter's head of business intelligence David Flandro has resigned to join JLT Towers Re, where he is expected to lead JLT Towers Re's strategic advisory business
Mexican state-owned energy giant Pemex is undergoing a revamp of its insurance purchasing that could lead to a change its main broker and alter its energy programmes, sister publication Inside FAC revealed
London-listed Lloyd's carrier Amlin plc is reorganising to create a new tripartite structure, which will include a global reinsurance division led by Kevin Allchorne.
The loss reserve for the liability portion of the Malaysia Airlines claim has been set at $380mn, comfortably exceeding expectations, The Insurance Insider revealed last week.
QBE Insurance and Australian specialist insurer Assetinsure, soon to be acquired by Ironshore, have exposure to the major surety claims stemming from the Forge Group collapse earlier this year.
Swiss Re has handed capital back to investors in Sector Re after a brief expansion of the sidecar in 2013.
A quartet of cat bonds closed at the end of last week, raising their sponsors a total of almost $730mn in protection against Japanese, US and Florida-specific risks.
USAA's US multi-peril bond Residential Re (2014-1) will close in the middle of its initial target range of $100mn-$150mn at $130mn.
Florida cat bond Sanders Re (2014-2) will provide Allstate subsidiary Castle Key with indemnity protection for losses from all natural perils.
Despite no "smoking gun", the FCA is warning UK brokers about conflicts of interest over channelling SME business into arrangements such as MGAs
Despite the surfeit of capital, paucity of cat losses and increasing pressure on pricing, Bermudian (re)insurers were cautious in returning capital to shareholders during the first quarter of 2014
Competitive pressures have spread to the US casualty market according to broking heavyweight Marsh, after average rate increases for umbrella and excess liability lines continued to moderate in the first quarter.
Top-line growth for London-listed carriers quickly decelerated in the first quarter of 2014, as mounting competition and softening rates burdened the peer group.
Insurance industry trade bodies have backed a series of bills intended to clarify the federal requirements imposed on insurers that fall under the supervision of the Federal Reserve as part of the 2010 Dodd-Frank Act.25
Bank of England (BoE) governor Mark Carney warned UK (re)insurance executives that they will be held to account for decisions that harm policyholders in the same way as errant bankers, in a sign that the bank is taking a more aggressive approach to regulating the sector.
A UK appeal court gave a fillip to the industry last week when it said the Metropolitan police - and not insurers - were liable for Sony business interruption losses
AmTrust's share price hit an all-time high of $47.10 last Thursday (22 May) as the carrier closed up 4.44 percent for the week.
Former senior Beecher Carlson executives Bret Quigley and Adam Meyerowitz have secured up to $200mn of private equity backing to launch Prime Risk Partners, a consolidation platform to roll up US insurance brokers.
A look-up table for The Insurance Insider's universe of P&C (re)insurers
In contrast, the island's dedicated cat specialists responded to market conditions by returning more capital to shareholders in Q1, research by The Insurance Insider's Data Room demonstrates
A draft bill that would renew the Terrorism Risk Insurance Act (Tria) for only three years and increase the insurance industry's contribution should be released in June, its Republican sponsor has said
UK insurer Saga's IPO was lukewarm late last week and so was the Floridian insurer Heritage Insurance Holdings, which raised just $66mn from its IPO on the NYSE as pricing of its shares came in below expectations