Peace at last - but for how long?

Sshhh, don't say a word, but have you noticed - swine fever aside of course - that it is quite quiet out there at the moment?

Here at Reinsurance Towers there are dare we say signs of an unearthly calm spreading out across the reinsurance sector. In April there were no major or particularly nasty shocks - financially at least - and apart from the usual whirlwind of people changing places, the weather also remained fairly benign.

In terms of financial markets, is this the quiet before the storm, or have the aftershocks of last autumn finally started to dissipate and level out? Is it really possible, as some economic observers have said, that in the US at least, once the financial collapse scapegoats have been locked up, and the country has celebrated the 4 July, then general sentiment will take on a more positive outlook?

Probably unlikely, but at times like these it is good to clutch at straws and allow positive thoughts, inspired by long summer evenings, to come to the fore.

And here in the UK at least the weather forecasters are also predicting a sunny summer for once. Mind you, they generally get it wrong.

Talking of the UK, this month we have turned our focus on Lloyd's of London - a market that has weathered the financial storm so far relatively intact - and despite recording a 50% drop in profits - has managed to not see any of its members collapse.

In fact, as the month closed Lloyd's saw the launch of new syndicates - the latest being from Bermudian player Renaissance Re - which is all positive news.

In fact, next month we leave London behind to focus on Bermuda, a region that to be frank has been having a tough time - but it does have quite good weather.