United States of America (USA)
US increases terror cover take-up
US terrorism insurance take-up rates continued to climb in 2009 across all industries, according to Marsh.
Levene laments 2010, the year of "direct hits"
The chairman of Lloyd’s has described 2010 as the year of “direct hits”.
Levene laments 2010, the year of "direct hits"
The chairman of Lloyd’s has described 2010 as the year of “direct hits”.
Reduced US collateral requirements to benefit reinsurers – Moody’s
While most counterparty security procedures are getting stricter, global reinsurers are poised to benefit from reduced collateral requirements, which will be credit positive for their bondholders, according to the ratings agency.
First hurricane of 2010 season forms
Hurricane Celia, the first hurricane of the 2010 Pacific season, formed in the eastern Pacific Ocean near Mexico on Sunday but headed away from land, the US National Hurricane Center said.
XL Re becomes first Bermudan reinsurer to qualify as eligible in Florida
XL Re, the global reinsurance operations of XL Capital has announced that it has received approval from the Florida Office of Insurance Regulation (FIR) to qualify as an “Eligible Reinsurer” in Florida, pursuant to requirements set forth by the Florida…
Willis launches distressed assets practice
Willis North America has unveiled a new distressed assets practice aimed at advising clients on the management of risks associated with financially distressed, foreclosed or abandoned properties.
Reinsurer capital up 8% - Aon Benfield
Aon Benfield Aggregate (ABA) report from Aon Benfield Research team estimates that global reinsurer capital increased by 8% to $434bn, surpassing the record levels set in 2007 before the global financial crisis occurred.
US targets two insurers, banks, shipping and energy sector in new Iran sanctions
The US Treasury on Wednesday blacklisted more companies – putting them off limits to US businesses - including two insurers.
SEC ends probe of AIG and executives
US regulators have closed an investigation of AIG and some of its executives over the insurer's near collapse in 2008 that led to a $182bn government bailout, according to newswire Reuters.
Willis Re opens Toronto office
Reinsurance broker appoints Robert M. Wildbore as office head for the fourth Canadian office.
US targets two insurers, banks, shipping and energy sector in new Iran sanctions
The US Treasury on Wednesday blacklisted more companies – putting them off limits to US businesses - including two insurers.
US west coast at risk of “mega-quake”
The west coast of North America, the Lesser Antilles, Chile, Sumatra and Japan are all at risk from subduction zone “mega-quakes” in the near future according to Professor Bill McGuire of the Aon Benfield UCL Hazard Research Centre.
Aon lists five earthquke hotspots
Aon Benfield has identified the Caribbean, Cascadia in North America, Chile, Indonesia and Japan as areas where mega-earthquakes of moment magnitude (Mw) 8+ are most likely to occur in the future.
Chaucer seals Latin American tie-up
Chaucer Syndicate 1084 has formed a strategic energy alliance with well control company Boots & Coots, and two international insurance brokers, Mexbrit and Global Special Risks.
RSA chairman rounds on "anti-British" Obama for BP attack
The chairman of RSA John Napier has labelled Barack Obama anti-British for his attack on BP.
Cooper Gay in merger talks to create $3.5bn independent broking giant
London-based independent wholesale, reinsurance and specialist retail insurance broker Cooper Gay and US wholesale broker Swett & Crawford have confirmed they are in advanced deal discussions to create what they claim would be the world's largest…
Munich Re CEO warns over risk pricing after years of low losses
The long-term trend towards ever higher natural catastrophe costs continues, according to Munich Re, which has warned of complacency over risk pricing.
Guy Carpenter appoints global CEO of analytics, capital markets, specialty and advisory
Guy Carpenter has named Bill Kennedy as global CEO of analytics, capital markets, specialty practices and advisory, effective from 1st July 2010.
Buffett backs Moody’s at US hearing
Berkshire Hathaway’s Warren Buffett, compelled by subpoena to testify, backed Moody’s at a hearing yesterday, defending the ratings agency in which Berkshire has a holding against criticism it misled investors.
Bermuda - legal:Towards mutual recognition
Katie Tornari and David Kendall review the steps towards international compliance that Bermuda is taking to safeguard.
Bermuda: Island of the giants
In the wake of the deal between Max Capital and Harbor Point, Seb Kafetz looks at whether bigger is really better in Bermuda.
Results: Rollercoaster results characterise Q1 2010
As first-quarter results emerged around the globe in May, we have seen some clear winners and losers with many suffering from heavy catastrophe losses, writes Katherine Blackler.
US "elevated" up as Aon unveils 2010 Terrorism Threat Map
International counterterrorism efforts appear to be stifling the ability of terrorist groups to mount significant attacks on the scale of those of September 11, 2001, according to the 2010 Aon Terrorism Threat Map.