United States of America (USA)
Neal bill opponents respond to “inaccurate and misleading” Berkley statements
A coalition of trade experts, consumer advocates, insurance industry leaders and state officials have protested “inaccurate and misleading” statements made by William Berkley, of WR Berkley, most recently, regarding an online video opposing controversial…
Swiss Re: global non-life premium dips 0.1% in 2009 to $1 735bn
According to Swiss Re’s latest “World insurance in 2009” sigma study, world insurance premium volume fell 1.1% on an inflation-adjusted basis.
Hiscox to cut Lloyd's capacity by £100m in 2011
Hiscox has published a summary of its initial 2011 business forecast for Syndicate 33. A full 2011 business forecast for Syndicate 33 will be submitted to Lloyd's by 9 July.
Swiss Re: global non-life premium dips 0.1% in 2009 to $1 735bn
According to Swiss Re’s latest “World insurance in 2009” sigma study, world insurance premium volume fell 1.1% on an inflation-adjusted basis.
US Congress passes financial reforms
On Friday, after a marathon 20-hour debate, the US Congress passed an amended version of the Dodd-Frank Bill which includes measures to prevent more AIG-style bailouts and a federal insurance regulator.
Alex regains tropical storm strength in Gulf
Tropical depression Alex picked up speed over the Gulf of Mexico on Sunday, regaining tropical storm strength, and keeping two key Mexican oil ports closed.
Cat bond prices fall
Catastrophe bonds have seen their sharpest slump since 2008 as forecasters predict a busier-than-usual Atlantic hurricane season.
Bill Hodson appointed senior VP of GossRe
Goss Reinsurance Brokers, the recently launched reinsurance brokerage division of US Risk Insurance Group, has announced the appointment of William Hodson to senior vice president.
Credit Suisse tips RGA or Munich Re for Aegon unit buy
Munich Re and RGA have been named as potential buyers of Dutch insurer Aegon's Transamerica Reinsurance unit, Credit Suisse analysts said on Wednesday.
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.