United States of America (USA)
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.
Reinsurance rates decline at June Florida renewals
According to a report by reinsurance broker Guy Carpenter, Florida renewal rates have declined by 10-12% at renewal.
BMS revenues rise 10% in 2009
Reinsurance broker BMS has reported an underlying profit of £9.2m in 2009.
US government predicts up to 23 Atlantic storms
National Oceanic and Atmospheric Administration (NOAA) predicts “one of the most active [hurricane] seasons on record.”
QBE opens Canada Lloyd’s office
QBE has opened an office in Toronto to service its Lloyd’s business for the Canadian commercial insurance market.
Liberty Mutual and General Re settle dispute
Liberty Mutual has resolved a dispute in which it accused the General Re, the reinsurance unit of Berkshire Hathaway of fraud, according to a court filing.
SFO drops AIG case
The Serious Fraud Office has dropped an investigation into the UK operations of AIG Financial Products.
Lloyd's: Deepwater and Chilean earthquake bill could top $2bn
Lloyd’s announced today that it estimates its net claims before tax from the earthquake in Chile to be in the order of US$1.4bn.
CEA welcomes EU/US Japan Post Insurance talks
The European insurance and reinsurance federation, CEA, has welcomed joint EU and US effort to address the Japanese government’s preferential treatment of Japan Post Insurance.
Reinsurers should prepare for active 2010 hurricane season – TSR
Tropical Storm Risk (TSR), which provides real-time mapping and prediction of tropical cyclone windfields worldwide, anticipates Atlantic basin and US landfalling hurricane activity being 55% above the long-term (1950-2009) norm this summer.
US financial reform bill passes
The US Senate approved a sweeping Wall Street reform bill on Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s.
Munich Re issues $80m cat bond
Munich Re has obtained cover for US hurricane and European windstorm risks amounting to $80m from Irish SPV EOS Wind, which placed a catastrophe bond in the market.
CCIR praises EU for blasting US reinsurance tax proposals
The Coalition for Competitive Insurance Rates (CCIR) has commended the European Union for "speaking out against a controversial tax proposal” on affiliated reinsurance included in President Obama's 2011 budget proposal.
US financial reform delayed
In a setback for the Obama administration, Senate Democrats failed to muster enough votes on Wednesday to end debate on the overhaul of financial regulation, delaying a vote on passage.
Performance - Shareholder returns: Cut to the core
Jonathan Hughes examines the findings of recent analysis of insurer shareholder returns and finds that big is not necessarily better.
Omega sees Q1 GWP growth
(Re)insurer Omega Insurance Holdings has reported an 18% growth in GWP for the first quarter of 2010 to $124.5m (2009: $105.5m.)