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Reactions from the global insurance market

News analysis, features and opinion

  • Property-cat rates keep on climbing

    01 July 2009

    US reinsurance pricing at the July 1 renewals continued the trend set at the June 1 renewals, increasing by 10% to 15%, reinsurance brokers Aon Benfield, Willis Re and Guy Carpenter reported.

  • Bermuda market analysis: A time for caution

    24 June 2009

    Bermudian companies are perceived as being particularly vulnerable to a big catastrophe event compared with onshore competitors. Reactions asks the island’s leading CEOs and observers how prepared the market is.

  • Pamplona “king makers” in Chaucer deal

    23 June 2009

    Pamplona Capital Management’s decision to increase its stake in Lloyd’s insurer Chaucer to 9.26% could scupper Brit Insurance’s rival offer for the firm, an analyst has told Reactions.

  • Lloyd’s strength fuels capital raising and M&A

    18 June 2009

    Lloyd’s competitive strength during the financial crisis has led to capital raising and consolidation within the Lloyd’s market, a new report by Aon Benfield has revealed.

  • Facing a failure to reload after a catastrophe

    15 June 2009

    The capital markets cannot be relied on to recapitalise firms as a result of the financial crisis. The upshot is that a big hurricane loss this year could have dire consequences for the industry.

  • Asia – the peak risk of the future

    15 June 2009

    Insured catastrophe losses in Asia may still be tiny, but the international insurance industry is beginning to wake up to the region’s prospects.

  • Swiss Re earnings drop on Conning sale

    17 June 2009

    The sale of Conning and Company to private equity firm Aquiline Capital Partners will positively affect Swiss Re, by lowering the reinsurer’s capital requirements.

  • Analyst warns of pitfalls of Validus/IPC deal

    15 June 2009

    A merger between IPC Holdings and Validus Holdings would result in a firm with too high a concentration of catastrophe-exposed business, an equity analyst has warned.

  • Industry facing profitable stagnation: Thiele

    09 June 2009

    The financial crisis is pretty much over as far as the insurance industry is concerned, according to Patrick Thiele, president and CEO of Bermudian reinsurer PartnerRe.

  • AIU hits back at price cutting accusations

    09 June 2009

    AIG has suffered a barrage of accusations that it is cutting prices since it had to be bailed out by the US government in September last year. Today, Nicholas Walsh, vice-chairman of AIU Holdings, hit back.

  • Von Bomhard gives gloomy outlook on crisis

    08 June 2009

    This year's International Insurance Society conference opened strongly today (June 8) with an executive panel of world leaders. However, the panellists gave a gloomy outlook towards economic conditions in the coming year.

Latest News by Sector

North America

  • P/C reinsurance rates rise 15%

    01 July 2009

    US property/catastrophe reinsurance rates were up 15% at the July 1 renewals compared to the same period last year, a report from Guy Carpenter has revealed.

Casualty/liability

  • AEG could be left short on Jackson tour

    26 June 2009

    The promoters behind Michael Jackson’s sell-out UK tour at the O2 arena could be on the hook for millions in losses following the star’s death last night.

Bermuda

  • Flagstone Re muscles in on IPC deal

    02 July 2009

    Flagstone Reinsurance has entered the race to acquire Bermudian reinsurer IPC Holdings with a rival bid, which it says trumps the offer previously made by Validus.

Property-catastrophe

  • P&C reinsurance rates rise 15%

    01 July 2009

    US property-catastrophe reinsurance rates were up 15% at the July 1 renewals compared to the same period last year, a report from Guy Carpenter has revealed.

Europe

  • Wilhelm Zeller retires

    30 June 2009

    Wilhelm Zeller is today retiring from his position as chief executive officer of Hannover Re.

Financial management

  • Omega increases stake in Syndicate 958

    02 July 2009

    Omega Insurance has increased its stake in Syndicate 958 through the acquisition of £45.7m ($74.9m) of the outstanding capacity in the syndicate not already owned by Omega.

Lloyd's and London Market

  • Omega increases stake in Syndicate 958

    02 July 2009

    Omega Insurance has increased its stake in Syndicate 958 through the acquisition of £45.7m ($74.9m) of the outstanding capacity in the syndicate not already owned by Omega.

Legal and regulation

  • California to probe insurers’ Iran ties

    30 June 2009

    Steve Poizner, California’s Insurance Commissioner, has announced that he will launch an effort to investigate insurance company investments for ties to Iran.

Poll

There is much discussion of bringing in federal oversight of insurers in the US. But do you think today's state-based regulation system is:

Fine as it is
12%
Mostly OK, but needs some improvements
7%
Inefficient, and firms should have the option of being federally regulated instead
24%
A relic that should be replaced by one federal regulator
56%