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Financial Management

Month: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
  • November 2014

    NT sells off GI operations to Allianz 24 November 2014

    The German insurer bought the insurance arm of Territory Insurance Office, while Adelaide-based People's Choice Credit Union bought its banking business, the government said.

  • Charles Taylor completes Nordea acquisition 24 November 2014

    Charles Taylor has completed its acquisition of Nordea Life & Pensions, which is expected to be modestly earnings enhancing.

  • Cowdery set for Friends Life windfall 24 November 2014

    Clive Cowdery, founder of two business ventures originally called Resolution, is set to reap a second windfall after Aviva announced an all-paper bid for Friends Life

  • Assurant's diverse business praised 21 November 2014

    AM Best as affirmed the diversity of Assurant Inc’s business offering but has expressed concern over the group’s exposure to natural catastrophes.

  • Moody's downgrades Towergate 21 November 2014

    Rating agency Moody's has followed Fitch's decision to downgrade insurance broking and MGA business Towergate

  • New dividend policy at Delta Lloyd 21 November 2014

    Netherlands-based composite Delta Lloyd has adopted a new dividend policy

  • Fitch downgrades Towergate 20 November 2014

    Rating agency Fitch has downgraded the issuer default rating (IDR) of UK-based insurance services group Towergate, as well as placing the company on ratings watch negative (RWN).

  • Towergate in debt covenant talks 20 November 2014

    UK-based broking and MGA group Towergate, which has completed seven acquisitions this year, has warned that it faced uncertainties around whether its cash flows at the beginning of next year will be sufficient to service its debt payments as currently structured.

  • US GDP growth may shrink in Q4: Euler Hermes 19 November 2014

    The US’ third quarter 3.5% growth in GDP is likely to shrink to 3% in 2014’s fourth quarter, Euler Hermes has predicted.

  • Generali ahead of schedule on recovery plan 19 November 2014

    Italian insurer Generali is likely to achieve its 2015 recovery plan targets a year ahead of schedule, chief executive Mario Greco said today

  • Trans-cab pulls IPO after facing premium rise 19 November 2014

    The company, which had been looking to raise around S$114.2m ($88m), said it was cancelling the offering due to new information relating to its insurance premium flagged by its insurer soon after launching its public offer on November 12.

  • Hamilton to buy Sportscover and Kinetic 18 November 2014

    The holding company for property casualty reinsurer Hamilton Re and insurer Hamilton USA, together with Wild Goose Holdings, the holding company for the Sportscover group, will provide funds at Lloyd’s for the 2015 year of account.

  • Aon authorises $5bn share repurchase 17 November 2014

    Broker Aon has authorised a $5bn share repurchase programme adding to a $1.1bn programme the company had already authorised to buy back equity.

  • Xchanging NSW Workers' Comp contract in run off 17 November 2014

    Xchanging has been managing around 5% share of NSW's Workers' Compensation portfolio since 2010 under a contract that expires at the end of 2014.

  • Puerto Rico looks to insure debt offering 17 November 2014

    Puerto Rico is looking to insure a planned $2,9bn bond offering from its highways and transportation authority.

  • Aquiline takes stake in Beach & Associates 14 November 2014

    New York-based private equity firm Aquiline Capital Partners has purchased a majority stake in international independent broker Beach & Partners.

  • AJG acquires Illinois insurance agent 14 November 2014

    Broker Arthur J Gallagher has acquired Illinois based insurance agency Forker to help grow its construction sales.

  • Insurance dividends poised to rise in 2015: Nomura 14 November 2014

    Nomura analyst Cliff Gallant says that he expects quarterly dividends to rise as boards convene in early 2015.

  • Asset Managers back less liquidity for higher returns 14 November 2014

    Reactions in association with PineBridge Investments and BlackRock hosted a presentation and panel discussion in the Old Library at Lloyd's, where investment managers at insurers heard experts from the macro-economic, asset management, equity analyst and hedge-fund strategy sectors, discussing the challenges and opportunities facing investment managers today.

  • AM Best downgrades ratings of Farmers Fire 14 November 2014

    The rating’s agency said the downgrade primarily reflects Farmers Fire’s volatile operating results due to a “continuing unfavorable underwriting performance in conjunction with declining surplus” through the first nine month of 2014.

  • EU changes tack on insurer investments 14 November 2014

    COMMENT: The recent announcements from the EU on changes to capital requirements for certain asset backed-securities were more important for what they signified than for their intrinsic significance

  • UK and Bermuda reinsurers handed US boost 14 November 2014

    Reinsurers in the UK and Bermuda, as well as in three other jurisdictions, may soon be able to post lower collateral when operating in the US following recommendations from the National Association of Insurance Commissioners.

  • Munich Re’s diversification strategy praised 13 November 2014

    Ratings agency AM Best has praised the diversification strategy of Munich Re as it affirmed the reinsurance giant’s rating.

  • Markel grows trade credit division in Singapore 13 November 2014

    Markel International appoints Linda Naili to its trade credit division in Sigapore, strengthening its presence in the region.

  • Warning hits FBD share price 13 November 2014

    Irish insurer FBD suffered a 20% fall in its share price yesterday after cutting its profit forecast significantly.

  • Talanx investment returns help bottom line 13 November 2014

    German insurance holding group Talanx has maintained its €700m profit target, and is looking to make a similar amount in 2015

  • R&Q 2014 profits to be below expectations 13 November 2014

    US asbestos related claims, low investment income and disappointing trading from its US insurance services arm are expected to knock Randall & Quilter’s 2014 pre-tax profits.

  • Catlin reports 11% rise in GWP 13 November 2014

    Net premiums earned during the first 9 months increased by 6% to $3.08bn with underlying growth calculated to be 3%.

  • Cathay acquires Conning 12 November 2014

    Asian financial holdings company Cathay has acquired insurance investment management company Conning, from Aquiline.

  • AM best praises Barbados's conservative Harmony 12 November 2014

    Ratings agency have praised the conservative nature of Harmony General Insurance Company’s reinsurance programme as it affirmed the insurer’s rating.

  • Nelson promotes Lloyd’s local Indian presence 12 November 2014

    If Lloyd’s had a local presence in India it could not only boost the Indian insurance industry but that in turn could contribute to the nation’s GDP and economic strength, John Nelson, Lloyd’s chairman, said yesterday.

  • Crabel Re established in Bermuda on Multi-Strat platform 12 November 2014

    LA based asset manager Crabel Capital has launched a reinsurance entity, Crabel Re, which will operate as part of the Multi-Strat platform.

  • Convergence Quarterly 12 November 2014

    During the 12 months to June 30, 13 new sponsors obtained risk protection, a record number. By the half-way point of 2014 there were $22.4bn worth of bonds on risk, up $4.6bn on the position 12 months previously.

  • AM Best revises outlook to neg for Century Casualty 12 November 2014

    The ratings agency said the revised outlook reflects Century Casualty’s unfavorable underwriting results year-to-date in 2014 and challenges the company faces to improve near term results.

  • Charles Taylor reports overall steady performance 12 November 2014

    Charles Taylor is on track to meet board expectations, but its Adjusting Services arm has suffered from a lack of global insured losses in 2014.

  • Pimco could withstand $300-350bn of outflows over 2 years 11 November 2014

    Allianz owned bond manager Pacific Investment Management Co (Pimco) could withstand $300-$350bn worth of outflows over the next two years according to Morningstar.

  • Oxbridge Re Q3 combined ratio of 29% 11 November 2014

    Gulf Coast reinsurer Oxbridge Re has managed to boost its third quarter net income to $1.4m from $0.47m in the prior year quarter after increasing its premium income.

  • Enstar reports $26.4m Q3 consolidated net earnings 11 November 2014

    Enstar’s third quarter consolidated earnings were down from the prior year quarter at $26.4m but the nine month earnings were up at $107.8m.

  • Arch acquires Resource Underwriting Pacific 11 November 2014

    Melbourne-based Resource Underwriting Pacific is the latest acquisition of Arch Insurance Europe as it plans to expand in Australia.

  • Allied World hires Neil Lightbown 10 November 2014

    Neil Lightbown has been named as Allied World’s Chief Underwriting Officer for its Global Markets segment.

  • Markel signs Elephant agreement 10 November 2014

    Specialty insurer Markel has told Reactions that its deal with motor insurer Elephant is part of a strategy of building strategic partnerships that allows it to compete with the large personal lines insurers.

  • Kiln and TME rebrand 10 November 2014

    Kiln and Tokio Marine Europe have formally rebranded as Tokio Marine Kiln, based in 20 Fenchurch St, better known as the Walkie Talkie.

  • BP Marsh's Dunbar resigns after 20 years 10 November 2014

    Natasha Dunbar has resigned from BP Marsh with immediate effect after working for the company for 20 years.

  • AM Best praises China Re’s support of China market 07 November 2014

    Ratings agency AM Best has praised the role that China Re has played in supporting the development of the Chinese reinsurance market as it affirmed the company’s ratings.

  • Third Point Re Q3 $6m net loss 07 November 2014

    Third Point Re’s CEO described its third quarter net loss as “disappointing” after drops in investment income.

  • Ping An shares halted ahead of share offering 07 November 2014

    China's securities regulator said on Sunday it had given Ping An the nod to sell up to 625.9m shares, which would be valued at HK$38.5bn at the stock's last traded price of HK$61.50.

  • Allianz Q3 profits rise despite Pimco woes 07 November 2014

    Operating profit at the asset-management unit, which includes Pimco and Allianz Global Investors, fell 5% to €694m.

  • Kilimanjaro Re cat bond to grow by 43% 07 November 2014

    Everest Re’s cat bond Kilimanjaro Re (Series 2014-2) is growing from offering $350m of reinsurance to $500m for US and Canadian earthquake risks.

  • Zurich confident despite profit drop 06 November 2014

    George Quinn, the chief financial officer at Zurich, has said that the insurer is still confident of an attractive dividend despite a greater than expected fall in profits.

  • Commercial rates continue slow slide: Market Scout 06 November 2014

    As we approach the end of hurricane season commercial rates are seeing increased pressure, says Market Scout, with property ‘casualty lines experiencing a 1% rise in October.

  • Markel shareholder income drops in Q3 06 November 2014

    Markel's income to shareholders has $107.9m in the third quarter compared to the prior year quarter.

  • Zurich confident despite Q3 profit drop 06 November 2014

    George Quinn, the chief financial officer at Zurich, has said that the insurer is still confident of dealing with market headwinds despite a greater than expected fall in profits.

  • AIG Q3 results beat analyst expectations 05 November 2014

    Chief executive officer Peter Hancock, who only took the reins from Ben Benmosche on September 1, said the company remains "disciplined in our approach to balancing growth, profitability, and risk."

  • Hyperion and RK Harrison begin merger talks 05 November 2014

    The landmark deal would create the largest independent, employee-owned insurance intermediary group in the world, with projected annual revenues approaching £400m ($640m) and with close to 3,000 employees in 100 offices across 37 countries.

  • PICC plans to raise HK$6.13bn in rights issue 05 November 2014

    China’s PICC Property & Casualty Co is raising capital from discounted rights issue as Chinese insurers grapple with domestic securities investments becoming less beneficial.

  • Strong Q3 from Ageas 05 November 2014

    Belgium-based insurer Ageas has reported an insurance net profit of €597m for the first nine months of the year, up from €497m in the same period last year. For Q3 the insurance net profit was €239m, up from €168m.

  • Catalina to buy PXRE 04 November 2014

    Run-off specialist Catalina has agreed to buy PXRE from Tawa Associates for $11m cash

  • JLT says Q3 in line with expectations 04 November 2014

    Broker Jardine Lloyd Thompson has called market conditions "challenging", but said that for 2014 it was trading broadly in line with expectations.

  • Marsh to expand analytics platform 04 November 2014

    Broker Marsh has announced the rapid expansion of its analytics model in an attempt to provide a more holistic approach to its data analytics.

  • Aon Benfield revenue declines 03 November 2014

    Reinsurance broker Aon Benfield has recorded a slight year on year decline in income for the third quarter.

  • APAC 2014 cat bond limits double 03 November 2014

    Asia Pacific cat bond limits have more than doubled in 2014 but reinsurance premiums are down, Guy Carpenter said.

  • October 2014

    No pressure on premiums says IAG chief 31 October 2014

    Mike Wilkins said low inflation and stabilisation in the reinsurance market had taken the pressure off for premium rises for the time being.

  • Zurich closes sale of Russian retail business 31 October 2014

    The insurer said in a statement that the transaction generates a loss through net income on disposal which will be recorded in Zurich's fourth quarter results.

  • Argo boosts profit despite increased competition 30 October 2014

    Bermuda-based Argo Group increased its net profit during the third quarter even though only one of its quartet of business segment generated a marked increase in gross written premium.

  • FM Global hits new City rental record 30 October 2014

    The US-based firm has set new records after agreeing to rent 7,700sq ft of space in the 'Cheesegrater' on Leadenhall St for £85 per sq ft.

  • Strong insurers could handle deflationary Eurozone 30 October 2014

    Europe’s strongest and largest insurers are well placed to face the challenges presented by a deflationary Eurozone, says Fitch.

  • UK Club's members face 6.5% general increase 30 October 2014

    Mutual marine insurer and International Group member the UK Club has informed members their protection and indemnity coverage costs will face a 6.5% general increase at renewal.

  • China Re A ratings affirmed by AM Best 29 October 2014

    China Re and its subsidiaries have had their A ratings affirmed by AM Best overriding the huge nat cat losses it suffered in 2010 and 2011.

  • China's insurers at risk as shadow banking rises 29 October 2014

    Insurers held 281bn yuan ($46bn) of trust products at June 30, rising from 144bn yuan at the end of last year, China Insurance Regulatory Commission data shows.

  • Everest Re launches new $350m Kilimanjaro Re bond 29 October 2014

    The new single-tranche deal will focus purely on US and Canada earthquake risks with a per-occurrence weighted industry loss trigger.

  • Marsh reports 13th double-digit growth quarter 29 October 2014

    Consolidated revenue in the third quarter of 2014 was $3.1bn, an increase of 7%, compared with the third quarter of 2013.

  • Rocket explosion casts a shadow over space insurers 29 October 2014

    The launch of the Orbital Sciences Antares 130 rocket carrying the Cygnus Orb 3 cargo craft was insured by Orbital Sciences Corp for $48m with around 20% of the losses will be borne by Lloyd’s.

  • Willis reports $7m net loss in Q3 29 October 2014

    Broker Willis has reported a $7m net loss in the third quarter of the year, compared with a $27m loss in the same period of 2013.

  • Montpellier Re takes Q3 profit hit 28 October 2014

    The Bermudian reinsurer reported a fall in net income for the quarter of $42.9m from $70.4m for the comparable third quarter in 2013.

  • PartnerRe Q3 results beat Wall St forecasts 28 October 2014

    The Bermuda-based reinsurer's reported figures for the first three months also included net after-tax realised and unrealised losses on investments of $35.4m, up 96% year-on-year (Q32013: $1.3m).

  • XL reports strong Q3 earnings 28 October 2014

    The reinsurance arm of the business contributed another strong quarter with an underwriting profit of $90m and a combined ratio of 79.2%, according to the McGavick.

  • Alternative capital yet to be tested 27 October 2014

    Swiss Re will not panic in the face of the influx of alternative capital into the reinsurance sector; the company remains confident it will work its way through the challenge and emerge stronger, Bill Donnell, president of US P&C for Swiss Re Americas, told Reactions ahead of this week's PCI.

  • AXA Bank will not need extra capital boost 27 October 2014

    According to Reuters, the European Central Bank found that lender that AXA Bank Europe was €200.2m short and Franco-Belgian Dexia had a capital shortfall of €339.4m at the close of 2013.

  • Montross warns over “untested” cat bonds 27 October 2014

    The lightest North Atlantic hurricane season in over three decades will do little to dampen investors’ appetite for supporting catastrophe bonds despite some speculating that pricing for these so-called “alternative” risk transfer tools has hit rock bottom.

  • Munich Re staying disciplined in the face of competition 27 October 2014

    Competition is the predominant issue affecting the US reinsurance market as alternative capital continues to take more business away from traditional reinsurers, says Steven Levy, the recently appointed president of Munich Re America’s reinsurance division believes.

  • Amlin stake in Leadenhall grows 24 October 2014

    Amlin has signed a deal to increase its stake in Leadenhall Capital Partners to 75% from 40%.

  • China regulator encourages investment abroad 24 October 2014

    Chen Wenhui of the China Insurance Regulatory Commission (CIRC) said at an industry conference that only 1% of Chinese insurers' funds were currently invested abroad, compared with a cap of 15%.

  • Hiscox underwriting performance praised by AM Best 24 October 2014

    Ratings agency AM Best has praised the strong operating performance of Hiscox, demonstrated by its consistently low five-year combined ratio as it affirms the insurer’s rating.

  • Lloyd's bond issue revised down to G+268bp 24 October 2014

    A Tier 2 bond offering from Lloyd's of London attracted significant investor interest at its original coupon guidance of Gilts plus 2.75%, enabling the final offering of £500m to be pegged at +268bp.

  • Manage reputational risk strategically: Rims 24 October 2014

    According to a new report from risk management society Rims, companies that manage their reputational risk strategically, as they do their business risks, are likely to be more successful in managing their reputation.

  • Patria Re diversity leads to parent upgrade 24 October 2014

    The niche position that Patria Re holds in Mexico and the Latin American market and its diverse product offering has been praised by AM Best as it upgrades the reinsurer's rating.

  • Ace Itaú Seguros acquisition approved 23 October 2014

    Ace has received all necessary approval to acquire the large Brazilian property and casualty insurer Itaú Seguros – a deal expected to close on October 31.

  • Allied World shifts Bermuda Direct to new division 23 October 2014

    Allied World Assurance Co is to move its Bermuda direct insurance division from International Insurance to US Insurance, renaming the latter North America Insurance

  • Capital gain drop hits Everest numbers 23 October 2014

    Bermudian reinsurer Everest Re reported strong underwriting results, but the bottom line was reduced by a fall in realised capital gains.

  • Ace net income declines 22 October 2014

    Switzerland-based re/insurer Ace saw net income decline year on year during Q3, although operating income improved.

  • Cost of doing business rises in UAE 22 October 2014

    According to a new report from Clyde & Co, a number of new and heightened costs are to be borne by brokers.

  • Mixed Bag from Gjensidige 21 October 2014

    Norwegian insurer Gjensidige posted a slight year on year Q3 decline, but the year-to-date numbers showed improvement.

  • Stable German treaty 1/1 renewals expected: E+S Rück 21 October 2014

    Hannover Re’s German business is expecting stable rates for the January 1 renewals following higher frequency severe weather leading to big losses for primary insurers.

  • Fitch welcomes strict CIRC solvency rule 20 October 2014

    According to the ratings agency, the decision will slow the rapid growth in Chinese insurers' assets invested in trust schemes, which are not as liquid or as transparent as conventional corporate debt.

  • Nationale Suisse and Helvetia merge today 20 October 2014

    The merger between Helvetica and Nationale Suisse was completed today, with Helvetia shares being issued to Nationale Suisse shareholders and new board members being chosen for Nationale Suisse.

  • QBE seeks strength in NA and Europe markets 20 October 2014

    QBE European operations chief executive officer, Richard Pryce, told investors and analysts that QBE is confident it can defy the regional economy’s bleak outlook.

  • “Significant” pension capital ready to enter ILS market 17 October 2014

    Significant pension fund capital is readying itself to enter the ILS market, according to Aon Benfield’s Paul Schultz.

  • Lloyd's surplus slightly up on year 17 October 2014

    The Society of Lloyd's has recorded a slight increase in its surplus over the first nine months of 2014

  • RSA to sell Italian business 17 October 2014

    UK-based insurer RSA continued its focus on core regions with the announcement of the sale of its Italian businesses

  • Casualty decline hits Platinum Q3 16 October 2014

    Bermuda's Platinum Underwriting saw Q3 net income decline after Casualty profits plunged.

  • Green bonds need definition for integrity: Zurich CIO 16 October 2014

    Green bonds must be defined so that investors know what they are investing in, Zurich’s CIO told the Reuters Climate Change Summit.

  • Lloyd's prepares to re-enter bond market 16 October 2014

    According to reports, Lloyd's is preparing to meet investors in London and Edinburgh early next week to discuss a dated sterling denominated subordinated bond.

  • Till Capital aquires Omega & subsidaries 16 October 2014

    Till Capital is acquiring Toronto-based Omega Insurance Holdings and its subsidiaries for roughly $15.4m.

  • Driverless cars and 3D printing to shape future of insurance 15 October 2014

    New technology is reshaping the way in which insurers will do business says technology consultancy Strategy Meets Action as it reviews the nine emerging tech advances that could change the industry.

  • Morgan Stanley analyses Ace/BlackRock JV 15 October 2014

    Morgan Stanley said the rumoured captive joint venture is likely to lower Ace’s expense further by reducing or even eliminating brokerage commissions and traditional reinsurer overhead expenses.

  • SII charges ignore rating differences: Fitch 15 October 2014

    The European Commission only applying two Solvency II capital charges on securitisations ignores rating differences, Fitch Ratings has argued.

  • PZU gets clearance on Lithuania deal 14 October 2014

    Polish insurer PZU has received permission from Lithuania's competition watchdog to buy Lithuanian rival Lietuvos Draudimas AB, PZU has said.

  • South Africa insurers call for third party cover 14 October 2014

    In South Africa, around 12m or up to 60% of cars aren’t insured. Industry figured say only 4m are insured.

  • White Mountains buys 63% Tranzact share 14 October 2014

    White Mountains has brought a 63% share in internet insurer Tanzact, announced the same day Tanzact announced a deal with Wal-Mart.

  • Generali rating outlook boosted 13 October 2014

    Generali has had its rating outlook improved from negative to stable after successfully streamlining its core operations and processes and replenishing its solvency.

  • IAG announces major brand repositioning 13 October 2014

    IAG Commercial will have a broader and increased appetite as a result of larger scale achieved following IAG’s takeover of the Wesfarmers underwriting business on 1 July.

  • AIG still a good bet despite sluggish growth 12 October 2014

    Despite slow growth in its book value analysts still advise investors to look into buying shares in AIG.

  • Keogh appointed as new Advisen CEO 12 October 2014

    Insurance industry veteran Bill Keogh has been announced as the chief executive of data and analytics company Advisen.

  • Aquiline adds Worley to re/insurance portfolio 10 October 2014

    Private equity firm Aquiline Capital Partners has taken a majority stake in industry support firm Worley Claims Services.

  • Bernanke defends terms of AIG bailout 10 October 2014

    Ex Chairman of the Federal Reserve Board of Governors Ben Bernanke has defended the interest rate charged when AIG was bailed out by the US government in late 2008

  • Democrat Jones backed as California Commissioner 10 October 2014

    The San Francisco Chronicle has backed Democrat Dave Jones to be re-elected as insurance commissioner, despite the opposition accusing him of chasing out competition.

  • Geithner wraps up lengthy time on stand 10 October 2014

    Former head of New York Fed Tim Geithner has finished an epic two and a half days on the witness stand in the Starr Intl vs US Government case

  • Japan non-life insurers tighten risk controls 10 October 2014

    Fitch said that tighter risk controls will be targeted at typhoon primarily, as well as earthquake and other natural risks.

  • Pakistan's Jubilee Insurance to offer Takaful 10 October 2014

    Pakistani insurer, Jubilee is the next conventional insurer to also offer Takaful products, following new regulations allowing insurers to offer both products side by side.

  • Swiss Re buys stake in East African insurer 09 October 2014

    Swiss Re is to take a 26.9% minority stake in East African insurer Apollo, which also has operations in Uganda and Tanzania.

  • Technology investment top priority for Bermudians 09 October 2014

    Investment in technology is a top priority for Bermudian reinsurers, according to a new survey released by Xchanging's Xuber.

  • Allied World makes real estate investment play 08 October 2014

    Allied World has diversified its investment portfolio after making an investment in real estate private equity venture Blue Vista.

  • China's Anbang acquires NY's Waldorf Astoria 07 October 2014

    Chinese insurance group Anbang has acquired the famous New York Waldorf Astoria hotel from Hilton Worldwide for $1.95bn.

  • P&C insurers' net income rises in H1 07 October 2014

    The net income of the P&C insurance industry rose modestly in the first half of the year as capital gains offset a poor operating performance, according to ISO and PCI.

  • NT gov weighs up sale of insurance office 06 October 2014

    Cabinet is seeking to ascertain whether the Government should be in the business of owning a financial services business.

  • QLD councils facing premium rise 06 October 2014

    The commission currently underway has called for federal funding arrangements to emphasise risk mitigation, rather than relief and recovery.

  • Bermudian reinsurers face primary pressure 03 October 2014

    Bermudian reinsurers are likely to facer more pricing pressure as primary insurers rush to form Watford Re-style captives. Nomura's Cliff Gallant has warned.

  • Insurers may be more exposed with UK’s Flood Re: S&P 03 October 2014

    The UK’s state backed flood pool, Flood Re, could leave insurers more exposed than before if climate change hits hard or the government do not maintain flood defences.

  • Mariah Re lawsuit dismissed 03 October 2014

    The suit had been filed against the sponsor of the Mariah Re catastrophe bonds, American Family Mutual Insurance as well as risk modelling firm AIR Worldwide and Insurance Services Office (ISO).

  • RSA sells subordinated bond 03 October 2014

    RSA has sold a subordinated bond to raise capital despite the risky and volatile market.

  • Singapore cat bond launched by AZ Athenaeum 03 October 2014

    Joint venture launches a catastrophe bond for Singaporean investors aiming to utilise underrepresented segments of the market

  • Tokio Marine eyes US M&A targets 03 October 2014

    "There are still possible options in the North American market," Tsuyoshi Nagano, chief executive officer and president of Japan's largest insurer by market capitalisation told Reuters.

  • IDB Development shareholders denied subsidiary control 02 October 2014

    Saudi Arabian IDB Development has denied its shareholders control over one of its subsidiaries, because of material gaps between the control structure and data presented in the proposals.

  • Infrastructure should be own investment class: Zimmerer 02 October 2014

    Allianz wants to invest in German infrastructure but urges the government and EU to improve the regulations.

  • Lockton acquires Glasgow firm 02 October 2014

    Lockton acquires Griffiths & Armour Scottish branch in Glasgow to expand its insurance and risk management presence in Scotland.

  • Bill Gross departure stunned Pimco and Allianz 01 October 2014

    The decision of Pimco co-founder to join Janus stunned both Allianz and Pimco with neither firms having any knowledge of the move before its announcement, reports Bloomberg.

  • Hong Kong boosts premiums by 13.7% 01 October 2014

    Hong Kong has managed to lift its 2013 gross premiums to HKD299.5bn ($38.6bn) after working closely with insurers to boost the industry.

  • ILS on track for record year despite quiet Q3 01 October 2014

    The catastrophe bond market could yet still record a record year of issuance despite the third quarter being the first time in over a decade no new deals were transacted.

  • JLT Re forms new Spanish JV 01 October 2014

    JLT Re, has formed a new reinsurance joint venture in Spain with March JLT, a venture that is 75% owned by Grupo March and 25% owned by Jardine Lloyd Thompson

  • Oman insurance 2013 growth of 14% 01 October 2014

    Oman’s insurance industry has growth by 14% year on year in 2013 with direct premiums rising 10.4%.

  • Saga's profits rise in H1 01 October 2014

    Insurer Saga experienced a rise in its half year profits primarily driven by its travel and private medical insurance units.

  • TMR AG makes management changes 01 October 2014

    Reinsurer Tokio Millennium Re has shaken up its board and executive team with a number of appointments the company announced on Wednesday.

19 Nov 2014

In this week's Reactions the Review
PRA has its eye on reserving
Catlin reports GWP rise
NAIC gives Bermuda a boost
China deal helps Oz insurers

View issue

For more catastrophe reports, data and news, click through to the RMS/Reactions Catastrophe Centre.