News

News

Endurance Insurance looks to London for international expansion

According to Graham Evans, CEO of international insurance at Endurance Insurance, the recent creation of a London-based professional indemnity team is indicative of the company’s insurance growth strategy for 2014.   9 January 2014

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AlphaCat fully deployed for 2014

Validus’ SPI, AlphaCat has fully deployed its $160 million of collateralised reinsurance and retrocessional capacity at the January renewals.   9 January 2014

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McGavick robust in defence of insurance industry

XL Group CEO and chairman of the Geneva Association, Mike McGavick has been robust in his defence of the industry in an open letter to the Financial Times in which he argues that insurers neither create, nor represent a systemic risk.   9 January 2014

ILS

ACE establishes $95 million special purpose vehicle

The capital from Altair Re II, which is the second Altair transaction, will be used to support ACE Tempest Re’s global property catastrophe reinsurance portfolio.   7 January 2014

News

IAG increases reinsurance buy by 10 percent

Citing favourable market conditions as a key driver, Australian insurance giant IAG has said that it has increased its reinsurance buy for 2014 to $5.6 billion, up from $5 billion for 2013.   7 January 2014

News

Catlin opens Singapore branch for the New Year

The new entity is separate from Catlin's Lloyd’s operations, which have been writing business since 1999, and began writing specialty lines of direct insurance in Singapore and reinsurance throughout the Asia-Pacific region on New Year’s day.   7 January 2014

News

Endurance appoints leader of new London professional indemnity team

Ian Bowler has joined Endurance Specialty Holdings as senior vice president.   7 January 2014

ILS

Argo Group re-ups on risk transfer for 2014

Both a sidecar and the issuance of a $172 million catastrophe bond announced.   6 January 2014

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BMA appoints new director of insurance supervision

The Bermuda Monetary Authority has appointed Andrew Gibbs as director, supervision (insurance). He will report to Craig Swan, managing director, supervision.   6 January 2014

News

NAIC reduces collateral requirements for Bermuda players

Bermuda has been recognised by the National Association of Insurance Commissioners in the US as a Conditional Qualified Jursidiction. Recognition will help to reduce the collateral requirements of Bermuda reinsurers.   6 January 2014

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