News
News
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
Tower Group has announced a merger with privately-held and Bermuda-based ACP RE, with the new entity set to operate under the Tower name but as a subsidiary of ACP Re. 6 January 2014
ILS
According to Nick Farland, CEO of EMEA at Guy Carpenter, the falling rates are a trend that began at mid-year renewals and continued through to the New Year. 6 January 2014
News
Sarah Turvill has retired as chairman of Willis International, effective from the end of 2013. She will not act as non-executive director on the Willis board. 18 December 2013
News
Cash-rich, top-three Japanese insurer, NKSJ Holdings has acquired Canopius for £594 million as it moves to broaden its international footprint through its purchase of the London market player. 18 December 2013
News
Inga Beale, former Group CEO at Canopius has been appointed CEO of the Lloyd’s market, succeeding Richard Ward. She will take up her position in January. 17 December 2013
ILS
Levels of share buybacks among Bermuda cat players reflect tough market conditions, with the renewals likely to be shaped by the influx of convergence capital. 17 December 2013
News
The Federal Insurance Office’s Modernization Report has recommended greater federal oversight, a drive towards uniformity in state insurance regulation, and potential punitive measures for those states unwilling to play ball. 17 December 2013
News
The reinsurance broker’s annual Hurricane Season Report states that there were less than a third of the normal number of hurricanes. 12 December 2013
News
Arch Re’s recent $77.4 million cover for Freddie Mac—the troubled US Federal Home Loan Mortgage Corporation famous for taking a hit in the financial crisis—could signal growing opportunity in US public risk for private Bermuda reinsurance players. 5 December 2013
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