News

News

Fitch: Bermuda players must maintain discipline in a difficult environment

Already Bermuda players have moved towards broadening policy terms and conditions, a trend Fitch believes could signal deterioration in underwriting discipline.   30 January 2014

News

ILS ‘inflicting pain’ on the traditional market

Share prices in the Bermuda re/insurance market have declined since the start of 2014 following an extended rally, reflecting a difficult renewals and troubled industry fundamentals, further exacerbated by ILS capital.   29 January 2014

ILS

Speed to market and burgeoning ILS attracts Phoenix CRe

The strengths of the Bermuda market attracted Phoenix CRetro to the Island, with speed to market and its fast-growing ILS market proving decisive factors.   27 January 2014

News

Citizens’ downsizing continues

Florida has set up a property insurance clearinghouse designed to offer consumers an alternative to state-backed Citizens, raising the prospect of greater private insurance and reinsurance buying in the Florida market.   24 January 2014

News

Universal application of contract wording will prove costly

In their drive to develop business in diverse geographies, re/insurers may be unwittingly exposing themselves to legal challenges relating to contract wordings and clauses developed for one system of law and/or jurisdiction that may not be understood or even recognised in other jurisdictions.   24 January 2014

News

Bermuda will continue NAIC assessment in 2014

As part of the Bermuda Monetary Authority’s (BMA) 2014 business plan the Authority will participate in the full National Association of Insurance Commissioners (NAIC) qualified jurisdiction assessment.   23 January 2014

ILS

Lancashire launches collateralised capacity through Kinesis

Kinesis Re has underwritten its first tranche of multi-class reinsurance agreements from January 1, extending collateralised combined aggregate limits in excess of $250 million to market.   22 January 2014

News

XL appoints reinsurance property underwriter

XL appoints Christian Daniele as senior property facultative underwriter for its reinsurance division. Daniele will be based in Zurich.   20 January 2014

News

Property insurance renewals proved competitive, but responsible

While reinsurers faced what can only be described as a tough renewals, insurers experienced one characterised by increased competition and capacity, but which nevertheless remained responsible.   20 January 2014

News

Amlin Europe enters German market

Amlin receives approval to open an office in Hamburg, Germany, with the new office due to be led by managing director, Martin Bircks.   20 January 2014

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