Torus has announced that it has received approval from the UK Financial Services Authority and Lloyd’s to launch a managing agency, Torus Underwriting Management Limited - TUML. 5 April 2013
The Turkish Catastrophe Insurance Pool (TCIP) has opted to establish a Bermuda-domiciled SPI to host its latest ILS bond, which will provide multi-year coverage for Turkish earthquake risk. 4 April 2013
A report by Willis Re has found that $35 billion of additional capital is currently flowing into the reinsurance space, with the trend set to accelerate. 4 April 2013
Re/insurance disputes are increasingly being settled through arbitration, but the costs associated with such an approach are not necessarily any less significant than litigation for the companies involved. 3 April 2013
Robert Hiscox was awarded the Gold Medal for Services to Lloyd’s at a ceremony in London this week. Hiscox is only the 17th person to receive the honour since its inception in 1919. 3 April 2013
PartnerRe announced the formation of Lorenz Re, a Bermuda-domiciled “companion facility” special purpose insurer to provide additional capacity on a diversified portfolio of catastrophe reinsurance treaties over a multi-year period. 2 April 2013
Statistics from the Bermuda Monetary Authority reveal that alternative reinsurance formations account for half of all formations since the start of 2013. 2 April 2013
Citizens has reduced potential emergency assessments for Floridians by more than $3 billion— or 42 percent— from the 2012 hurricane season, through depopulation and risk transfer agreements. 28 March 2013
Endurance announced Steven Dresner will assume the newly-created role of executive vice president of the company’s global insurance division. 28 March 2013
