Munich Re recently released a report on 2012 cat losses, which indicated that US losses accounted for a far higher proportion of natural cat losses than usual. 7 February 2013
US Representatives Grimm and Maloney have introduced a bill into the US House of Representatives to extend the Terrorism Risk Insurance Act (TRIA) for a further five years. 7 February 2013
Asta Managing Agency has been given approval in principle by Lloyd’s to establish syndicate 2357, which will be backed by Bermuda-based, Nephila Capital. 6 February 2013
Validus chairman and CEO, Ed Noonan has announced that the company has signed a letter of intent to acquire Bermuda reinsurer, Longhorn Re, a writer of US-based single-crop reinsurance. 5 February 2013
Munich Re’s recently released report on 2012 cat losses argues that states need to strengthen loss prevention efforts to mitigate the threat of rising insured losses. 5 February 2013
In its Bermuda 2013 Market Update, rating agency, Fitch argued that certain Bermuda players are becoming ‘risk asset managers’ as the market takes an increasingly prominent role in the convergence space. 24 January 2013
Third Point Re has had its financial strength rating of A-(Excellent) and its issuer credit rating of “a-” affirmed by AM Best following a strong first year of operations. 24 January 2013
