Financial Institutions

Claims, Financial Institutions, Legal, London, Losses, Market Reform, Risk Management

PPO future in doubt says IUA

The future of use Periodical Payments Orders (PPOs) remains uncertain, a new study by the International Underwriting Association has revealed.

Awards, Europe, Financial Institutions

Reinsurance readers vote for their firms of 2011

The winners of the 2011 Reinsurance Magazine awards have been announced, with Aon Benfield and SCOR scooping the overall honours...

Asia Pacific, Claims, Financial Institutions, Results, Risk Management

Asian trade credit market predicted to bounce back

Markel in Singapore has announced it is seeking to broaden its product offering in Asia, with the latest addition to its suite of products, Trade Credit Cover...

Cyber Risk, Europe, Financial Institutions, Risk Management, Technology, Terrorism

Cyber threat is growing risk managers fear

Underwriting group Kiln has launched the first policy to protect mobile phone users against losses arising from ID theft and unauthorised payments...

Europe, Financial Institutions, Risk Management

SCOR speaks on fraud bid

French underwriter SCOR has admitted that it foiled an attempted fraud, involving the firm amid media claims it has been duped as part of an extortion plan.

Capital Markets, Europe, Financial Institutions, M&A, Monte Carlo

Industry needs to tackle valuation disparity says PwC

Reinsurers and investors are not capitalising on the potential attractiveness of the sector as a source of uncorrelated cash flows, leading to an undervaluation of the industry says a new report issued at the annual Monte Carlo Rendezvous.

Financial Institutions, London

Shortlists decided for the Reinsurance Awards

The votes have been counted and the shortlisted firms have been announced for the reinsurance Awards and Charity evening to be staged in London next month.

Financial Institutions, Lloyd's, London

Lloyd’s is eighties icon

It has been described as an oil rig, Willy Wonka’s chocolate factory, a life support machine and even an eye sore by some.

Financial Institutions, North America, Regulation, Risk Management

OIL changes learn the lessons of the past

The President and CEO of OIL Insurance said the mutual has changed fundamentally drawing on the lessons learned from the devastating hurricanes of 2005 and 2008.

Financial Institutions, Market Reform, North America

Taxing times as US gets tough on off-shoring

Underwriters have been given a warning that the United States’ efforts to clamp down on tax havens will have an increasing impact on their administration and processes.

Bermuda, Financial Institutions, Rates, Renewals

CEO says positive renewals for new look PartnerRe group

PartnerRe President & Chief Executive Officer Patrick Thiele has said the group is pleased with its performance during the January 1 renewals, the first since the acquisition of Paris Re.

Facultative, Financial Institutions, London, Treaty

Novae launches reinsurer with high profile hirings

Lloyd’s underwriting group Novae has recruited the former head of reinsurance at Endurance to spearhead its new business unit.

Financial Institutions, Lloyd's, London, Market Reform, Rates

UK insurance Plc feels the pinch as recession bites

The London market’s performance in 2008 was the key to the ability of the UK insurance sector to rise out the economic crisis new figures reveal.

Facultative, Financial Institutions, Lloyd's, MENA, Treaty

Reinsurance JV to be launched in Bahrain

The growing Middle East reinsurance market has a new underwriter with the announcement by one of the region’s leading reinsurers that it is to form a joint venture with Lloyd’s group Hardy Underwriting.

Capital Markets, Europe, Financial Institutions, Retrocession

Flagstone adopt capital route for retro solution

Specialty reinsurance group, Flagstone Reinsurance Holdings has delved into the capital markets to structure a retrocessional coverage deal.

The underwriter revealed that it Flagstone Réassurance Suisse SA, operation has purchased three years of fully collateralised retrocessional coverage from Montana Re Ltd (“Montana Re”), a special purpose reinsurer established in the Cayman Islands.

Montana Re was formed as a program structure enabling further issuance of additional series of notes in the future.

Europe, Financial Institutions, Rates, Renewals

FI sector is back in fashion for year ahead

Increasing numbers of underwriters are looking at the Financial Institutions market for the year ahead sparking fears that the rates will start to fall as 2010 progresses.

Having been hit hard by the financial collapse in 2008 and last year market analysts and brokers say there in now a renewed interest in the sector and the they believe there is now a real possibility that additional new capacity will enter the market.

Facultative, Financial Institutions, ILS, North America, Retrocession

Fac pool is market first

Hannover Re has underwritten the first ever capital markets transaction to cover facultative risks as part of its extended Insurance-Linked Securities (ILS) activities.

Brokers, Claims, Europe, Financial Institutions, Rates

D&O market faces rate falls as economies recover

The recoveries in corporate share prices and indications that the global economy is rebounding have put pressure on the cost of D&O coverages as the market heads to the January 1 renewals.

Broker Aon has said it has seen a 2.7 percent drop in the cost of cover for the fourth quarter of the year compared to the previous three months.

Financial Institutions, Lloyd's, London

Regions