News – Page 287
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Online onlyGallagher buys four US employee benefits firms
Broker acquires companies in four US states
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Online onlyZurich taps capital markets for $270m US quake cover
Munich Re and Swiss Re team up to structure Zurich’s new cat bond
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NewsIAG increases reinsurance cover to $5bn
Extension follows programme put in place following 2011’s floods and earthquake
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NewsCatastrophe numbers increase in 2012, but insured losses decline
Insured losses above 10-year average at $65bn
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NewsMarine and energy rates increase at 1 Jan renewals
But other lines experience prices decreases, says Guy Carpenter
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NewsPrudential acquires The Hartford's life business for $615m
Deal includes ceding commission to reinsure 700,000 Hartford policies
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NewsOneBeacon completes Essentia sale
Bermudian insurer terminates underwriting agreement with Hagerty
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NewsABIR urges new Bermuda govt to focus on work permits
Kading hopes new regime will continue to develop US and European relations
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NewsUS P&C profits more than double in 2012
Industry remains well-capitalised despite Sandy, says AM Best
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NewsAetna fined $1bn for Washington state violations
Insurer issued unapproved policies and failed to file legally required documents, says Washington state insurance commissioner’s office
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NewsUS property catastrophe rates up 10-30% on Sandy affected accounts
But European rates flat to -5% at 1 Jan renewals, says Aspen Re
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NewsMiller strengthens reinsurance team
New hire Condon to focus on power generation and distribution book
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NewsMS Frontier granted approval to write business in Malaysia
Reinsurer branches out from Bermuda base
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NewsGlobal reinsurance rates flat at Jan 1 renewals
Willis Re report says international and US property catastrophe rates remained constant despite Sandy impact
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Online only‘Several’ interested in QFCA’s Qatarlyst stake
QFCA looking to sell all or part of (re)insurance technology firm
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Online onlyValidus expects $333m Sandy loss
Flagstone’s $39.1m loss from US storm will not hit Validus results
