US insurer Allstate has launched a new catastrophe bond. The deal’s initial size has been marked up as $250m but speculation is already mounting around by how much it could increase in size given the appetite of capital markets investors at the moment and Allstate’s large appetite for such coverage.
Brit Insurance and Maiden Holdings have agreed a deal that will see Maiden's Excess and Surplus (E&S) unit, Maiden Specialty, complete a temporary 100 per cent quota share reinsurance agreement with Brit Global Specialty.
DARAG Deutsche Versicherungs- und Rueckversicherungs-AG (DARAG), the run-off insurer, has raised €60 million of new capital which it says will be used to finance new acquisitions ahead of an expected increase in deal flow in the coming months.
The percentage of non-life catastrophe reinsurance ultimately covered by some form of insurance-linked securities (ILS) will double over the next four years, to the point this form of risk transfer could represent a third of the total market.
London-based business processing company Xchanging has appointed Mark Sullivan and Andy Campbell to its claims services business.
The European Commission has released a consultation on a Green Paper which it hopes will improve disaster insurance take-up in the European Union (EU) following an increase in natural catastrophes.
Despite the fact that a high percentage of senior decision makers in large companies are concerned about the threat of cyber attacks, a high proportion of businesses still fail to buy insurance coverage against this threat.
The Risk and Insurance Management Society (RIMS) has written to US government officials disagreeing with the Administration’s Proposed 2014 Budget that includes an effort to eliminate the tax deduction for reinsurance premiums ceded by domestic insurers to their foreign affiliates.
QBE has appointed Sebastian Rice into its trade credit division as a senior underwriter.
Miller’s Singapore office has appointed Nick O’Neil into a new business development and client-servicing role.