Proposals contained in Barack Obama’s FY2014 budget that would change the tax treatment of reinsurance deals conducted with non-US companies have primarily been devised to target Bermuda.
The reinsurance industry should prepare for an active US hurricane season this year, according to analysis released by Colorado State University (CSU).
Despite the growing influence of alternative sources of capacity on the traditional reinsurance markets, exerting a downward pressure on rates in some markets, this influence is less pronounced in Asia-Pacific.
Healthy levels of reinsurance capacity combined with the convergence of traditional and alternative sources of capital helped keep rates stable in the recent April 1 renewals – a significant renewal date for the Asia Pacific region.
Underwriting agency APC has launched a London market broking team to place risks for regional brokers that cannot be facilitated under its regular binding authorities.
Law firm Patton Boggs has appointed one of its reinsurance specialists as managing partner of its New York office.
CATCo Investment Management, the specialist reinsurance-linked investment business, has appointed Judith Wynne as group general counsel and company secretary.
ACE Group has appointed Mark Roberts as casualty manager for the UK and Ireland.
Everest Re Group’s insurance subsidiary, Everest Security Insurance Company, has entered into a definitive agreement with Arrowhead General Insurance Agency, a subsidiary of Brown & Brown.
ACE Group has promoted two senior staff based in its Germanic region.