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Market Reform

Brokers, Capital Markets, Captives, Legal, Market Reform, North America, Regulation

Cayman Islands in push to attract Reinsurer

A range of incentives is being finalised by the regulators on the Cayman Islands as part of its bid to attract reinsurance capital.

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.

Broking, Lloyd's, Market Reform, MGA, North America

AAMGA in Lloyd's process change

The powerful Association of Managing General Agents (AAMGA) said it believes that there will be a new system in place by the end of the year which will speed up and streamline the information its members provide to Lloyd’s.

Liability, Market Reform, North America, Offshore

US tax plan dismissed by Bermuda reinsurance boss

The US is still set on a collision course with the Bermudan market over proposals to tax reinsurance premiums ceded to overseas underwriters.

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.

Catastrophe, Europe, Market Reform

Swiss Re Chief warns rates are under pressure

The Chief Executive of Swiss Re, Stefan Lippe has warned the January renewals may not see the forecast and expected price rises as the absence of major catastrophes puts pressure on rates.

Energy, Europe, Market Reform, Risk Management

Pressure continues on across the energy market says broker chief

The Chairman of Aon’s Natural Resources Global Practice GroupMagne Seljeflot has predicted that the final quarter of the year will see energy rates start to come under increased pressure as low loss levels and the drive to meet budget targets hits home.

Broking, London, Market Reform, Risk Management

London spells out modernisation strategy for 2010

The chairman of the London Market Group (LMG) Barnabas Hurst-Bannister, has announced the group’s strategy for the year ahead telling the market’s senior figures failure to continue the modernisation already underway would leave London lagging behind its international rivals.

Liability, London, Market Reform

IUA chief indentifies London’s major challenges

The Chief Executive of the International Underwriting Association has warned the two biggest challenges to the London market in 2010 cannot be treated in isolation.

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.

Broking, London, Market Reform, Renewals

Big three broker pledge exchange support

When he addressed the Insurance Institute of London in September Lloyd’s CEO Richard Ward said brokers would drive process reform in the market adding he was hunting down the final one of the “big three” to come on board for the market’s Exchange.

Market Reform, North America, Regulation, Solvency II

New Bill seeks Federal Reinsurance License

There are growing hopes that a new bill which would create a federal licence for reinsurers in the United States will gather support after it was proposed by Kansas Democrat Congressman Dennis Moore.

Claims, Lloyd's, London, Market Reform, Regulation

Lloyd’s to get tough on claims

The Lloyd’s market has put claims at the top of the agenda for 2011 but it will see the corporation seeking a far higher level of corporate governance.

London, Market Reform, Regulation

Stepping up the pace a capital idea

 The London Market Group has said it was delighted with the feedback on its clearly defined plan for the next stems in changing the way London transacts its business

Broking, Lloyd's, London, Market Reform, MGA

Lloyd’s has it covered

The Lloyd’s market is pushing ahead with its three year strategy plan which at its heart has the aim of making One Lime Street easier to do business with.  Peter Montanaro Lloyd’s Head of Delegated Authorities tells Jon Guy how the market’s coverholders and underwriters are working to streamlines the reporting and audit systems for the benefit of both.

 

London, Market Reform, Regulation

Booth says London needs to get more competitive

Clement Booth Chairman of Allianz UK has told a meeting of senior industry figures the UK has missed out on billions of dollars of capacity in the past three decades as other financial centres have been more competitive in luring underwriters.

Bermuda, Broking, Market Reform, Regulation

XL Re and Aon Benfield in ACORD over transaction scheme

XL Re, the global reinsurance operations of XL Group and Aon Benfield today announced that XL Re XL’s Bermuda-domiciled reinsurance subsidiary has teamed up with Aon Benfield to become the first local reinsurer to successfully implement automated accounts and cash transactions using ACORD messaging standards.

London, Market Reform, Regulation, Results

Market calm despite Xchanging’s woes

The London market has remained fairly stoic amid the media storm which has hit the company which is entrusted with its back office processing and is a core stakeholder in its drive for market reform.

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