Business & Finance

Reinsurance spend to increase at Florida renewal. Reinsurance spend is expected to increase in Florida at this summer’s renewals, with Flagstone Re’s chief executive, David Brown, predicting state-backed insurer Citizens will potentially buy up …  

Reinsurance spend to increase at Florida renewal. Reinsurance spend is expected to increase in Florida at this summer’s renewals, with Flagstone Re’s chief executive, David Brown, predicting state-backed insurer Citizens will potentially buy up …  

Christmas Melbourne hailstorm hits Suncorp’s 1H. A six-month catastrophe bill of A$389m ($414m) and soaring reinsurance costs contributed to profits in Suncorp’s insurance division dipping by 45% year-on-year to A$162m for the first half of the …  

Bermuda premiums down 10% as assets rise. Gross written premiums in Bermuda’s insurance sector declined 10% year on year, according to the latest statistics. The island’s regulator, the Bermuda Monetary Authority (BMA), said this is proof the …  

Slimmed-down Flagstone looks forward to 2012. David Brown, Flagstone Re’s chief executive, said the carrier is making significant progress with the sale of its Lloyd’s and Island Heritage businesses, with a shortlist of unnamed “qualified …  

Bolt warns syndicates against additional broker payments in light of Bribery Act. Lloyd’s has issued an explicit warning to its participants on their adherence to the UK’s Bribery Act and will insist that from next month managing agents must …  

UN calls for ‘climate-focused’ risk-mitigation fund for sub-Saharan Africa. Almost half of major investors in low-carbon energy technologies in developing countries say the availability of risk-mitigation instruments are of major importance in …  

JLT seeks to end Aon’s and Marsh’s dominance of top-end solicitors’ PI market. Competition at the top end of the solicitors’ professional indemnity (PI) broking market will intensify even further after JLT unveiled plans to become the leading …  

Gard increases entered tonnage 13% and celebrates successful renewals. Gard has added nearly 13% to both its entered protection and indemnity (P&I) tonnage and its owned tonnage at the end of what it termed one of the most successful P&I renewals in …  

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