Has Ajit Jain switched to a stronger brand of coffee? Never one to be accused of unexciting plays, his recent moves have been spectacular.
Surprise move comes despite market turnOffshore underwriters currently negotiating key Gulf of Mexico (GoM) renewals in the run-up to the official 1 June start of the US wind season are witnessing a significant fall in demand, with several major buyers walking away, Inside FAC can reveal.
Brokers and underwriters in the direct and facultative arena are expecting yet more capacity to enter their class this year, according to the findings of the latest exclusive Inside FAC Market Survey (see pages 9-12).
While insurance giant American International Group (AIG) appears to have recovered its mojo, with a good set of first quarter results and a push to increase its share of London market placements, rival Berkshire Hathaway is continuing with its own bid for a larger chunk of similar territory in the US.
2013 could be a pivotal year for the mining underwriting market following Rio Tinto's massive $1bn potential loss at its Bingham Canyon mine, Inside FAC understands.
US energy mutual insurer Associated Electric and Gas Insurance Services Limited (Aegis) is understood to the largest participant on the primary placement for the most significant power loss so far this year, Inside FAC can reveal.
The extent of the relatively modest direct exposures of the commercial insurance market following the explosion at the West Fertilizer plant in West, Texas last month have now surfaced.
London-headquartered aviation pool Global Aerospace is the lead underwriter on the JLT-placed programme purchased by Indonesian airline Lion Air, which suffered the total loss of a Boeing 737-800 on 13 April.
Underwriters on the directors' and officers' (D&O) programme for News Corporation are paying out $139mn after a settlement was reached in a long-running shareholders' action over the phone hacking scandal.
Buyers of insurance related to M&A activity are becoming increasingly comfortable with the sophistication of coverage options and are pursuing higher limits, Inside FAC has learned.
RMS is promising the biggest shake-up of the catastrophe modelling sector in years with the launch of its keenly anticipated new platform, RMS(one), in spring 2014.
Berkshire Hathaway's imminent entrance to the excess and surplus (E&S) market may derail the nascent hardening of US commercial insurance prices, according to Richard Kerr, CEO of MarketScout.
A&H head Branch to leave Beazley; Catlin lifts top line 12%; Mapfre reinsurance grows; Perils embraces Italy; Construction aids XL; Ascot continues US drive; Cathedral up for sale; Swiss Re posts $1.38bn Q1 net income; Scor sees credit book shrink; AJ Gallagher continues brokerage upswing; Infrassure downgraded; Fac boosts Aon revenues; New Islamic London insurer launched; Non-life lifts Hannover Re's first quarter
Shane Doyle, CUO, Dual
With the news that QBE is planning to expand its south-east Asian political violence (PV) book with the appointment of a new underwriter in Singapore, there's little doubt that this niche area of cover is now centre stage.
Australia has never been far from the news for the fac market in recent years, with mining claims in particular hitting the headlines. Inside FAC takes a trip down the shaft...