The March 2011 issue of Reactions is now online. Below is a selection of articles from the issue. Click on the headlines to view.
The cover story is big-hitting panel of CEOs from Allied World, Alterra, Arch Capital, Ariel Re and Munich Re America, who give a downbeat outlook for underwriting returns and the investment climate.
In other features we: review the facultative market, and find that this part of the market is under pressure as well; interview Barnabus Hurst-Bannister, the techophobe leading Lloyd’s modernisation drive; report what was on the minds of London market executives at a business club Reactions held in January; and round up the year’s action in the insurance-linked securities market in our Convergence Quarterly section.
The issue also features a special report on insurance asset management. This is an increasingly important topic as firms look to investments to boost returns, given the soft underwriting conditions.
US Insurance Panel: Pulling no punches
A big-hitting panel of insurance and reinsurance leaders from Allied World, Alterra, Arch Capital, Ariel Re and Munich Re America had a frank discussion at a Reactions business club in New York, giving a downbeat outlook for underwriting returns and the investment climate.
Facultative reinsurance: nowhere to go but up
Reactions canvassed facultative reinsurance brokers and underwriters to gauge market sentiment. Overall, outside of offshore energy, the fac picture remains difficult to read.
INTERVIEW: Barnabas Hurst-Bannister - The technophobe leading Lloyd’s modernisation drive
Barnabas Hurst-Bannister may strike one initially as an old school boy in a new man’s world but initial impressions can be deceiving. This chap is in charge of London’s reform process.
The talk of the Lloyd’s and London market
The future of the subscription market and broker commission were among the topics of discussion at a Reactions London Business Club in January.
Convergence Quarterly – where insurance and the capital markets meet
Investors eagerly welcomed a string of diversifying cat bonds in the fourth quarter, and hope for more of the same in 2011.
Delayed Brazilian reinsurance rules
Tough rules for reinsurers in Brazil may have been delayed but look like being implemented without dilution.
Legal Analysis: Brazilian government changes reinsurance rules
The Brazilian government may have decided to keep large reinsurance risks (such as those related to the fast approaching World Cup and Olympic Games) under Brazilian control and inside Brazil.
Model debate could be just a storm in a teacup
RMS is rolling out its much anticipated - and analysed - new version of its US Hurricane Model at the end of February. Concerns over its impact seem exaggerated.
SPECIAL REPORT: ASSET MANAGEMENT
Insurance Asset Management: New frontiers
Insurers beset by soft rates are looking to new frontiers in the pursuit of yield, because staying within conservative asset classes means accepting disappointing yields. This feature includes a ranking of top third-party insurance asset managers.
Mixing a strong cocktail for Solvency II
European insurance asset management: The onset of charges for different assets under Solvency II is causing European insurance firms to change the mix of their portfolios.
COMMENT - FREE TO VIEW
AIG’s unexpected $4.1bn reserve charge
The news that AIG expects to report a $4.1bn property/casualty reserve charge assigned to Chartis, its general insurance unit, in its fourth-quarter results has raised fresh concerns about the bailed-out firm.
Insurers shouldn't ignore other half
Insurance and reinsurance firms are not fully taking into account how the other half of their balance sheets in this investment environment will affect their returns during this soft market, says Reactions’ editor Michael Loney.
Buttocks clenched in the back-office
Insurance business processing firm Xchanging’s troubles could have frightening consequences for the London market and elsewhere, says Reactions’ contributing editor Garry Booth.
Will Omnibus II delay Solvency II?
Adrian Ladbury argues Omnibus II reassesses the urgency surrounding Solvency II and its January 1, 2013 deadline, and is far more significant than perhaps the re/insurance industry realises.
New biblical business insurance coverage launched
An innovative biblical business interruption coverage has been launched by Exodus Re aimed at multinational businesses concerned about supply chain resilience.
Technology CEO freaks IT audience
The CEO of a leading insurance IT company has offered to resign after admitting that he doesn’t know what his company actually does.
RISKbitz's annual results round-up
RISKbitz rounds up the results posted by Debaucher Re, Brokeback Broking Group, Gollum Re and Hoggwartz Global Insurance.