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Daily NewsFlash : April 17, 2013

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Wednesday, April 17, 2013

Boston Marathon Bombing May Spur TRIPRA Renewal Debate

TRIAThe April 15 bombing that left three people dead at the annual Boston Marathon is expected to spur the debate on Capitol Hill over whether lawmakers should extend the Terrorism Risk Insurance Program Reauthorization Act, currently set to expire in December 2014.

The insurance industry is taking st...

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Global Insurance Rate Firming Continues in Q1: Marsh

March on ratesGlobal insurance rates continued to firm on average in the first quarter of 2013, following a trend established over the previous 18 months, according to figures released in Marsh's latest Global Insurance Market Quarterly Briefing. In the US, most major insurance lines saw

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Willis Extends Call Option on Acquisition of Gras Savoye

Willis acquisitionWillis Group Holdings, the global risk advisor, insurance and reinsurance broker, today announced that it has extended by one year the exercise date of its call option to acquire full ownership of Gras Savoye, the leading French insurance broker, from 2015 to 2016. The amendment to the Sharehold...

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Financial Leverage Declines for P&C Insurers

Fitch ratingsA new report from Fitch finds property/casualty insurers taking advantage of the low-interest rate environment; replacing higher-coupon debt at lower interest costs.

While insurers are taking advantage of the current interest rate environment to replace higher-coupon debt at lower interest costs, a...

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Ace Launches $95 Million Vehicle to Write Collateralized Reinsurance

AceAce Ltd. said it's launched a $95 million special purpose vehicle, Altair Re, to provide additional collateralized capacity for its global reinsurance business.

The capital will support Ace Tempest Re's global property catastrophe reinsurance portfolio, the company said.

"Altair Re gives us addition...

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Glatfelter Announces New Private and Charter School Program

GlafelterGlatfelter Public Practice (GPP) is pleased to announce the launch of a private and charter school insurance program. Available in the states of AZ, CA, CO, CT, DE, ID, MA, MD, MI, MN, NH, NJ, NM, OH, OR, PA, UT and WI, this program offers specialized insurance for private schools, select religious sc...

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Upstream and Downstream Energy Markets Experience Contrasting Fortunes: Willis

Willis Energy marketRecent natural catastrophe losses, including last year's Hurricane Sandy, have prompted a mild hardening in the Downstream Energy insurance market, so much so that some Downstream insurers may be on the cusp of withdrawing from the market, according to Willis Global Energy, part of Willis Group Holdings, th...

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