AIR Worldwide: Oklahoma bill could be $6bn
The devastating tornado which ripped through the Oklahoma City suburb of Moore on 20 May could cost as much as $6bn in insured damages, according to catastrophe modeller AIR Worldwide…Read more
Amlin upbeat over rating environment
Amlin plc has adopted a broadly positive outlook over rating in its latest trading statement, including including US P&C and marine liability…Read more
Marsh calls market meeting to debate $1.1bn Rio Tinto loss
The cave-in at Rio Tinto's massive Bingham Canyon mine in April is now thought to have caused a loss to the direct and facultative (D&F) market of up to $1.1bn, Inside FAC understands…Read more
Demand drops off in GoM
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. …Read more
Capacity influx expected to continue
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)…Read more
AIG and Berkshire vie for D&F heartland
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…Read more
Mining market eyes Rio Tinto renewal
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…Read more
Aegis leads $75mn Bowen plant loss
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…Read more
Modest Texas Fertilizer programmes revealed
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…Read more
Inside FAC Profile: Shane Doyle
Shane Doyle, CUO, Dual… Read more
Analysis: Political violence
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… Read more
Sector profile: Offshore energy
What do you get if you add abundant capacity and a modest loss experience? Yes, you guessed it... Inside FAC takes a peek at the rating scene for the vibrant offshore (re)insurance market… Read more
Country profile: Australia
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… Read more
FAC Comment
See more FAC CommentsPrime steak
Has Ajit Jain switched to a stronger brand of coffee? Never one to be accused of unexciting plays, his recent moves have been spectacular … Read more
Feature of the month
See more features of the monthThe FAC Door
Blimey oh riley, the arrivals and departures lounge has been all a flutter this month after so many AIG heavyweights, including the head of its Lexington arm, Dave Bresnahan, and its US P&C supremo Peter Eastwood unexpectedly turned up, en route to Berkshire Hathaway… Read more
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