Garside promoted to Head Bermuda Property at Liberty Specialty Markets

Liberty Specialty Markets, the specialty and commercial insurance and reinsurance arm of Liberty Mutual Insurance, has promoted Nicholas Garside to the role of Head of Bermuda Property. Garside has worked in insurance and reinsurance for more than 15 years, having begun his career on the broking side, before moving into roles read the full article →

Alternative capital ups capacity for power property risks. ILS interested

The influence of alternative forms of reinsurance capital are beginning to be felt much more broadly across both the insurance and reinsurance market, with one area of note being the market for power industry property insurance risks. According to insurance and reinsurance broker Willis Group's latest report on the Construction, Property read the full article →

Retrocession market pricing continues to rise at June renewals

Reinsurance broker Guy Carpenter has published its update report on the state of the reinsurance market at the 1st June renewals this morning. Generally reinsurance price rises have begun to slow according to the report as the light catastrophe losses of the start of 2012 combined with positive reinsurer results read the full article →

Some insurers pull out from catastrophe affected regions and loss making lines

Overall the global insurance market continues to be well capitalised and generally competitive despite the major catastrophe losses experienced this year says insurance broker Marsh in their Second Quarter 2011 Insurance Market Update which was published yesterday. However the heavy catastrophe experience and losses has made some insurers rethink their businesses read the full article →

Property damage from drought-induced soil subsidence increasing in Europe

A new study from reinsurer Swiss Re shows that with drought conditions becoming more common in Europe a side effect has been an increase in the incidence of drought induced soil subsidence, resulting in higher levels of property damage. The study suggests that the changing climate will magnify the risk read the full article →