Reinsurance

As peak hurricane season approaches, both insurers and government officials are outlining their strategies and plans to protect against what is expected to be an increasing number of catastrophic storms.

To say American International Group is having a tough month would be an understatement.

The board of IPC Holdings, Ltd. has finally agreed to a merger proposal from Validus Holdings Ltd. after spurning an initial offer and multiple court battles with Validus.

Although reinsurance rates have increased recently, only moderate growth in market volume can be expected this year, according to an analysis by Holborn Corp. insurance brokerage.

Fitch Ratings has placed the "A-minus" ratings of Bermuda-based Flagstone Reinsurance Holdings, Ltd. on Rating Watch Negative in response to Flagstone's $1.8 billion offer to acquire IPC Holdings, Ltd.

An executive involved in the bidding war for IPC holdings said after that battle ends the merger and acquisition landscape will likely heat up further in Bermuda.