Reinsurance

Despite many factors that should be contributing to a hardening market overall, competition in some coverage lines and geographic regions has heated up, while activity in many other areas remains tepid, keeping price hikes more modest than anticipated.

The chairman of Flagstone Reinsurance Holdings expects the board of IPC Holdings to decide by tomorrow whether it will endorse Flagstone's offer to acquire IPC in a deal valued at $1.8 billion.

The Hartford Financial Services Group is suing Arch Insurance Group for allegedly poaching its financial products division of executives and stealing trade secrets.

While hopes were high for the 2009 reinsurance market after the troubles of 2008, many rate expectations were not met, although capacity has remained steady, reinsurance brokerages reported.

The U.S. House of Representatives plans to speed up consideration of a measure to reform regulation of surplus lines insurance and reinsurance, industry lobbyists say.

There is something unseemly about the face-off in U.S. District Court between Maurice "Hank" Greenberg and AIG over billions in stock supposedly set aside as incentive compensation for employees.