Lloyd’s/London
Chilean earthqauke may cost $15-30bn, says Eqecat
The earthquake that struck offshore of Southern Chile could cost $15-30bn, according to risk modelling firm Eqecat.
AIG shares down 8% after reporting heavy losses
Shares in AIG were down 8% in mid-morning trade on the New York Stock Exchange after the beleagured insurer reported a net loss of $8.9bn in the fourth quarter of 2009.
QBE Europe profits dip on back of increased claims
The business reported a rise in incurred claims to A$2.01bn (2008: A$1.76bn), whilst its expenses reduced to A$426m (2008: A$483m).
Lancashire net profits rise despite fall in premiums
Lancashire's net profits rose in the fourth quarter and in 2009 despite a fall in gross written premiums during the periods.
Price Forbes Fac brokers leave - sources
Four facultative reinsurance brokers have left Price Forbes amid rumours that it is closing its facultative reinsurance broking team, Reinsurance has learned.
Looking Back - Inquiry into the missing Salem tanker
Fraud squad officers are planning a month-long inquiry in South Africa, Greece and Liberia into the riddle of the missing $24m tanker Salem (215 000 tons) and its oil cargo worth $56m, which vanished en route to Europe in January.
In Series - Solvency II: Stretching for the summit
Preparing for Solvency IIis turning out to be a much bigger challenge than many initially anticipated. Sam Barrett reports on what companies are doing to scale up in time.
Election 2010: Interview - Mark Hoban MP, Conservative
If the Conservative Party regains power at the 2010 elections, the insurance industry can expect to see a massive shake-up. In the first of Post's six-part profile of all the major parties Stephanie Denton talks to MP Mark Hoban, shadow minister for the…
Fenchurch in Temple tie-up
New legal practice Fenchurch Law has agreed a deal with legal expenses insurer Temple Legal Protection to offer clients after-the-event policies on a delegated authority basis.
Guy Carpenter COO to leave company- sources
Another senior member of Guy Carpenter's executive committee has resigned from the broker, Reinsurance has learned.
Lloyd’s named UK’s strongest insurance brand
Specialist insurance market Lloyd’s has been named as the UK’s top insurance brand.
Senior executive leaves Allied World
One of Allied World's senior international property underwriters has left the Bermudian (re)insurer, Reinsurance has learned.
HSBC insurance boss to step down
Clive Bannister will be replaced by Asia boss David Fried, according to Reuters.
Lloyd's broker expands overseas footprint with acquisition
Windsor has completed a deal for the minority interest in BGH Risk Solutions, a liability broker that operates in Canada, New Zealand and Australia.
AM Best "positive" on global non-life reinsurance sector
The current outlook implies that the majority of 2010 reinsurer rating actions are likely to be affirmations, with only a modest number of anticipated rating or outlook changes.
Energy insurance costs expected to fall by up to 20%
Despite an increase in the size and scale of new energy infrastructure projects, national oil companies and other energy and chemical concerns are experiencing fewer and less-severe major losses than in previous years, according to Marsh.
Biba 2010: professionalism focus
The British Insurance Brokers’ Association has confirmed its business focused seminar programme for its 2010 conference and exhibition to be held on 19-20 May. Post, Insurance Age and PB are the official media partners for the conference.
Torus receives $185m capital injection
$150m of the additional financing to be provided by private equity firm Corsair Capital
Aegis enters reinsurance treaty market
Aegis London has entered the reinsurance treaty business with the appointment of Chris White as property treaty underwriter.
Validus reports strong profit gain
Validus reported record fourth quarter profits and an increase in profit for 2009.
Post Magazine 18 February 2010
This issue included an interview with IRM chairman Andrew Keeling; analysis of loss adjuster Merlin's refinancing; a focus on Solvency 2: a report from Post's motor claims conference and roundtable; a reveiw of Chartered Broker Status; and analysis of…
Chartered Broker Status: Raising the bar
Now entering its third year, Leigh Jackson assesses take-up and any tangible benefits of the CII's corporate chartered status for brokers.
Heath Lambert launches council consortium
Heath Lambert is working with a group of district councils to establish a consortium for purchasing insurance cover in the face of pressure to cut public spending.
RFIB boss reveals plans to buy but not to float
Lloyd's broker RFIB's new chief executive has told Post he expects it to become acquisitive, but stressed that it has no plans to join the list of intermediaries queuing up to float on the London Stock Exchange.