Reinsurance
Three to leave Antares for HCC
Tony O'Connor, Richard Wells and Christopher Parker are to leave the Lloyds syndicate for HCC according to market sources
Major catastrophic event during this hurricane season could devastate the US insurance landscape, says EMB
Global actuarial consulting firm EMB today claimed that natural disasters are getting costlier while the shrinking economy is making property and casualty insurers more vulnerable.
DRUK scheme sanctioned by high court
DRUK's Solvent Scheme of Arrangement was sanctioned by the High Court on 16 June
William Fischer promoted to CEO, Axis Re
Axis Capital has announed the promotion of William Fischer to CEO, Axis Re
Gen Re, MMC, Ace win court ruling
Insurance giants see lawsuit dismissed
Kuwait reinsurer downgraded
AM Best has downgraded Kuwait reinsurer Al Fajer
Cooper Gay raids Benfield to boost onshore energy team
Robert Glynn has worked for Benfield and Marsh, where he was a practice leader.
Aon Benfield strikes new long term relationship
Aon Benfield CEO Andrew Appel claims deal will put it at the forefront of the industry.
Ace Europe opens new office
Ace Europe expands into Turkey, a move CEO Andrew Kendrick said now gave it branches in over 20 countries.
Ike intensifies to Category 2 hurricane, headed towards Gulf of Mexico
Hurricane Ike has intensified to a Category 2 hurricane and is expected to move to a Category 3 in the next "day or two", according to the US National Hurricane Centre.
Coastal flooded high-risk property insurance losses could double by 2030- Lloyds
Insurance losses from coastal flooding for high-risk properties could double by 2030, according to a new report published today by Lloyd’s and Risk Management Solutions.
Glacier Re H1 net income off $11m
Glacier Re's first half net income fell $11m to $22m from $33m a year earlier, the company said in a statement.
Christian to head up Benfield's international arm -sources
Dominic Christian, the head of Benfield International, will head up the newly-formed Aon Benfield Re's international operation, sources told Reinsurance.
Hurricane Gustav downgraded to Cat 2 hurricane
The US National Hurricane Center has downgraded Hurricane Gustav to a "Category 2" hurricane.
Hurricane Gustav closes in on New Orleans
Hurricane Gustav, which is closing in on the coast of Louisiana, could produce a storm surge of between 13 and 18ft if it gets to a Category 4 hurricane as forecast, and may overtop some floodwalls and levees in New Orleans if it were to hit the city,…
Three year wait for extra UK flood defence funds
The UK insurance industry’s plea to raise flood defence spending levels immediately after this summer's heavy losses, appears to have fallen on deaf ears, after a report from the UK's finance minister revealed no change in policy.
EC enquiry pulls punches on subscription market practices
The EU Competition Commission has issued its final report on the business insurance sector and raised concerns about the operation of two areas of business insurance
Towergate buys Open International for £276m
UK SME broker aggregator Towergate has acquired broker software house Open International Limited for £276m ($550m)from Montagu Private Equity.
London market insured McLaren F1 prize
The surprise success of Formula 1 (F1) racing driver rookie Lewis Hamilton has had London's contingency market buzzing after it emerged his McLaren F1 team's lead sponsor has covered win bonuses through an insurance policy.
Clarification re Everest re article April 2007 pages 18-19
In last month’s (April 2007) issue of the magazine we ran an interview by the journalist Mairi Mallon with Joe Taranto of Everest Re, charting his meteoric rise to chief executive and chairman of this global reinsurer.
AIR puts initial Katrina estimate at $12bn-$26bn
AIR Worldwide estimates that Hurricane Katrina could cost the insurance industry between $12 and $26 billion.The insured losses caused by Hurricane Katrina are likely to make it one of the two worst natural catastrophes in US history.
Thunder Horse damage rethink
British Petroleum (BP) has confirmed that crews placed aboard the BP operated Thunder Horse platform in the Gulf of Mexico have restored partial power to the listing platform, and are working to begin pumping operations to restore the platform to a…
Reinsurance renewals “lack uniformity”, claims Aon
One of the overriding characteristics of the 1 July reinsurance renewals this year has been their lack of uniformity, according to Aon.