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Renaissance Re, Everest Re deliver loss estimates
Bermudian reinsurers Everest Re and Renaissance Re have said that they will be hit by losses from the Chilean earthquake earlier in March.
Reinsurance | 11 Mar 2010
RSA swoops for marine business
RSA's Danish subsidiary Codan Forsikring A/S has acquired the renewal rights to TrygVesta's marine hull portfolio for DKK 50m (£6m) in cash.
Post | 11 Mar 2010
Baugh to head up European operation in Chartis shake-up
James Shea, currently regional president for Chartis Central Europe & Commonwealth of Independent States, will become managing director of Chartis UK.
Post | 11 Mar 2010
Hannover Re posts substantial profit growth
Hannover Re closed 2009 by generating an operating profit in excess of one billion euros for the first time.
Reinsurance | 11 Mar 2010
RMS predicts insured losses from Xynthia could rise to €2bn
Risk Management Solutions has estimated that private market insured wind losses from Windstorm Xynthia will fall between €1.0bn and €2.0bn.
Post | 11 Mar 2010
Mutual body blasts solvency II plans
"If the principle of proportionality introduced by Solvency II does not work in practice, we are likely to see aggressive market consolidation," claims AMICE boss.
Post | 11 Mar 2010
CEA: still time to get Solvency II right despite fears over Ceiops
A new CEA report demonstrates that overly prudent capital requirements would restrict the insurance industry's role not only as a risk-absorber but also as an institutional investor financing long-term economic growth.
Post | 11 Mar 2010
Commission disclosure fear for brokers seeking IPO
Brokers planning to list on the London Stock Exchange should be wary of potential changes to commission disclosure rules, KPMG warned this week.
Post |
10 Mar 2010 
Munich Re boss confident of €2bn profit in 2010 despite early losses
Gross premiums written rose by 9.5% to €41.4bn (€37.8bn). But if exchange rates had remained the same, premium volume would have increased by 9.9% compared with the previous year.
Post | 10 Mar 2010
Swiss Re gives quake and Xynthia loss estimates
Reinsurer claims losses for the European winter storm to be approximately $100m.
Post | 10 Mar 2010
Fortis international GI arm COR worsens to 107.8% in 2009
The group recorded an overall net profit EUR 456m, although its non life business net profit of EUR 74m, was negatively impacted by higher claims in Belgium and the UK.
Post | 10 Mar 2010
Fortis Insurance to be rebranded "Ageas"
In a statemement it added: "This change of identity is a logical next step in our evolution from bancassurer to international insurance company. Our new name confirms our rebirth as a new company, but one that will benefit from past experience and the professional expertise concentrated within our group."
Post | 10 Mar 2010
CED International acquires Interiura
CED International has swooped for international claims handling network Interiura, from parent company Arag.
Post | 09 Mar 2010
Glacier reports $34m growth in net income
Glacier has reported net income for 2009 up to $60m and a total gross written premium decline pf 17% from 2008.
Reinsurance | 09 Mar 2010
Liberty raids Marsh for Hogg to lead strategic assets arm
The arm aims to develop and underwrite a range of specialist risks including intellectual property, reputational risks, cyber insurances and non-material damage business interruption.
Post | 09 Mar 2010
Marsh to take $600m hit on Kroll disposal
The Financial Times reports The Carlyle Group, Apax Partners and General Atlantic have all entered bids by the deadline for first expressions of interest in late February.
Post | 09 Mar 2010
Axa moves to expand Asian GI business
Its Malaysian subsidiary, Axa Affin General Insurance Berhad has received the approval from Bank Negara Malaysia, to acquire 80% of BH Insurance Berhad from Boustead Holdings Berhad and 20% from Felda Marketing Services Sdn Bhd.
Post | 08 Mar 2010
QBE restructures European business
With immediate effect, QBE will operate four product underwriting divisions: casualty & motor; property; marine & energy; and reinsurance & specialist.
Post | 08 Mar 2010
RMS: detailed damage reports following Turkish earthquake still scarce
The Unites States Geological Survey has reported a fixed focal depth of 6.2 miles (10 km) and an epicentral location close to the village of Basyurt, 340 miles (550 km) east of the Turkish capital, Ankara.
Post | 08 Mar 2010
Lloyd’s partners with QuIC for Solvency II preparations
Specialist insurance market Lloyd’s has selected QuIC Financial Technologies to aid its preparations for Solvency II.
Post | 08 Mar 2010
AIG to sell non-US life unit to MetLife
AIG’s board of directors approved the sale of the division to MetLife on March 5th, according to newswire Bloomberg.
Reinsurance | 08 Mar 2010
Mapfre agrees €446m bancassurance deal with Caixa Catalunya
Spanish insurer Mapfre has agreed to jointly develop a range of insurance and pension products with Caixa Catalunya in a deal worth €446.8m (£403.3m)
Post | 05 Mar 2010
French insurer finalises transaction after Barclays deal
After obtaining customary regulatory approvals, CNP Assurances had finalised the transaction with Rentipar Seguros SGPS for the sale of its stakes of 83.52% et 83.57% respectively in Global - Companhia de Seguros, S.A. and Global Vida - Companhia de Seguros de Vida, S.A. (together, Global Seguros), for a total final consideration of 114.6m euros, valuing both companies at 137.2m euros for 100% of share capital.
Post | 05 Mar 2010
Aviva nominates CFO for new board position
Patrick Regan joins fellow candidates Fieke van der Lecq, Professor of Pension Markets and Peter Hartman, president and CEO of KLM Royal Dutch Airlines.
Post | 05 Mar 2010
Delta Lloyd does not forsee German sale
Delta Lloyd Germany realised €579m in life gross written premium in 2009, almost 16% of Delta Lloyd Groups' total life GWP of €3642m.
Post | 05 Mar 2010
Allianz: Greece no danger to the EMU
In an international comparison, Allianz continued, the EMU as a whole fares relatively well with a debt ratio of 78.2 percent of gross domestic product. Japan's debt ratio of around 190 percent is substantially higher and the USA, with 83.1 percent of GDP, also fares worse than the euro area.
Post | 04 Mar 2010
Alterra names new executives
Alterra, the new name for the newly-combined entities of Bermudian reinsurance rivals Harbor Point and Max Capital, has named its executives.
Reinsurance | 04 Mar 2010
Thornside and Argos to partner in Ireland
Thornside, the pet insurance division of Capita Insurance Distribution, is to work with Home Retail Group to provide and administer its new pet insurance programme in Ireland.
Post | 04 Mar 2010
Delta Lloyd sees new premiums drop
Gross written premiums amounted to € 1423m (2008: € 1378m), an increase of 3%. The segment's operational result after tax and non-controlling interests fell to €88m (2008: €112m).
Post | 04 Mar 2010
Aviva UK GI book shrinks by over £1.1bn in 2009
Aviva UK's general insurance operating result fell to £520m (2008: £642m) in 2009. Its combined operating ratio remained static at 99%.
Post | 04 Mar 2010
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