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Australia fire claims mount

(BESTWIRE) - This month's Victoria bushfires and north Queensland flooding contributed heavily to mounting claims costs of Australian insurers, with estimated claims of A$500m (US$323.7m) for the bushfires and A$150m for the flooding.

Catastrophes send Advent to loss

A wave of natural catastrophes as well as two major US hurricanes sent Lloyd's reinsurer Advent diving to a net loss for the 2008 full year, the company said in a statement.

Scor closes $200m Cat bond

French (re)insurer Scor said it has closed the three series of its "Atlas V" catastrophe bond, the first "cat bond" issued worldwide in six months.

Swiss Re to cut bonus pool by 50%

Swiss Re is to cut its bonus pool by 50% after the Swiss reinsurer battled heavy investment and catastrophe losses during 2008, Reinsurance has learned.

Groupama record pre-tax profits of £18.5m

Groupama Insurances said that although the policy count remained relatively static, revenues at the insurer lifted 6% to £432.6m (2007: £408.7m), reflecting an improving rating environment in personal lines during 2008 with prices rising consistently in…

Plum launches MNW product

Plum Underwriting has launched Plum Elite a mid net worth (MNW) product, exclusively for the UK broker market. It has also developed and re-launched its non-standard household product, Plum Flex.

Beazley and Plum launch MNW product

Beazley is underwriting a new mid-net-worth home insurance product that has been launched by underwriting agency Plum Underwriting to target the UK broker market.

Bond Insurer MBIA splits

(BESTWIRE) Financial guaranty insurer MBIA Inc. will split itself into two entities, one covering U.S. public finance transactions while the other retains the company's more troubled book of structured finance guaranties.

Loss adjuster swoops for Zurich duo

Teceris Liability Services, the recently launched specialist liability arm of Teceris has appointed two new adjusters, Ian Pearson and Chris Ascough, both formerly of Zurich Insurance.

Axa UK reports 36% rise in GI profit to £244m

Axa UK has reported general and healthcare insurance revenues improved by 2% from £3.49bn in 2007 to £3.545bn in 2008. The insurance giant added that whilst there has been a hardening of premium rates in some sectors, competitive conditions in many…

L&G award for Rainbow

Repair and restoration company Rainbow International has scooped a runners-up accolade at the Legal ...

Ask the expert

I'm worried I'm at risk of redundancy. What should I be doing now to ensure I hit the ground running if or when that happens?

Penny Black's insurance week

Having finally completed the management buyout of Hastings earlier this month , Post readers probab...

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