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Ark Syndicate grabs senior casualty underwriter from Aspen
A senior casualty underwriter from Bermudian (re)insurer Aspen Re is to move to Lloyd's syndicate Ark Syndicate Management, Reinsurance has learned.
Ace establishes new Swiss insurance company
Following the redomestication of Ace's holding company to Zurich in July 2008, the company said it has now founded a new Swiss insurance company.
Heritage expands into Bahrain
Heritage has been granted a licence by the Central Bank of Bahrain for the establishment of a risk and insurance management company in Manama, Bahrain.
Munich Re said to be targetting AIG Asia assets
Munich Re are looking at AIG's Asian assets, a senior member of staff told wire reporters at the East Asia Insurance Congress.
MMC eyeing acquistions
Marsh and McLennan, the financial services giant that owns insurance broker Marsh and reinsurance broker Guy Carpenter, said it has over 22.6m shares of its common stock available for acquisitions.
Demand for reinsurance surging say Munich Re
Demand for reinsurance products has surged as a result of the financial crisis, Munich Re said today.
Axa cuts earnings forecasts; shares fall over 11%
Axa, the French insurance giant, has cuts its earnings outlook and has admitted that its plans for 2012 to be "obsolete" in an investor meeting today, sending shares down nearly 11%.
Homeserve to reorganise to cut costs
Homeserve has decided to reorganise its UK businesses to save it £5m.
FSA publishes RDR feedback statement
The Financial Services Authority (FSA) has published its Retail Distribution Review (RDR) feedback statement outlining proposals to give more consumers confidence and trust in the retail investment market, at a time when consumers need real help and…
Wells Fargo Insurance Services buys Michigan risk manager; says not done yet
Wells Fargo Insurance Services, the US bank-owned insurance brokerage said it has acquired the assets of Troy, Michigan's Doeren Mayhew Risk Management for an undisclosed sum.
AIR launches inland flood model
Catastrophe modelling company AIR Worldwide Corporation has launched an inland flood model for Great Britain.
FTSE surges after UK pre-budget report, Citi bailout
The FTSE-100 is up over 9% after a rescue plan for ailing US bank Citi was added to by UK Chancellor of the Exchequer announced a series of measures to help Britain's struggling economy.
Corporation tax increase on small businesses postponed
The 1p tax increase for small businesses, from 21% to 22%, set to be introduced next year has been suspended by chancellor Alistair Darling in his pre-Budget report today.
Value of claims rise 58%, says ABI
More businesses are being helped by their trade credit insurance policies, according to figures published by the Association of British Insurers.
New emergency protection policy launched for individuals
Assurant Solutions has written a new type of insurance cover for individuals designed to provide assistance in the event of an accident or emergency.
Totty outlines First Assist restructure
First Assist Legal Protection is restructuring its business areas to focus on growth opportunities in 2009.
Former Swiss Re head of US alternative investments goes to private equity firm
Aquiline Capital Partners, a New York-based private equity firm investing in financial services, announced today that Deborah Bernstein and Jason Rotman have joined the firm as investment professionals.
ISO acquires Atmospheric and Envrionmental Research
Modelling agency ISO announced today it has acquired Atmospheric and Environmental Research, Inc. (AER), a premier environmental and scientific research and predictive modeling company. Terms were not disclosed.
Hiscox teams up with RI3K for reinsurance purchases
Specialist insurer Hiscox will launch a trial of the RI3K trading service for part of its 2009 reinsurance purchases this month.
GAB Robins grabs new account
GAB Robins has been appointed by Cassidy Davis to provide investigation services on payment protection insurance claims, the company announced today.
Tokio Marine net income drops nearly 76%
(BESTWIRE) - Tokio Marine Holdings Inc. reported 75.9% drop in net income to 18.1 billion yen in the six months ended Sept. 30 as the Japanese economy experienced a slowdown in exports attributed to the global economic downturn.
Aon comments on changing buyer market
Company sellers are facing a new hurdle as buyers are increasingly seeking to recover damages for financial discrepancies on the cusp of completion, said Aon today.