News
Bermuda increases stake in US property market.
Bermuda could overtake London and continental Europe in the next 12 months to become the second-larg...
ESG makes increased loss.
Bermuda-based ESG Re made a loss of $51.2m in 2002 on net earned premiums of $134.7m. The company...
Diary.
MAY 2003 4-7 ISO 2003 PCS Catastrophe Conference Florida, US Insurance Services Office +1...
Appointment at JMD Group.
Steve Adams has joined JMD Group as the director of JMD Specialist Reinsurance Services. He was prev...
Appointment at XL London Market.
Managing agency XL London Market, a subsidiary of XL Capital, has appointed David Whiter senior vice...
Appointment at Zurich Financial Services of Switzerland.
Zurich Financial Services of Switzerland has appointed a new global head of group reinsurance. Thoma...
ESG makes increased loss.
Bermuda-based ESG Re made a loss of $51.2m in 2002 on net earned premiums of $134.7m. The company...
Fast forwarding finality.
Business in run off has traditionally stumbled on for years, but industry insiders are optimistic that changing attitudes and new approaches are speeding up the process. As John Sanders explains, finality is increasingly seen as a realistic goal rather…
Swiss Re does not impress.
Moody's has translated its concern about Swiss Re's profitability into a change to negative from sta...
Insolvency law still unclear.
Firms that write both insurance and reinsurance in the UK still had, as Reinsurance went to press, n...
First-quarter 2003 catastrophe losses in the US.
First-quarter 2003 catastrophe losses will cost US property and casualty insurers a total of $1.46bn...
When minds meet.
Peter Chaffetz and Steven Schwartz consider Canada Life v Guardian and the fine line between contracts that are void and those that are ambiguous.
Hannover ratings cut.
Hannover Re pledged to defend its credit rating, possibly with capital raising, as it announced a ne...
Gulf states move to set up reinsurer.
The Gulf Co-operation Council (GCC) of the Persian Gulf could decide by the end of the year whether ...
Insurance woman of the year.
Fiona Luck (left), executive vice-president of XL Capital's group operations, has been named 2003 in...
Munich Re happy with capital.
Munich Re said it had no further plans to raise capital beyond last month's EUR3bn ($3.2bn) and £300...
Converium working with group of banks.
Swiss reinsurer Converium is working with a group of banks to set up an $800m syndicated letter of c...
A flight to quality.
The aviation industry is facing a bumpy ride as it navigates through the storm clouds, making the financial security of its (re)insurers paramount, says Andreas Peter.
Unknown may resist analysis.
The industry is keen to model terrorism risk, but such attempts to second-guess terrorists may never be very successful, says John Sanders.
Appointment at Equitas.
Scott Moser became managing director of Equitas, the Lloyd's run-off company, on 1 April, and will s...
Liable to rise.
A shake-up in aviation liability requirements in the European Union could mean more business for (re)insurers, or a move away from commercial cover, according to Nicholas Hughes and Fernando Albino.
St Paul announces Q1 results
US-based (re)insurer St Paul has announced a $181m profit for the first quarter of 2003, a 36% increa...
Scor ups its stake in IRP.
French reinsurer Scor plans to increase its stake in its Dublin-based retrocession vehicle, Irish Re...
Incisive Media acquires the Risk Waters Groups.
Reinsurance is pleased to announce that its parent company, Incisive Media, has acquired the Risk Wa...