News
Legal division grows at IGI
General insurer IGI Group has appointed added to its new Legal Assist division, following its recent acquisition of Complete Claims Limited, the company announced today.
Bahrain's insurance market posts strongest-ever year in 2007
The Central Bank of Bahrain announced today that the Bahrain insurance market posted its strongest-ever annual growth during 2007, with gross premiums surging by 21% over 2006.
Video - Social networking and insurance
Ant Gould, group editor in chief, Post Magazine, talks to Doug Coombs, information strategist & enterprise content management product marketing leader, IBM Software Group about social networking and what this will mean for the insurance industry? Watch…
Platinum's Q3 net income falls
Platinum Re, the Bermudian reinsurer, reported a third quarter net loss of $45.3m compared to net income of $91.3m this time last year, while net income for the first nine months of the year to end-December fell to just over $154m from nearly $247m over…
Court approves settlement in suit Against Greenberg, CV Starr
(BestWire) — The Delaware Chancery Court has issued preliminary approval to a settlement in a shareholder derivative action between the Teachers' Retirement System of Louisiana and four former American International Group executives. Under the settlement…
AIM firm makes first acquisition since 2007 listing
Abbey Protection, the specialist supplier of legal and professional fees insurance products and services to UK small-to-medium sized enterprises, has acquired, Accountax Consulting, Accountax UK and Accountax Law for an initial consideration of £4.4m.
Allied World hires new chief investment officer
Allied World, the Bermudian (re)insurer said today that John Gauthier has joined Allied World as chief investment officer.
Fitch places XL Capital on 'negative' rating watch
Fitch Ratings has placed the ratings of XL Capital Ltd (XL) and its property/casualty (re)insurance subsidiaries, including the 'A' Issuer Default Rating (IDR) and the 'A+' Insurer Financial Strength (IFS) ratings of lead (re)insurance companies XL…
Argo Group to launch Argo Financial
Argo Group, the Bermuda-based (re)insurer,announced that it is launching Argo Financial.
US P&C industry statutory surplus set to decline £42bn at end of Q2
Marred by the clash of equity and credit-related losses on their asset portfolios, catastrophe losses resulting from an active hurricane season and an anticipated spike in directors and officers liability (D&O) claims, the US property & casualty industry…
Brit Insurance says 9-month GWP up 10.5%
Brit Insurance, the UK (re)insurer, said that gross written premiums for the first nine months of the year to end-September rose 10.5% to £1.12bn from just over £1bn a year earlier.
GAB appointed to investigate major claim
GAB Robins has been appointed to handle the Chase Farm Hospital fire claim, the company said today.
Synergy enters HNW market
Synergy Insurance Services has moved into the high net worth (HNW) sector with its Synergy Private Clients product.
VFM expands offering and doubles capacity
VFM Services has expanded its business as a claims outsourcer following the launch of a first notification of loss through to settlement service for the insurance industry.
US bond insurers planning Washington bailout plea
(BestWire) — Major financial guaranty insurers will meet Oct. 21 with key regulators in New York to formulate proposals under which the industry could look to tap the federal government's $700bn Troubled Asset Relief Program.
Everest Re Q3 operating income plunges
Everest Re, the Bermudian (re)insurer, said that third quarter operating income fell to $12.6m, compared to operating income of $232.5m in the third quarter of 2007. For the nine months ended September 30, 2008, operating income nearly halved to $383.2m…
Hannover Re issues FY profit warning
Hannover Re, the German reinsurance giant, has said that the sharp fall in equity prices and the "above-average burden" of catastrophe losses has meant the full year profit estimates for 2008 are now no longer attainable.
Pru CEO Tucker says it is monitoring AIG situtation closely
The group chief executive of Prudential has admitted that the insurance group is monitoring AIG disposal programme.
Chaucer estimates $55m loss from hurricanes
Lloyd's insurer Chaucer has announced its early assessment of the effect of Hurricanes Gustav and Ike. The preliminary estimate for the cost (net of reinsurance and reinstatement premiums) of these two events is approximately US$55m.
Lloyd's unveils Ike and Gustav loss projections
Lloyd’s, the world’s leading specialist insurance market, announced today its provisional loss estimate for Hurricanes Gustav and Ike.
Endurance to report third quarter operating loss
Bermudian (re)insurer Endurance Specialty Holdings said that it expects to report a third quarter operating loss in the range of $0.96 – $1.15 per share, thanks to difficult investment conditions and losses from Hurricanes Gustav and Ike.
Synergy launches into high-end premiums
Synergy Insurance Services has officially launched into the high-net worth market with Synergy Private Clients, the company announced today.
AA director admits surprise as household premiums fall
The latest benchmark AA British insurance premium index of home insurance premiums recorded quarterly rise in the average quoted premium for an annual buildings insurance policy, which now stands at £213.32, about £3 or 1.8 per cent higher than the…
Motor premiums up 7.6% in 12 months claims survey
The latest figures from the AA’s benchmark British insurance premium index show UK average premium quoted for an annual comprehensive insurance policy rose 3.1 per cent or £22 over the past quarter, a similar rise to the previous three months. Over the…