News
Cousins to head up new Aon Re Global Fac unit
Aon Re Global Fac, the facultative reinsurance arm of Aon Re Global has launched an alternative solutions unit to provide access to non-standard facultative reinsurance products across ARGF's portfolio. It will be headed up by Paul Cousins.
Jubilee hires new director of underwriting
Jubilee Managing Agency, the specialist Lloyd’s insurer, said it has appointed Andreas Loucaides, the former chief executive of Catlin UK, as director of underwriting to expand its portfolio and diversify its product and business class offerings.
Our Network confirms broker panel
Our Network has announced the formation of its broker advisory panel and those who will sit on it.
Knowles launches new lettings risks company
Former market director for general insurance at the Chartered Insurance Institute, Peter Knowles, has launched a new company aimed at the lettings market.
AIG has already drawn down two-thirds of loan
(BESTWIRE) Stricken insurer American International Group has drawn down, within a month, two-thirds of the $122.8bn in federal loans made available to keep the giant insurer afloat, said the company and the Federal Reserve.
Swiss Re in weather derivative contract with World Bank
Swiss Re announced that it has entered into a weather derivative contract with the International Development Association (IDA), the arm of the World Bank that helps the world’s poorest countries.
Airmic warned that credit crunch is "breeding ground for fraud"
Association of Insurance and Risk Managers members have been warned to be on their guard against employers' liability claims.
Amlin: Hurricane Ike losses higher than original estimates
Amlin expects the market insured loss for Hurricane Ike will be in excess of $16bn, higher than modelling agents' current estimates. This is due to the far reaching impact of the storm both on offshore energy installations and on the mainland.
Swiss Re set to take on underwriting of RBSI
Swiss Re is reported to have teamed up with venture capital firm CVC to bid for Royal Bank of Scotland Insurance.
Prudential said to be looking at AIG's Asian Business
Prudential, the UK insurer, is reported to be in talks with two strategic investors to take a 20% stake in the company and help the company mount a $15bn (£8.6 bn) bid for AIG's Asian business.
Swiss Re said to be joining CVC in joint bid for Direct Line
Swiss Re is said to be joining CVC in a joint bid for Royal Bank of Scotland's insurance arm.
Flagstone Re to buy Marlborough Underwriting
Flagstone Re, the Bermudian (re)insurer has confirmed it has entered into an agreement to acquire Marlborough Underwriting Agency, the managing agency for Lloyd's Syndicate 1861 - a Lloyd's syndicate underwriting a specialist portfolio of short tail…
Zurich UK set to redomicile
Zurich UK has become the latest company to make the decision to redomicile in the Republic of Ireland in a move the insurer says will create greater efficiencies throughout the group, Post's sister publication Insurance Age has learnt.
Willis chief applauds Dinallo's call for contract certainty
Joe Plumeri, chairman and chief executive officer of Willis Group Holdings, has applauded the efforts of Eric Dinallo, the Superintendent of Insurance for New York State, to bring contract certainty to the insurance industry in New York.
ABI: we will not be complacent but the insurance industry remains strong
The Association of British Insurers has insisted that the UK insurance industry remains stronger than during previous times of market turbulance.
RSA opens renewable energy hubs
RSA has expanded its global renewable energy division with the launch three centres of excellence that will be based in UK, Canada and Denmark.
Senior property underwriter resigns from Ascot
Mark Donald, senior property underwriter and a director at Ascot, has resigned from his post, Reinsurance has learnt.
AIG cancels $8m worth of junkets to appease New York attorney general
Following a meeting with the New York State attorney general Andrew Cuomo, AIG chief executive officer and chairman Edward Liddy has agreed to take several significant actions with respect to expenditures at AIG.
AIG acting CFO Bensinger leaves
AIG has said that acting chief financial officer Steven Bensinger has resigned, with David Herzog taking his place in the permanent role.
Cooper Gay in line for "one or two" acquisitions
Cooper Gay will complete up to two acquisitions before the end of 2008, according to the company's chief executive officer, Toby Esser.
BGL unveils new insurance partner
As part of a review of suppliers for core add-on products and services, the BGL Group has selected Minster Law to provide Family Legal Protection.
Marsh warns on supply chain risks
Financial instability and deteriorating economic conditions in the UK are prompting companies to improve efficiency and drive down operating costs in their supply chains. However, these will increase risk exposures warns Marsh.
Catlin CEO reflects on market turning events as it reveals hurricane losses
Catlin Group has outlined its initial estimate of the financial impact of Hurricanes Ike and Gustav.
Allianz Retail appoints directors from Lehmans and RSA
Allianz Retail has appointed Adrian Mitri as director of operations and Tom Moss as director of underwriting.