News
Aon and Florida compensation deal
The Florida authorities have reached a settlement with Aon relating to undisclosed compensation in c...
AM Best: Vacant houses may cause fraud worries
The next big hurricane to hit the US mainland may cross a landscape with an unusually high number of...
XLCA says exposure to Alabama's Jefferson County is $810m
SCA, a subsidiary of XL's 46%-owned financial reinsurer XL Capital Assurance (XLCA) said its exposur...
Allied World launches two US specialist units
Bermudian (re)insurer Allied World Assurance Company has launched two specialist units in the US - A...
Busy month for capital market convergence
May was a busy month for the reinsurance world's venture into the capital markets. As revealed by R...
Citizens cover attracts big hedge fund support
Citizens, the Florida state-owned insurer of last resort, is to see a 1 June $440m reinsurance place...
China losses may exceed $20bn
Catastrophe risk modeling firm Air Worldwide estimates that total losses to insured and uninsured pr...
No widespread US downgrades
Moody's has said that there won't be widespread downgrades of US life and property and casualty insu...
S&P says soft cycle may lead to negative outlooks
Ratings agency Standard and Poors has warned that deterioration in premium rates and terms and condi...
Obama backs Fed Cat scheme as exposure mushrooms
US presidential candidate Barack Obama has come out in support of a national catastrophe fund. "I t...
Sub-prime claims within expectations
Lloyd's chairman Lord Levene reiterated that that claims emerging from the US sub-prime mortgage dis...
Vote of confidence for AIG's Sullivan
AIG's board has given chief executive Martin Sullivan a vote of confidence despite a first quarter l...
Bermudians still looking to London
Bermudian (re)insurers are still looking to the London market for platforms, Reinsurance has discove...
Davies Lavery boosts insurance team
Defendant insurance law firm Davies Lavery has promoted Samantha Silver to associate, working within the insurance and reinsurance team.
Cooper Gay completes Heath Lambert acquisitions
Global broker Cooper Gay has acquired the aerospace, reinsurance and UK wholesale divisions of Heath Lambert. It has also purchased elements of Heath Lambert’s global business solutions unit.
Customers compare policies on more than price, says aggregator
Some 45% of motor insurance customers pick policies on factors other than price, according to comparison site comparethemarket.com.
Iceland eathquake causes little structural damage
Yesterday's earthquake in Iceland caused little structural damage according to RMS.
Fitch supports phase II of insurance contracts standard
Fitch Ratings has said phase II of the insurance contracts standard proposed by the International Accounting Standards Board represents a good opportunity to bring greater comparability and increased disclosure to the insurance industry.
3XD launches policy for landlords
3XD has introduced a flexible household insurance for private landlords.
Florida Gov. Crist signs bill to freeze Citizens' rates through 2009
Florida Gov. Charlie Crist has signed a comprehensive insurance reform bill that will freeze rates for Citizens Property Insurance Corp. through 2009 but a plan to use $250 million of the state-run insurers' surplus to fund a capital incentive program…
Arista appoints new underwriter in South West
Arista Insurance has appointed Dan Mewse to provide localised underwriting support to its brokers in Cornwall and Devon.
Hannover in highly leveraged Florida Cat sidecar deal
Hannover Re has sponsored Globe Re, a 1-year sidecar to write a portfolio of US property Cat retrocession. Globe Re will be highly leveraged, capitalised with only $33m of equity and $100m of debt securities.
Crawford strengthens its global account management team
Crawford and Company has appointed Michael La-Band as a new member of its global account management team based at its Lloyd’s of London office.
Another company pulls out of RBSI bidding
Chinese insurance company Ping An has become the latest name to withdraw itself from the bidding for Royal Bank of Scotland Insurance, according to reports.