News
Why aren't more tempted to follow Kiln's lead?
When Lloyd's (re)insurer Kiln unveiled plans for a 25% increase in capacity for the 2007 year, it was bucking the trend set by its London peers. Armed with more detailed reasoning behind the decision, Mark Geoghegan reports
Aon extends Mahoney contract
Aon has extended the personal employment contract of Dennis Mahoney, the chairman and chief executiv...
Tower Group ends PXRE contracts
Tower Group has announced that it has concluded, through commutation agreements, PXRE's participatio...
ABI to debunk compensation myth
Independent research published by the Association of British Insurers (ABI) claims to show that lega...
Best affirms Axis, waits for Charman successor plan
AM Best has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rati...
Fitch downgrades Swiss Re's ratings
Fitch Ratings has downgraded its issuer default rating (IDR) and insurer financial strength (IFS) ra...
Lloyd's climate-change debate falls short, says Ascot
A leading Lloyd's underwriter has criticised the market's opening debate on climate change for provi...
Cashman leaves Cooper Gay
Michael Cashman, the chief executive of Cooper Gay & Cashman, is leaving the company. Cooper Gay & ...
AWAC grosses $344m from IPO
Allied World Assurance Company Holdings (AWAC) has announced that Goldman Sachs, the book-running ma...
Asia hit by multiple catastrophes
At least 150 people are now known to have died in southern China from tropical storm Bilis. Torrent...
SCOR buys Revios
French reinsurer SCOR has bought up Revios for EUR605m ($771m). It plans to combine Revios with SCOR...
South Korea hit by Typhoon Ewiniar
Typhoon Ewiniar has struck western South Korea, with heavy rains and strong winds bringing substanti...
Heath pulls plug on JLT talks
Heath Lambert Group has ended talks with Jardine Lloyd Thompson (JLT). Discussions had been taking p...
Security Capital sets $500m IPO share terms
Security Capital Assurance, the credit (re)insurer being spun off from Bermudian (re)insurer XL Insu...
Lloyd's may cut Central Fund contributions early
In a letter to market chief executives, Lloyd's director of finance and risk management Luke Savage ...
Insurers converting well to IFRS, claims survey
Major global insurers have responded well to the enormous challenge in moving to International Finan...
Xchanging launches model wordings library
Xchanging has announced the launch of Model Wordings Library (MWL), anticipated to be the London Mar...
Swiss Re to cut 2000 jobs
Swiss Re has confirmed that it will reduce its global workforce by up to 2000 positions through lay-...
Heritage reports float details
The board of Heritage Underwriting Agency has officially announced its intention to float on AIM. A...
Guy Carp praises Lloyd's resilience
Guy Carpenter has praised the strength, stability, resilience and adaptability of Lloyd's in its fou...
Heath Lambert group CEO toasts independence
Heath Lambert today reported a profit before interest, taxation and amortisation (PBITA) was up 19% to £8.6m for the first six months of 2006. UK Income was up 8% year on year, despite softening markets and the loss of revenue streams through divestments…
Hitachi Capital group finance director leaves
Hitachi Capital, the MPPI and GAP underwriter, has announced that group finance director, Barbara Iversen, is to leave the group, having decided to relocate to the North of England for family reasons.
Marsh hires new southern UK regional boss
Marsh, the world’s leading risk and insurance services firm, has appointed a new southern regional sales leader to boost development in the South.
Hardy makes board appointment
The Board of Hardy Underwriting Group has announced the appointment of Richard Abbott as an independent non-executive director with effect from 1 August 2006.