News
IUA elects new chairman
The International Underwriting Association has elected Stephen Riley as its new chairman.
Alea US specialty sale completes
Bermudian (re)insurer in run-off, Alea Group has announced that its subsidiary, Alea North America Insurance Company, has completed sale of its Delaware excess and surplus lines carrier, Alea North America Specialty Insurance. Company to Insurance…
SSP starts trading on AIM
Broker software house SSP started trading on the Alternative Investment Market this morning with a capitalisation of around £70m and a placing price of 98p per share.
High profile investors in £100m insurance buy-out
An investor group, led by Jonathan Marland [and including financier Michael Spencer, fund manager Crispin Odey and Carphone Warehouse Co-Founder David Ross] has recently exchanged contracts on the purchase of the right to manage Insurance Capital…
IRM delegates wary of Enron repeat
In a vote at the Institute of Risk Management's (IRM) annual risk forum, 94% of the 350 attendees sa...
Catlin claims record results at half-year mark as new US offices open
Catlin Group has announced what it described as "record" net income for the six months ended 30 June...
Aon Re poach Fac boss from Benfield
Aon Re Global has appointed Elliot Richardson as head of its global cedent facultative reinsurance a...
Make sure you're near the exit when he blows!
Mark Geoghegan finds a kindred bear-ish spirit - and says hello to the soft market of 2007 and beyond
Spitzer drops Greenberg charges
New York attorney general Eliot Spitzer has dropped several civil charges against former American In...
Munich Re the first foreign reinsurer to win Malaysian ReTakaful licence
Munich Re has become the first foreign reinsurer to be granted a composite license to conduct ReTaka...
Windsor to de-list
Executive directors of Lloyd's broker Windsor have said they are considering making a formal approac...
Mixed fortunes for Max Re Capital
Max Re Capital (MXRE) has announced that its subsidiary, Max Re, has increased its product offerings...
Benfield claims benefits from increased investment
Benfield has announced that it made a profit before tax of £97.8m for the first half of 2006, up on ...
London Market launches electronic claims file repository for Lloyds
The London Market has taken a significant step toward reforming its claims processes by making a ele...
Hiscox focuses on Bermuda move
Hiscox unveiled a new Bermuda-oriented path for itself. The company has announced that in order to t...
Oxygen enters reinsurance market
Oxygen Insurance Brokers has announced the launch of Oxygen Re. Oxygen Re will cater for all types ...
Reinsurers' financial strength at five-year low
Financial strength in the global reinsurance sector has declined over the past five years to the poi...
Platinum ups loan facility by $200m
Bermudian reinsurer Platinum Underwriters Holdings has announced that it has replaced an existing $2...
Swiss Re-GEIS cull to lose 2000 jobs
World number-one reinsurer Swiss Re has announced a programme of up to 2000 job cuts worldwide by th...
Willumstad elected as AIG chairman
American International Group (AIG) has announced that its board of directors has elected Robert B Wi...
Unreliable modelling and aggregation could impact London Market
London Market insurers are confident that they will deliver strong returns in 2006. However, today's...
Quanta appoints new CEO; outlines plans for Lloyd's and run-off
Troubled Bermuda and Lloyd's (re)insurer Quanta Capital Holdings has named Peter Johnson to be its n...
RI3K brings in new trading system
RI3K has announced a new version of its trading system. Named 'V3', the new system will be rolled ou...
Wellington launches US marine reinsurer
Wellington Underwriting Inc, the US underwriting arm of Wellington Underwriting, has launched a mari...