News
Cologne Re of Dublin: Ratings withdrawn at company request
Standard & Poor's Ratings Services said today it affirmed its 'A' long-term counterparty credit and insurer financial strength ratings on Ireland-based reinsurer Cologne Re of Dublin. The ratings were subsequently withdrawn at the company's request. The…
Guy Carpenter predicts slow pacific cyclone season
Risk management and reinsurance firm Guy Carpenter has predicted a that tropical cyclone activity in the Western North Pacific will be below normal levels for the remainder of the year.
Amlin retains AM Best rating
AM Best has commented that the ratings of Amlin and its operating subsidiaries are unchanged.
Max Capital net income down $8.1m
Max Capital has reported net income of $36.4m for the first quarter, compared to net income of $44.5m for the first quarter of 2009.
Torus appoints construction underwriter
Global specialty insurer Torus has named Marina Moore as senior offshore construction underwriter.
Amlin retains AM Best rating
AM Best has commented that the ratings of Amlin and its operating subsidiaries are unchanged.
Post in print - 06 May 2010
Post news editor Mairi MacDonald provides a quick overview of this week's news, which includes, problems for the new government as it faces rehab lobby over lack of plans; Fortis and RBSI hailing the RTA portal link up success; Coverzones shutting shop…
Marsh targets Scottish financial institutions business
Marsh appoints Wendy Lamin as development executive in its financial and professional practice.
Gulf explosion: Losses mounting up
Losses from the explosion of BP's Deepwater Horizon Platform are expected to be among the largest seen by the energy insurance market.
RSA wins Tesco pet insurance deal
Tesco Bank has partnered with RSA to provide underwriting and claims management for Tesco pet insurance in the UK.
Argo Q1 revenue up but hit by heavy cat losses
Total revenue was $372.3m versus $369.5m in the year-ago quarter
Helphire spurns 'unprofitable' renewals as it cuts debt by £20m
Credit hire firm Helphire today said that it is rejecting business as it seeks to renew only accounts that are profitable going forward.
Marsh backs personal injury reforms
Organisations could potentially reduce their claims costs and motor fleet insurance premiums by adhering to the Road Traffic Act’s new personal injury claims process, which was introduced in England and Wales on 30 April, Marsh has said.
Keelan Westall to re-launch prestige broker club
The commercial property broker is to re-launch its Prestige Broker Club – a membership proposition for its top performing broker partners
Amlin set to establish Swiss reinsurer
Amlin is to establish a reinsurance company in Switzerland to provide European reinsurance buyers with Amlin`s first-class security and service delivery.
CBG unveils new brand
CBG Group has unveiled its new logo following a rebranding exercise.
Lancashire suffers Q1 profit slide
Speciality underwriter Lancashire holdings has reported net post tax profit of $8.2m (£5.4m) for the first quarter of 2010 – a fall of almost 80% on $40.7m profit of Q1 2009, partially impacted by the Deepwater Horizon incident.
XL reports 100.5% combined ratio
XL Capital's property & casualty business has reported a 100.5% (Q1 2009: 92.1%)combined ratio in the first quarter of 2010.
Amlin set to establish Swiss reinsurer
Amlin is to establish a reinsurance company in Switzerland to provide European reinsurance buyers with Amlin`s first-class security and service delivery.
XL reports 100.5% combined ratio
XL Capital's property & casualty business has reported a 100.5% (Q1 2009: 92.1%)combined ratio in the first quarter of 2010.
EC to delay Solvency II implementation to coincide with financial years
The European Commission is set to delay the implementation of the Solvency II directive by two months for accounting purposes.
Coverzones backer MMA "saddened" by its closure
MMA-backed commercial insurance aggregator Coverzones has shut up shop less than two years after it commenced trading in June 2008.
EC to delay Solvency II implementation to coincide with financial years
The European Commission is set to delay the implementation of the Solvency II directive by two months for accounting purposes.
ABI estimates £62m payout from volcanic ash disruption
The Association of British Insurers has said that the cost of volcanic ash disruption to travel insurers between the 15 – 21 April is likely to reach £62m.