News
Le Beau awarded MBE
Peter Le Beau, director of Le Beau Visage and co-founder of the Income Protection (IP) Task Force, bas been awarded an MBE in this year's Birthday Honours.
Wall Street analysts continue to be negative on Validus takeover of IPC
Wall Street analysts have continued to be negative on Bermudian (re)insurer Validus' takeover of island rival IPC Holdings.
Validus shares fall following IPC decision
Shares in Validus, the Bermudian (re)insurer locked in a takeover battle with Max Capital for island rival IPC Holdings, were off nearly 4% in New York following a decision by IPC shareholders to turn down a merger with Max.
Max Capital writes to shareholders explaining IPC loss
Max Capital has written a letter to shareholders after IPC shareholders voted against the merger between the two Bermudian (re)insurers.
Max Capital in line for $50m after ending merger agreement with IPC
Max Capital, the Bermudian (re)insurer said it has terminated its merger agreement with IPC Holdings after IPC shareholders voted against the amalgamation of the two companies.
Welcome to the new Reinsurance web service
Reinsurance Magazine has teamed up with its sister title Post Magazine to create an all new site with a dedicated area on reinsurance, dedicated RSS feeds and mobile alerts, related jobs and an enhanced search.
Brit finally concedes interest in Lloyd's insurer Chaucer
Lloyd's insurer Brit has finally admitted it is talks with rival Chaucer after months of speculation .
Stooke to leave Catlin
Chris Stooke is to step down from his role as chief financial officer at Catlin Group to pursue "new challenges".
Fitch downgrades four Japanese non-life insurers
Fitch has downgraded a swathe of Japanese non-life insurers.
Major European account to stay with Aon Benfield - sources
European insurance giant Eureko has renewed its major reinsurance account with Aon-Benfield, Reinsurance understands, in a deal understood to be worth up to €3.5m in revenue to the broker.
AM Best downgrades Puerto Rican reinsurer
US ratings agency AM Best downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit rating to "bbb-" from "bbb" of Puerto Rican life reinsurer Popular Life Re. The outlook for both ratings is stable.
Mutual chair writes to MP after Court of Appeal ruling
Incoming Communities and Local Government Secretary John Denham has received is a letter from London Authorities Mutual chairman Nathan Elvery calling for legislation to clarify the wellbeing powers. It follows the ruling this week in the Court of Appeal…
Broking arm offers service to demystify complex risks
Engineering risk consultancy Specialists in the Protection of Risks has launched a range of new services for brokers, insurers and reinsurers to help improve their understanding of complex exposures.
Garwyn heralds its fixed fee motor claims service
Garwyn plans to expand its claims management unit, adding resource to its motor claims activity.
Marsh reacts to WHO pandemic decision
Following yesterday's decision by the World Health Organization to raise its H1N1 influenza pandemic alert to Phase 6, its highest level, Marsh has recommended that all organisations continue to focus on potential economic and jurisdictional issues in…
International broker boosts aviation division with two senior hires
International broker United Insurance Brokers has strengthened its aviation division with two appointments who have between them 75 years of market expertise.
Ferma elects new president
Peter den Dekker, corporate insurance risk manager at Dutch multi-national Stork, has been elected President of the Federation of European Risk Management Associations. He took over from Marie-Gemma Dequae, whose mandate came to an end after four years…
Chubb launches metal industry product
Chubb Insurance has launched a new product to help protect precision engineers, metal fabricators and processors.
Allianz calls on solicitors to be proactive on risk management
Allianz has urged solicitors to take a proactive approach to risk management in the face of increasing professional indemnity exposures.
AIU says raised $500m from Transatlantic share sale
AIU Holdings has said it has raised $500m from the sale of its share in US reinsurer Transatlantic Re.
Fitch downbeat over US P&C sector
The US property/casualty insurance market experienced a sharp decline in performance in 2008 and faces significant challenges in 2009, Fitch says.
Axa Insurance cuts 560 roles after "cleansing" UK business
Axa Insurance is to streamline its operating model in a move which it claims will result in the loss of around 560 roles over the next few months, of which no more than half will be redundancies in the UK.
Allianz secures Lloyds TSB commercial business deal
Allianz Commercial has secured a multiyear partnership with Lloyds Banking Group to provide insurance solutions to Lloyds TSB (LTSB) and Bank of Scotland's (BOS) 850 000 small business customers.
IPC battle: Validus hits back
Validus Holdings has hit out at comments by Max Capital yesterday and insiste its exchange offer for IPC can close by the end of June.