News
Marsh creates global claims role
Marsh has appointed Paul O'Keefe to the newly created role of global claims leader for its global energy practice.
AM Best upgrades RSA
AM Best has upgraded the financial strength ratings (FSR) to A (excellent) from A- (excellent) and the issuer credit ratings (ICR) to "a" from "a-" of the rated UK operating subsidiaries of RSA Insurance Group.
IPC and Max Capital to merge
Bermudian (re)insuers IPC Holdings and Max Capital said they are to merge in the first big deal of the year.
Novae in Midlands regional push
Novae Insurance has appointed Bronwen Horn as development underwriter in Birmingham to spearhead its presence in the Midlands market.
Private Equity house up for sale
Candover Investments, the quoted private-equity group, has in effect been put up for sale today as it unveiled huge write-downs in its portfolio of 18 companies and cancels its dividend – according to weekend reports.
Age restriction would lead to higher insurance costs, says ABI
Customer could face higher insurance premiums if the Equalities Bill restricts the use of age in assessing risk, the ABI has warned.
Amlin hails "robust performance" as pre tax profit falls
Lloyd's insurer Amlin saw its profit before tax sink to £121.6m (2007: £445.0 million) in 2008 on gross written premiums of £1034m (£2007: £1044.7m).
Amlin FY pretax profits drop
Amlin, the Lloyd's of London (re)insurer, said that full-year pretax profits dropped to £121.6m from £445 the year earlier, hit by investment losses.
Berkshire Hathaway FY insurance operations results sink
Berkshire Hathaway's insurance operations saw underwriting profits sink, the company said on Sunday.
RSA rating unchanged after results
Standard & Poor's has confirmed the ratings and outlooks on the core operating entities of RSA(main operating entities rated A/Stable/--) are unchanged following the release of the group's 2008 results.
Mitsui raids Chubb London for new Lloyd's CEO
Mitsui Sumitomo Insurance Underwriting at Lloyd's has announced that Andrew McKee, currently senior VP and London branch manager of Chubb Insurance, has accepted the position of chief executive.
Hannover Re rates boost
Hannover Re gave a much-needed boost to the the (re)insurance industry when it said that it expected...
Berkshire Hathaway profits sink
Berkshire Hathaway's insurance operations saw underwriting profits sink. The insurance operation, w...
Guy Carpenter acquires Collins
Guy Carpenter has agreed to acquire John B Collins Associates (Collins), a privately-held company th...
AIG loses $61.7bn in fourth quarter
AIG revealed that it had lost $61.7bn in the fourth quarter of 2008 and more than $99bn for the whol...
Perfect partners
Where will the (re)insurance sector turn to next for capital? Paul Lumbis covers the recent developments in the capital markets and explains why private equity will continue to be an important ally for the industry
Mad month for Swiss Re
Reinsurance giant Swiss Re saw its ratings downgraded by all three major ratings agencies after it r...
MAX and IPC to merge
Bermudian (re)insurers IPC Holdings and Max Capital said they are to merge in the first big deal of ...
Lloyd's insurers' rights issues push
Catlin, Beazley and Hardy Underwriting moved to raise millions of pounds worth of funds last month t...
Swiss Re downgraded by AM Best
Troubled Swiss reinsurance giant Swiss Re has been downgraded by ratings agency AM Best.
BGL group appoints director to lead new acquisitions team
The BGL Group has appointed a director to lead a new team within the business, to focus on potential market acquisitions.
Admiral expects increase in pre-tax profits
Admiral Group is expected to report an increase in pre-tax profits to between £193m and £202.5m for 2008.
Hartford downgraded by S&P
Standard & Poor's has lowered its counterparty credit rating on troubled US insurer Hartford Financial Services Group.
Gen Re in $72m settlement with Ohio Attorney General
General Reinsurance Corporation (Gen Re) has agreed to pay $72 million to settle investors' claims as part of the state of Ohio's securities litigation against insurance giant AIG.