News
Cat bonds hold steady amid market turbulence - Guy Carpenter
Catastrophe bonds withstood the impact of onerous market forces in 2008, brought on by turmoil in the global capital markets, according to a new briefing on catastrophe bond market activity published by reinsurance broker Guy Carpenter & Company and GC…
RSA plans €70m swoop for insurer
RSA this morning announced plans to acquire the remaining 50% of its joint venture in Central & Eastern Europe.
CNA looks to Swiss Re for casualty manager
CNA Insurance has appointed Mark Figes as casualty manager. In his new role he will be charged with responsibility for the management and development of CNA Europe's casualty portfolio, with particular emphasis on expansion in continental Europe and the…
Sentencing for former Gen Re CFO moved to 2 April
(BestWire) - With two of her co-defendants already sentenced, the date on which Elizabeth Monrad, former chief financial officer of General Reinsurance Corp., will receive her punishment has been moved to 2 April.
Ace FY net income more than halves on investment losses
Ace,the Switzerland-domiciled (re)insurer, said that full-year net income more than halved after heavy investment losses.
Munich Re FY profit more than halves; shares off nearly 3%
Munich Re, the German (re)insurance giant, said that its full-year consolidated profiit more than halved over the course of 2008, dropping to €1,5bn from €3.9bn a year earlier.
Hastings Direct completes management buyout
The management buyout from parent IAG of Hastings Direct, Advantage and its associated brands has received regulatory approval.
Insurer sets up inhouse fraud team and joins IFB
Motor insurer Zenith Insurance has established a specialist in-house fraud and investigations team to crack down on motor fraud.
Pick of the week
Post reporter Louise Meeson rounds up the top stories from the general insurance sector. This week: L...
Torus to offer $50m of casualty capacity
Torus Insurance, the Bermuda-domiciled insurer, has said that it is offering up to $50m excess liability capacity which can be accessed through its new Bermuda office.
Hannover Re bullish about 2009 prospects
Hannover Re gave a boost to the (re)insurance industry on Tuesday when it said that it expected to see group earned premiums rise by 17% over the course of 2009.
Ironshore ratings put under review with negative implications
Ironshore, the Bermudian insurer, has seen its financial strength and issuer credit ratings put under review with negative implications by AM Best.
Gorman reunites with Burley at loss adjusting start up
Owen Gorman has joined Delta Claims Services as a director. He was previously a director at AMG and co-founder of Sigma Claims Solutions, and is the first senior person to join the company since it was created in November 2008.
Bluefin expands in Cumbria
Bluefin Insurance Services has made its first post-rebrand acquisition with the purchase of Lakeland Insurance Services.
AIG sues CV Starr
AIG is suing CV Starr, the company of former architect Maurice "Hank" Greenberg in an effort to get a block of stock returned, according to Reuters.
PartnerRe FY net income heavily down; outlook positive
PartnerRe, the Bermuda-based reinsurer, reported full-year net income of $46.6m, significantly down from net income in 2007 of $717m.
Markel reports FY $403m net loss
Markel, the US-based (re)insurer, reported a net loss of over $403m for 2008, down from a $337m gain for the 2007 full-year.
Axis Capital grabs senior Chubb exec to lead new division
AXIS Capital, the Bermudian (re)insurer, said that it is to form an accident & health division. Christopher DiSipio, will lead the division.
Jelf's margin hit by wealth management arm loss
Jelf has reported revenue increased by 59% to £63.1m (2007: £39.7m) for the year ended 30 September, driven principally by strategic acquisitions.
Hardy says FY results will beat expectations; lowers Ike estimates
Hardy, the Lloyd's (re)insurer domiciled in Bermuda, managed to stand out from a number of its peers when it lowered its estimates from Hurricane Ike to $17.6m from $23m.
MMC makes Colombian purchase
Marsh & McLennan said it has purchased the remaining 49% stake in Colombian (re)insurance broker Companias DeLima from the company's minority partners.
Willis launches new portfolio management tool
Willis Re, the U.S. reinsurance arm of broker Willis said it has launched Willis conNext – a web-based portfolio management and risk analysis platform that empowers analysts, risk managers and corporate executives to quantify exposure, evaluate…
And it snows and it snows
As the UK is hit by the worst snow storms for a decade, Post looks outside its own office to see the impact on central London. Watch it now - and apologies for the shaky picture - well it is cold out there. Safe journeys to all our users.
And it snows and it snows
As the UK is hit by the worst snow falls for over a decade, Post looks outside its office to see the impact in Central London. Watch it now - and apologies for the shaky picture - it is cold out there.