News
Appointment at Zurich Financial Services of Switzerland.
Zurich Financial Services of Switzerland has appointed a new global head of group reinsurance. Thoma...
ESG makes increased loss.
Bermuda-based ESG Re made a loss of $51.2m in 2002 on net earned premiums of $134.7m. The company...
Fast forwarding finality.
Business in run off has traditionally stumbled on for years, but industry insiders are optimistic that changing attitudes and new approaches are speeding up the process. As John Sanders explains, finality is increasingly seen as a realistic goal rather…
Swiss Re does not impress.
Moody's has translated its concern about Swiss Re's profitability into a change to negative from sta...
Insolvency law still unclear.
Firms that write both insurance and reinsurance in the UK still had, as Reinsurance went to press, n...
First-quarter 2003 catastrophe losses in the US.
First-quarter 2003 catastrophe losses will cost US property and casualty insurers a total of $1.46bn...
When minds meet.
Peter Chaffetz and Steven Schwartz consider Canada Life v Guardian and the fine line between contracts that are void and those that are ambiguous.
Hannover ratings cut.
Hannover Re pledged to defend its credit rating, possibly with capital raising, as it announced a ne...
Gulf states move to set up reinsurer.
The Gulf Co-operation Council (GCC) of the Persian Gulf could decide by the end of the year whether ...
Insurance woman of the year.
Fiona Luck (left), executive vice-president of XL Capital's group operations, has been named 2003 in...
Munich Re happy with capital.
Munich Re said it had no further plans to raise capital beyond last month's EUR3bn ($3.2bn) and £300...
Converium working with group of banks.
Swiss reinsurer Converium is working with a group of banks to set up an $800m syndicated letter of c...
A flight to quality.
The aviation industry is facing a bumpy ride as it navigates through the storm clouds, making the financial security of its (re)insurers paramount, says Andreas Peter.
Unknown may resist analysis.
The industry is keen to model terrorism risk, but such attempts to second-guess terrorists may never be very successful, says John Sanders.
Appointment at Equitas.
Scott Moser became managing director of Equitas, the Lloyd's run-off company, on 1 April, and will s...
Liable to rise.
A shake-up in aviation liability requirements in the European Union could mean more business for (re)insurers, or a move away from commercial cover, according to Nicholas Hughes and Fernando Albino.
St Paul announces Q1 results
US-based (re)insurer St Paul has announced a $181m profit for the first quarter of 2003, a 36% increa...
Scor ups its stake in IRP.
French reinsurer Scor plans to increase its stake in its Dublin-based retrocession vehicle, Irish Re...
Incisive Media acquires the Risk Waters Groups.
Reinsurance is pleased to announce that its parent company, Incisive Media, has acquired the Risk Wa...
Trenwick cuts US operation.
Trenwick Group has stopped writing reinsurance through its facility with Chubb Re, effectively putti...
Alea Group of Bermuda makes net profit.
Alea Group of Bermuda made a net profit of $55.8m in 2002, up from a loss of $22.2m a year earlier. ...
reweb - First seen on the Reinsurance website www.insurancewindow.net
- Bermuda-based reinsurer Imagine Group has ditched plans it announced in July 2002 to rename itself...
Standards help to light the way.
Creating insurance data standards may not seem that important to many firms, says Rick Gilman of Acord, but they need to take another look at what can be achieved.
Dark days.
The aviation (re)insurance market is once more up in the air, as war and terror risks remain high and international tensions rise over state aid for buyers of aviation cover, says Vic Wyman.