News
AIG sells subsidiary
AIG's German marine (re)insurer Württembergische and Badische Versicherungs-AG (WÜBA), said that it has sold its subsidiary Deutsche Versicherungs Ruck to hedge fund Augur Financial Opportunity for an undisclosed sum.
Willis hires new head of continental Europe business
(Bestwire) Willis Group Holdings Ltd. has named Adam Garrard as the chief executive officer of its European continental business.
US health insurer Cigna cuts over 1000 jobs
US health insurer Cigna Corp. is cutting about 1100 jobs worldwide, or about 4% of its work force, and consolidating some office locations. It expects to record between $30-40m in fourth-quarter cost-reduction charges, after-tax. (Bestwire)
Former Marsh MD joins rival Aon
Aon has appointed Claire Hodgson to act as an exclusive consultant to its financial institutions team.
THB and CNA in new joint venture
THB Professional and Financial Risks has announced the launch of its new Delegated Underwriting Authority (DUA) for Professional Indemnity Insurance with CNA Insurance Company Europe Limited.
Colemont gets reinsurance broking license in Argentina
Colemont, the international wholesale insurance broker, said that it has been granted a license by the Superintendencia de Seguros de la Nación to operate as a reinsurance broker in Argentina.
Reinsurer shift towards Europe from Bermuda predicted
Bermuda may continue to lose its favour amongst its domestic reinsurance companies in 2009, business advisory consultant Smart has said.
Catlin Canada raids GCAN for new chief underwriting officer
Catlin Canada, a subsidiary of Lloyd's (re)insurer Catlin, has brought in David Huebel, the former president and chief executive of Canadian insurer GCAN to be its chief underwriting officer.
Salmonella insurance scheme launched
Noble Foods is to launch a new scheme to provide egg producers with free of charge salmonella insurance from 1 January 2009. Noble Foods' cover will be available to all producers subject to them testing as currently "salmonella free" and successful…
Beat That Quote grows motor panel
PRICE comparison site Beat That Quote has added five new insurers to its motor panel.
Noble Foods introduces salmonella scheme
Noble Foods has launched an innovative new scheme to provide egg producers with free of charge salmonella insurance from 1 January 2009.
Hub makes another acquisition
Hub International Limited (Hub) announced today that it has acquired the assets of Colorado-based employee benefits broker and consultant Gemini Group for an undisclosed sum.
Pricing for 1 July renewals expected to remain firm - Aon Benfield
Global reinsurance prices firmed for January 1, 2009 renewals and are expected to remain firm at the April through July 2009 renewals, research from Aon Benfield said.
Bluefin launches
Axa-owned broker Venture Preference has launched its new brand Bluefin today.
Law firm opens in Lloyd’s of London
Regional law firm Furley Page will open a London office in the Lloyd's of London building.
PartnerRe US head retires
Scott Moore, president and CEO of PartnerRe U.S., is to stand down, the company said in a statement. He will be replaced by Tad Walker, chief underwriting officer of PartnerRe U.S., succeeds Mr. Moore as the operation's president and CEO. Mr Moore will…
Lloyd's gets Guernsey licence
Lloyd's, the world's leading specialist insurer, has obtained a licence to write direct general insurance business in Guernsey.
Global insurance M&A activity expected to rise
(BESTWIRE) - Global merger and acquisition activities in the insurance sector reached $108bn in 2008, down 17% from the previous year, according to global deal tracking firm Dealogic.
MMC names head of new agency
(BESTWIRE) Marsh & McLennan Cos. has named industry veteran David Eslick to be chairman of Marsh & McLennan Agency LLC, its new unit targeting small and midsize businesses around the United States.
Managing agency approved by Lloyd's
A new managing agency formed to manage the Sportscover syndicate, 3334 SCS has been approved by the Financial Services Authority and Lloyd's.
Earthquakes strike Indonesia
A series of strong earthquakes shook the West Papua province of Indonesia over the past weekend, catastrophe business AIR Worldwide has reported.
Ironshore snags AIG heavyweights for new environmental division
Ironshore has snagged environmental insurance industry heavyweights Joe Boren and John O'Brien from AIG to start its new environmental insurance business.
Hardy increases underwriting capacity for Syndicate 382
Hardy Underwriting Bermuda Limited (LSE: HDU), the specialist Lloyd's insurer/reinsurer, today announces that the underwriting capacity of syndicate 382 for 2009 has been increased from £185m to £250m.
AIG Environmental names new boss
AIG has named Russell Johnston president and chief executive officer of AIG's pollution liability insurer AIG Environmental, a unit of AIG Commercial Insurance.