News
Aon places three on leave of absence pending illegal payment investigation
Aon has placed three employees in its aviation team on a leave of absence pending an investigation t...
Growth in demand for captive ratings says AM Best
AM Best has reported a growing interest in financial strength ratings for captives and other alterna...
Spiller appointed chairman at Heritage Underwriting
The board of Heritage Managing Agency, a member of Argo Group, has appointed David Spiller as its ne...
Flagstone Re restructures operations
Flagstone Re plans to restructure its global reinsurance operations by merging its two wholly owned ...
Candidates voice Act opinions
Unusually for an insurance issue, both presidential candidates have voiced opinions on the Homeowner...
Scor purchases Prevoyance Re in France for EUR73m
Scor, the French (re)insurer, said it has bought French (re)insurer Prevoyance et Reassurance and it...
XL comes to a deal with SCA
Bermudian (re)insurer XL Capital has come to an agreement with bond insurer Security Capital Assuran...
MMC to cut 900 jobs as profit falls
Marsh and McLennan, the owner of brokers Marsh and Guy Carpenter, said it will lay off 900 employees...
Carvill in 'exploratory talks' with Stone Point over stake sale
Insurance broker Carvill is in the process of selling a stake in its business to US private equity h...
First half results have reinsurers feeling gloomy
Falling (re)insurance prices, subprime writeoffs and lower investment income all contributed to a di...
Hurricane Gustav closes in on New Orleans
Hurricane Gustav, which is closing in on the coast of Louisiana, could produce a storm surge of between 13 and 18ft if it gets to a Category 4 hurricane as forecast, and may overtop some floodwalls and levees in New Orleans if it were to hit the city,…
Fairfax buyout of Advent looms after company says has 58% of shares
North American financial services company Fairfax has declared their offer unconditional for Lloyd's (re)insurer Advent after receiving an extra 14% of acceptances which put them over the 50% threshold.
Stovin replaces Albanese as president of Markel International
Markel has said that William Stovin will replace Gerry Albanese as president and chief operating officer of Markel International.
Zoom latest airline to go bust: The insurance implications
As another long-distance budget airline goes bust this week, Katherine Brandon, reporter at Professional Broking , the management magazine for insurance brokers, looks at the possible insurance implications of cancelled flights as airlines suffer.
MMC forbidden from poaching Benfield brokers
MMC has been barred from approaching Benfield staff after it failed to buy Benfield last week, sources have told Reinsurance.
Zoom latest airline to go bust
As another long-distance budget airline goes bust this week, Katherine Brandon, reporter Professional Broking , looks at the possible insurance implications of cancelled flights as airlines suffer.
Hardy not part of takeover talks - CEO
Although there has been a speight of recent takeovers of Lloyd’s (re)insurers by Bermudian companies, Hardy hasn’t been part of any talks, chief executive Barbara Merry said in an interview.
MMA appoints head of business development team
Intermediary only insurer, MMA Insurance has appointed Dan Andrews as head of business development.
Groupama CEO dismisses commercial rate rise talk as hot air
The chief executive of Groupama has criticised the market for talking up commercial rates rises but doing nothing about it. François-Xavier Boisseau's comments came as Groupama Insurances reported a UK post tax profit of £15.0m to the end of Q2 2008 …
Insurantz launches commercial vehicles cover
Insurantz.com, the online small business insurance provider has added ‘Business Vans’ commercial vehicles cover to its suite of products aimed at the UK’s 4.5 million small business owners.
Cassidy Davies secures Millenium MPPI deal
LLoyd's insurer Cassidy Davis has secured a deal to underwrite a scheme portfolio of mortgage payment protection insurance for Millennium Insurance Brokers.
Allianz to sell Dresdner this weekend
According to the Financial Times , German insurer Allianz is set to sell its bank Dresdner for about €9bn ($13bn) to Commerzbank.
Hardy poised for growth when market turns
Hardy Underwriting Bermuda has reported a rise in gross written premium to £97.0m (H1 2007: £88.8m) in the first half of 2008.
Gustav forecast for oil disruption
The Gulf of Mexico is standby for tropical storm Gustav after news that the storm might intesify to a major hurricane before hitting its oil fields.