News
Hiscox plans sidecar reinsurer
Hiscox announced today that in order to take advantage of expected underwriting conditions, Hiscox Syndicate 33, which it manages and in which it has a 72.5% participation, is in discussions which could lead to the creation of a new reinsurer which will…
Ernesto makes landfall on Carolinas
Tropical Storm Ernesto has made landfall on the North Carolina coast, bringing heavy rains and winds just below hurricane strength to the area.
Swinton commercial completes software deal
Swinton Business, the commercial broking division of Swinton Group has selected the Acturis Broking Platform after a competitive tender process
Zurich promotes LaGrassa for reinsurance role
Zurich North America has promoted John LaGrassa to senior vice president and director of ceded reinsurance.
Spectrum makes in-house legal appointment
Spectrum Syndicate Management has appointed Mark Everest as the company’s chief legal counsel.
US P&C market shows marked improvement, claims Swiss Re
The US property and casualty (P&C) insurance industry's underwriting performance in its first quarte...
AM Best plan to give sidecar ratings a 'haircut'
AM Best has said that in the future, it will be looking more closely at the true financial benefit t...
Tokyo gears up for IUMI marine insurance meeting
Statistics to be presented to the world's marine insurers this month in Tokyo will show that both hu...
Lebanese situation puts Arab Re under review
AM Best has put the financial-strength rating of B+ (very good) and the issuer credit rating (ICR) o...
Typhoon Saomai slams into China
Typhoon Saomai hit China on 10 August 2006, killing at least 100 people and causing widespread devas...
Converium backed by $250m LOC
European reinsurer Converium has announced that it has secured a $250m letter-of-credit (LOC) facili...
Lloyd's launches cat-bond vehicle
Lloyd's of London has confirmed that it has set up a special-purpose vehicle (SPV) to help its membe...
Quanta auditors quit as ineffective financial controls are unveiled
Troubled Bermudian (re)insurer Quanta Capital Holdings has parted company with its accountants and h...
Florida plans under-writing pool to boost reinsurers' confidence
Florida governor Jeb Bush is considering a state-run reinsurance or joint underwriting pool to help ...
Glacier Re wins rating affirmation with $30m capital
Swiss-based reinsurer Glacier Re has announced it has secured $30m in new capital from its existing ...
RenRe to settle with SEC
Renaissance Re has submitted an offer of settlement to the Securities and Exchange Commission (SEC) ...
Aeolus breezes in to Bermuda
A new reinsurance company is springing up on Bermuda with the launch of Aeolus Re. New parent compa...
PXRE loses 82% of 1/1 business; expenses mount, run-off looms
Troubled Bermudian property/catastrophe reinsurer PXRE has announced that it has lost 82% of the bus...
Risk appetite is coming back because the price is right
Some pretty impressive first-half results have left Mark Geoghegan wondering if the hard US catastrophe market can last for very much longer if no major losses occur in the second half of the year
'Weatherproof' Hannover Re exceeds H1 targets
Global reinsurer Hannover Re posted strong first-half results, growing gross premiums by 12.8% and p...
Folksamerica affirmed after sidecar probe
AM Best has affirmed its ratings of White Mountains' US reinsurance subsidiary, Folksamerica Re, aft...
New insurance facility established in Istanbul
The Istanbul Underwriting Centre (IUC) was established earlier this year and began operating in Marc...
Sale of Scottish Re on the table
Troubled life reinsurer Scottish Re has highlighted the possibility of an outright sale of the compa...
Fraud: government plans in the spotlight
The government’s plans to tackle insurance fraud, the views of internal insurance industry fraudsters, and the industry’s own insights and initiatives to tackle this perennial problem will be three of the highlights at this year’s Post Magazine Fraud…