News
Broking group reports 182% jump in profit
Brightside Group, the insurance broking and financial services business, this morning reported profit from continuing operations increased by 182% to £6.2m (2007 £2.2m). Revenue increased by 42% to £33.2m (2007 £23.3m).
Lloyd's insurer bolsters US footprint with deal
Beazley has completed the acquisition of the entire share capital and all renewal rights of First State Management, US underwriting manager specialising in surplus lines commercial property insurance, from the Hartford Financial Services Group.
FSA proposes ban on social networking sites
The Financial Services Authority has called for a ban of social networking sites such as Twitter and Facebook for all its regulated and authorised firms.
IPC to review Validus offer
Bermudian (re)insurer IPC Holdings has said it will review the $1.68bn takeover offer from rival Validus.
Lloyd's appoints new franchise director
Lloyd's has confrimed that Tom Bolt will take over from Rolf Tolle as underwriting performance direc...
Bermuda Reinsurance composite posts monster net loss for 2008
The companies in Guy Carpenter's Bermuda reinsurance composite posted an aggregate net loss of nearl...
DeSantis slams AIG over 'betrayal'
Jake DeSantis, an executive vice-president of AIG's beleaguered financial products unit, has spoken ...
Swiss Re to cut staff levels by 10%
Swiss Re intends to reduce its current global headcount of 11, 560 by approximately 10% over the nex...
Total loses Buncefield appeal
Oil company Total has lost its High Court battle with Chevron, making it liable for more than half a...
Recruitment moves
Swiss Re chairman Peter Forstmoser, said he will resign from the board of the embattled Swiss reinsu...
Japan rates rise 5-10% after large Yen gains
Japan's reinsurance rates on 1 April rose by 5 to 10%, research from Aon Benfield has shown. Catast...
Group Re behind Advent Re quota share deal
Group Re is to be the "A-rated reinsurance subsidiary of Fairfax Financial Holdings" behind the rece...
Plumeri: cash for hours offer
Willis chief executive Joe Plumeri has offered staff cash incentives to cut their working hours in a...
Validus makes rival offer for IPC
Validus Re has offered $1.68bn for Bermudian rival IPC Holdings, the company said in a statement. I...
EU donates EUR12.5m to Caribbean facility
The European Union has donated EUR12.5m to the Caribbean Catastrophe Risk Insurance Facility. The d...
Lloyd's CFO gloomy about investment
As with a number of its reinsurance peers, Lloyd's is gloomy about the prospect of achieving any inv...
Validus makes offer for IPC Holdings
Validus Re has offered $1.68bn for Bermudian counterpart IPC Holdings, the company said in a statement.
IPC shares jump on Validus offer
Shares in Bermudian (re)insurer IPC Holdings jumped 5% on the Nasdaq on Tuesday on news that its rival Validus had offered nearly $2bn for the company.
Validus makes offer for IPC Holdings
Validus Re has offered $1.68bn for Bermudian rival IPC Holdings, the company said in a statement.
Aviva downgraded by S&P
Standard & Poor's has lowered its long-term counterparty credit rating on Aviva to 'A' from 'A+'. At the same time, it affirmed the 'AA-' long-term counterparty credit and insurer financial strength ratings on Aviva's core insurance operating…
ABI frets over G20 summit
The Association of British Insurers (ABI) has warned that the future of London as a financial centre could be decided by this week's G20 Summit.
Co-op products for small businesses
The Co-operative Insurance has launched a new range of specially designed sector-specific, flexible packaged business insurance products.
China insurance sector had 'good start' to 2009
(BESTWIRE) - The China Insurance Regulatory Commission said it believes the country's insurance sector has a secure solvency level and achieved healthy development in the first two months of this year, despite the effects of the global financial crisis.
ABI warns on G20
The future of London as a financial centre could be decided by this week's G20 Summit. The Association of British Insurers is warning that the host city has the most to lose if any overly onerous regulatory framework is agreed on Thursday.