News
Allianz invests $2.5bn in The Hartford
European insurance giant Allianz has invested $2.5bn in US insurer The Hartford Financial Services Group.
B&B bailout could sink brokers says IIB
The Bradford and Bingley bailout could threaten brokers’ livelihoods, according to Barbara Bradshaw, chief executive officer of the Institute of Insurance Brokers.
Fitch warns of tough times for credit insurers
Fitch Ratings is “remaining cautious” on the credit insurance industry, amid concerns that banking turmoil could lead to rising corporate bankruptcies, in turn affecting credit insurers' underwriting performance.
Countrywide strengthens insurer partnerships with new recruit
Countrywide has appointed Tim Rogers to the role of insurer relations director to further strengthen the network’s insurer partnerships.
Quinn signs up to aggregator
BeatThatQuote.com is to partner with Quinn Direct in Ireland in order to extend its motor insurance offering.
Xchanging buys India's Cambridge Solutions for £83m
Xchanging, the outsourcing company, has bought 75% of Indian outsourcing and IT company Cambridge Solutions for £83m in a cash and shares deal.
Provident unveils new MD
James Reader has been appointed managing director of Provident Insurance with immediate effect.
Munich Re estimates $500m of pretax losses from Gustav and Ike
Munich Re, the Germany-based reinsurance giant, said that it is expecting $500m of pretax losses from hurricanes Gustav and Ike.
Fitch to withdraw Swiss Re rating over disclosure issues
Fitch Ratings has withdrawn its ratings on Swiss Re and its subsidiaries.
Lloyd's insurer to seek listing on the LSE
Lloyd's insurer Lancashire has announced plans to list next year.
Edwards Angell Palmer & Dodge opens Hong Kong office
Law firm Edwards Angell Palmer & Dodge has opened a Hong Kong office by entering into an association with Hong Kong law firm Lister Swartz effective 1 October.
AM Best: AIG still under review with negative implications
All financial strength ratings, issuer credit ratings and debt ratings are unchanged and remain under review with negative implications for AIG and its subsidiaries, according to AM Best.
AM Best says AIG credit ratings unchanged
US ratings agency A.M. Best has said that all of AIG's financial strength ratings, issuer credit ratings and debt ratings are unchanged and remain under review with negative implications after the company outlined its future strategy on Friday.
Ace declares net after-tax Q3 losses
ACE Limited, the Switzerland-domiciled (re)insurer, said that announced today that estimated net after-tax losses in the third quarter for the Ace Group of Companies from catastrophes, including Hurricanes Gustav and Ike, will amount to approximately …
Liddy: There will be "no erosion" in AIG's pricing and underwriting to win business
AIG chief executive Edward Liddy has hit back at suggestions the insurer is pricing business cheaply to retain it given its recent difficulties.
Liddy admits AIG has slipped eight points on D&O
AIG chief executive Edward Liddy has outlined how the insurer is fighting to keep corporate customers so that it can "fight another day"
AIG's Liddy: we will favour 'brand name' buyers for assets
AIG chief executive Edward Liddy has told an investors conference that it will favour "brand names" in selling its businesses.
THB to fund further acquisitions with £7.5m investment
Broker THB has raised £7.5m through an agreement with investors to subscribe for 2 750 000 new ordinary shares at a price of 70p per share.
Trio quit Liberty Syndicates for Pembroke
Liberty Syndicates has lost a team of three headed by divisional underwriter Quentin Prebble, Reinsurance has learnt.
Harborpoint given UK licence
Harborpoint, the Bermuda-based (re)insurer, has been given its long-awaited UK licence, Reinsurance has learned.
AIG to retain P&C businesses
AIG has said that it plans to retain its US property and casualty and foreign general insurance businesses, and to retain a continuing ownership interest in its foreign life insurance operations.
Underwriting agency targets regions
Commercial insurance underwriting agency APC has launched the next phase of its development to expand its regional presence across England and into Northern Ireland and Wales, the company announced today.
AIG to sell US life insurance units - report
AIG, the stricken US insurer, is to sell its US life insurance business, according to press reports.
Aon Re Global makes appointment
Aon Re Global has appointed Jon Steed to its Aviation Consultancy and Reinsurance Services.