News
HSBC seen as bidder for AIG's Asian insurance business
HSBC could bid for AIG’s Asian business, according to market sources.
AIG approaches Fed for $40bn loan for short-term financing - reports
AIG has approached the US Federal Reserve Bank for $40bn in short-term financing, reports have said.
Financial crisis claims another scalp
Lehman Brothers Holding (“LBHI”), the US investment bank, has announced that it intends to file a petition under Chapter 11 of the US Bankruptcy Code.
Ecclesiastical plans head office move
Ecclesiastical today confirmed it is planning to keep its head office in Gloucester by moving its 650 Gloucester-based staff to a new-build site in the Gloucester Docks development. The multi-million pound project is expected to be completed in 2011.
AIG linked with $20bn sell off
AIG is seeking to raise $10bn-$20bn (£5.6bn-£11.1bn) by selling non core assetts.
Cooper Gay acquires mining team
Insurance and reinsurance broker Cooper Gay has added a new specialist mining team to its London based energy and construction division.
Hurricane Ike may have a $3bn impact on reinsurers - KBW
Hurricane Ike may cost the reinsurance industry around $3bn, according to analysts at Keefe, Bruyette & Woods.
Flagstone Re expects $10-15bn total insured industry losses from Hurricane Ike
Bermuda-headquarted reinsurer Flagstone Re said today that their preliminary analysis estimates that total onshore insured industry losses from Hurricane Ike could range from $10-15bn.
Hurricane Ike hammers Texas Coast
Hurricane Ike has arrived on the Texas Coast, devestating the City of Galveston and threatening Houston.
Esure goes green
Esure has saved over two million sheets of paper and more than doubling its recycling in a year.
The Withers Group expands into the north
The Withers Group has opened a new office in Warrington, Lancashire, servicing insurance and construction clients from the Midlands to Scotland.
Greenberg, other directors agree $115m suit settlement
Hank Greenberg and three other directors of CV Starr have agreed to pay $115m to settle a suit from the Teachers Retirement System of Louisiana.
Ernst and Young boosts London and Bermuda insurance team
Former QBE European operations director David Lang has joined Ernst and Young as a director in the London and Bermuda insurance team.
First Assist strikes travel insurance deal with Sainsbury's
First Assist Insurance Services has signed a travel insurance partnership deal with Sainsbury’s Finance.
HCML completes rehabilitation standards
Rehabilitation provider Health and Case Management has completed its core professional case management standards.
Ike closes in on Texas coast
Hurricane Ike is closing in on the coast of Texas and may strike the upper Texas coast late Friday or early Saturday, Guy Carpenter said.
Mike India 5 snap up Brownsword
David Brownsword, who sold his controlling interest in liability and fraud operation Brownsword to Capita in 2006, has joined nationwide investigators Mike India 5 as chief executive officer.
Ike causes $200m damage in Turks and Caicos. Bahamas
(BestWire) — As the Gulf Coast watches Hurricane Ike approach, catastrophic risk modelers, Risk Management Solutions, estimates the storm has already caused up to $200m in insured loss in the Turks and Caicos Islands as well as the Bahamas.
Questgates complies with MOJ recommendations
Questgates motor division has, during trials of a new IT system, proved it is able to comply with reforms recently recommended by the Ministry of Justice.
Integro set to announce US job cuts - sources
Integro, the US and UK (re)insurance broker, is understood to be set to make a raft of job cuts in its US operations, Reinsurance has learnt. Integro's UK operations are not expected to be impacted.
Ace boosts construction team
Ace Europe has appointed Andrew Morris as UK regional construction underwriter.
Willis reveals wholesale strategy
Glencairn, Hilb Rogal and Hobbs' London-based operation, and Willis Group Holdings, the global insurance broker, have revealed plans to create a new third-party wholesale brokerage business, following the expected completion of Willis' planned…
Junction hires three new associate directors
Junction has appointed three new associate directors at its head office in Orton Southgate, Peterborough.
Willis and Glencairn detail new third-party wholesale business
Glencairn, Hilb Rogal & Hobbs´ London-based operation, and Willis Group Holdings have confirmed plans to create a new third-party wholesale brokerage business, following the expected completion of Willis´ planned combination with HRH before the end of…