News
Snowball outlines reasons for stepping down from Towergate board
Towergate has confirmed that Patrick Snowball has relinquished his non executive role on Towergate Partnership Board but remains chairman of Towergate Financial Services
New Axa Insurance CEO Maso insists he is no 'Mr Fix It'
The new chief executive of Axa Insurance, Philippe Maso, has insisted that he is not a Mr Fix-It and is here for the long term.
Snowball to step down at Towergate after IPO delay
Former Aviva general insurance boss Patrick Snowball is stepping down as deputy chairman of consolidator Towergate ( Snowball outlines reasons for leaving)
Snowball out as deputy chairman of Towergate
Former Aviva general insurance boss Patrick Snowball is stepping down as deputy chairman of trailblazing UK broking consolidator Towergate, according to a report.
Berkshire Hathaway reports a 64% decrease in Q1 profit
Berkshire Hathaway reported a first-quarter profit of $940m, a decrease of 63.8% from the same perio...
Universal Studios fire to cost $50m
The fire at Universal Studios is expected to cost insurers around $50m, sources familiar with the si...
Market votes to amend Lloyd's Act
Lloyd's has voted to amend the Lloyd's Act 1982 by means of a legislative reform order. At an extra...
JLT to acquire Harman Wicks Swayne?
Broking giant JLT is in discussion with HWS Holdings that could see it buy all or part of the Lloyd'...
Florida P&C pricing off 15% says Guy Carpenter
Florida property catastrophe pricing is expected to decline by about 15% at the 1 June renewals, acc...
Marsh CEO to get $5m compensation
MMC will pay departing chief financial officer Matthew Bartley more than $5m in compensation after t...
Fitch: only a $40bn loss would halt cat slide
It would take insured losses of around $40bn to reverse the softening catastrophe price cycle, US ra...
Aon and Florida compensation deal
The Florida authorities have reached a settlement with Aon relating to undisclosed compensation in c...
AM Best: Vacant houses may cause fraud worries
The next big hurricane to hit the US mainland may cross a landscape with an unusually high number of...
XLCA says exposure to Alabama's Jefferson County is $810m
SCA, a subsidiary of XL's 46%-owned financial reinsurer XL Capital Assurance (XLCA) said its exposur...
Allied World launches two US specialist units
Bermudian (re)insurer Allied World Assurance Company has launched two specialist units in the US - A...
Busy month for capital market convergence
May was a busy month for the reinsurance world's venture into the capital markets. As revealed by R...
Citizens cover attracts big hedge fund support
Citizens, the Florida state-owned insurer of last resort, is to see a 1 June $440m reinsurance place...
China losses may exceed $20bn
Catastrophe risk modeling firm Air Worldwide estimates that total losses to insured and uninsured pr...
No widespread US downgrades
Moody's has said that there won't be widespread downgrades of US life and property and casualty insu...
S&P says soft cycle may lead to negative outlooks
Ratings agency Standard and Poors has warned that deterioration in premium rates and terms and condi...
Obama backs Fed Cat scheme as exposure mushrooms
US presidential candidate Barack Obama has come out in support of a national catastrophe fund. "I t...
Sub-prime claims within expectations
Lloyd's chairman Lord Levene reiterated that that claims emerging from the US sub-prime mortgage dis...
Vote of confidence for AIG's Sullivan
AIG's board has given chief executive Martin Sullivan a vote of confidence despite a first quarter l...
Bermudians still looking to London
Bermudian (re)insurers are still looking to the London market for platforms, Reinsurance has discove...