News
Ratings review - Rating agencies downgrade RenRe
Moody's Investors Service has lowered the senior debt rating on RenaissanceRe Holdings to Baa1 from ...
Moody's report weighs impact of Hurricane Wilma
Moody's has published a new report concluding that the add-on losses of Hurricane Wilma - one of the...
Underwriting team - Amlin Bermuda announces team
Amlin has announced that the underwriting team for its new $1bn Amlin Bermuda operation will be head...
Start-ups beware: does GE know something you don't?
Mark Geoghegan thinks that Swiss Re's purchase of GE Insurance Solutions (GEIS) shows that a soft market could reassert itself much faster than anyone currently imagines
New start-ups
Here is the full list of start-ups so far: BAAAFHHLNVCCG A stream of new start-up reinsurers, includ...
Asbestos agreement - Equitas agrees deal with GM
Equitas and General Motors Corporation have reportedly reached a comprehensive settlement agreement....
Ratings thumbs-up for Bermudian reinsurer New Castle Re
AM Best has assigned a financial strength rating (FSR) of A- (Excellent) and an issuer credit rating...
AIG delays report after discovering $500m hole in accounts
American International Group (AIG) has announced it will delay the filing of its Form 10-Q for the q...
Company relocation - Hiscox mulls over Bermuda move for parent company
Hiscox, one of the leading players in the Lloyd's market, is considering moving its parent company t...
Company acquisition - New Bermuda reinsurer to pick up Chubb business
Stone Point Capital has formed Harbor Point, a global reinsurance company that will be based in Berm...
Swiss Re acquires GEIS
Swiss Re has agreed to acquire GE Insurance Solutions (GEIS), the fifth largest reinsurer worldwide,...
US reviews national catastrophe insurance
US Catastrophe insurance summit
APRA paper discusses standards reforms
General insurance reform proposals
O’Hara puts brave face on WI setback and reveals “significant” equity funding plans
President and CEO of Bermudian (re)insurer XL Brian O'Hara, has described the draft Actuary’s report in connection with the Company's acquisition of Winterthur International (WI) 2001 as “disappointing” whilst outlining and XL's planned capital…
XL names new Bermudian start-up Cyrus Re
XL has revealed the identity of its new start-up property catastrophe reinsurance retrocessionaire as Cyrus Re, domiciled on Bermuda, with initial capital of $500m.
Fitch affirms XL Capital ratings
Fitch Ratings has affirmed the ratings of XL Capital (XL) and its property/casualty (re)insurance subsidiaries, including the 'A-(A minus)' Long-term issuer rating for XL, and the 'AA-(AA Minus)' Insurer Financial Strength ("IFS") rating of lead (re…
Advent ups Katrina loss by 46%, to raise £30m in equity
Lloyd's property catastrophe reinsurer Advent Capital has today announced sharply increased loss estimates for losses arising from the 2005 Hurricane season and an £30m ($53m)equity issue.
Chubb promotes two for new regional push
Chubb Insurance has created two new roles as it aims to strengthen the Chubb Speciality Insurance division in the regions.
CII acts on mis-selling fears
The Chartered Insurance Institute today announced it is to re-launch an enhanced learning package for practitioners offering Payment Protection Insurance at the beginning of next year in light of public concerns.
New Foil president prepares to take up Comp Bill challenge
The Forum of Insurance Lawyers has appointed Neil McLaughlin, partner in law firm Morgan Cole, as its new President.
Spitzer drops criminal charges against Hank Greenberg
New York Attorney General Eliot Spitzer has decided not to pursue possible criminal charges against former AIG chairman and chief executive Maurice "Hank" Greenberg in connection with the insurer's accounting scandal, according to the Wall Street Journal…
AIG in new personal lines Lloyd's move
In order to service the High Net Worth sector "more effectively" AIG Europe has decided to start underwriting HNW business through AIG Private Client Group from its Lloyd’s box from 1 December 2005.
Beazley Group funds insurance growth
Beazley Group has announced that it has signed a £150m letter of credit and revolving credit facility.
Chaucer upbeat for 2006
Lloyd's insurer Chaucer has published syndicate forecasts commenting that 2004 remains on course to produce a third consecutive year of healthy underwriting profits despite hurricane losses and that it expects underwriting capacity for 2006 to increase…