News
XL Re obtains approval for Dublin reinsurance move
Bermudian (re)insurer XL Capital has received approval for XL Re Europe Limited, its new Dublin-base...
Kiln assigned 'bbb' stable rating for $35m debt issue
AM Best has assigned a 'bbb' rating to the $35m floating-rate subordinated bonds, issued by Lloyd's ...
Report says Marsh rejected Willis bid
Willis made an informal offer to buy rival broker Marsh, but was turned down, according to a newspap...
'Hank' Greenberg receives new boost from court ruling
The former chief executive of the American International Group (AIG), Maurice 'Hank' Greenberg, has,...
Catlin: benign storm season will accelerate soft market
Stephen Catlin, chief executive of Bermuda and London Market (re)insurer Catlin Group, has said that...
Rapid Chinese growth heightens quake risk
Rapid urbanisation and building construction have increased the exposure of people and property to e...
New reinsurance buyer at XL
David Duclos, chief operating officer for XL Capital's (XL) global insurance operations, XL Insuranc...
Resignations to hit profits at Benfield
Reinsurance broker Benfield has admitted recent senior departures from its facultative solutions tea...
Recruitment moves
James Read has joined electronic trading service RI3K as sales and marketing manager, where he will ...
Cathedral 2010 has 'A' rating affirmed
AM Best has affirmed the syndicate rating of 'A' (excellent) and issuer credit rating (ICR) of 'a' f...
Converium gets approval for retakaful licence for Malaysia
Converium has received the approval of the Malaysian Labuan Offshore Financial Services Authority (L...
Scottish Re facing class action from Ohio AG
Ohio Attorney General Jim Petro has filed a motion in federal court in New York requesting the State...
Irish claims body reports massive savings for insurers
The Personal Injuries Assessment Board (PIAB) of Ireland, set up to reduce insurance costs, has repo...
Heath Lambert puts Spanish operations into run-off
Heath Lambert closed its Spanish reinsurance broker, Heath Lambert Interbroker (HLI), to new busines...
The biggest failure of our times
Shocked that when the 'big one' comes, most people are going to be uninsured, Mark Geoghegan argues we have a moral duty to provide earthquake cover to our customers
JLT completes £100m US sale
Jardine Lloyd Thompson has confirmed that the sale of its US-based property and casualty (P&C) insur...
Alexander Forbes launches new PI policy for accountants in run-off
Alexander Forbes Professions has launched a new professional indemnity (PI) insurance product for me...
Berkshire Hathaway-Equitas buy-out to bring finality to Names
Berkshire Hathaway has reached an agreement in principle on a structure in which National Indemnity ...
Zurich names new CEO as Stuart steps down
Zurich Financial Services has appointed Guy Munnoch to the position of chief executive officer, General Insurance in the United Kingdom, effective 1 January 2007. He repalces Ian Stuart who will retire at the end of the year.
Compliance.co.uk makes new appointment
Professor David Jackman, the founding chief executive of the Skills Council for Financial Services and former head of Training & Competence, Industry Training and Business Ethics at the Financial Services Authority has joined Compliance.co.uk Limited.
RenRe risk appetite rewarded with 'stellar' 3Q
Bermudian reinsurer Renaissance Re has reported net income of $251.1m in the third quarter of 2006 compared to a net loss of $287.3 m for the same quarter of 2005. Renaissance said the results benefited from light insured catastrophe loss activity…
FSA publishes radical proposals for move to principles-based regulation
The Financial Services Authority (FSA) has published its proposals for a radical simplification of the rules that firms must follow in carrying out investment business with customers.
Solid 3Q for Axis
Bermudian (re)insurer Axis Capital has reported net income $226.2m, for the quarter ended September 30, 2006, compared with a net loss of $468.1 m for the same quarter in 2005.
Claims People moves to City office
Claims facilities provider, The Claims People Group, is moving its London base from Southwark into new space in Lloyd’s Avenue in the City.