News
PartnerRe ups Ike claims forecast by over $100m
Bermudian reinsurer PartnerRe upped its estimate of claims from Hurricane Ike by $115m (£77m) to a total estimate of approximately $305m, pre-tax and after reinstatement premiums.
KGM snags senior exec from RBSI
KGM Motor Insurance, a specialist provider of motor insurance products to niche markets, has appointed Neil Manvell as deputy underwriter.
AIG sells private bank
Stricken insurer AIG said that it has agreed to sell it's private banking arm, AIG Private Bank to Aabar Investments PJSC (Aabar), a global investment company based in Abu Dhabi.
Broker Network welcomes new members
Broker Network welcomes two new members today – RG Ford and Taylor McGilll Insurance Consultants – bringing its total to 210 with a shared gross written premium in excess of £550m.
MYI acquires Axis international team
Loss adjuster MYI has acquired a specialist casualty team from rival Axis International.
MYI acquires Axis international team
Loss adjuster MYI has acquired a specialist casualty team from rival Axis International.
Heath Lambert hires former JLT real estate chief
Heath Lambert Group has strengthened its real estate operation with the appointment of Paul Williams as executive director.
Kindertons joins AMA executive committee
Chris Latham, general manager for Kindertons Accident Management, has joined the executive committee of the Accident Management Association.
Sompo reports 56.3% in H1 net income
(BestWire) - Japanese insurer Sompo Japan Insurance Inc. reported a 56.3% drop in net income to 22.74bn yen (€186.7m) for the six months ended September 30.
LV confirms interest for its hero business
LV has confirmed it has been approached by investors interested in acquiring Hero, the direct insurance and ecommerce subsidiary of Highway Insurance - as reported by Post on 27 November. LV= completed the acquisition of Highway in October 2008.
Aon unveils new business unit following Benfield deal completion
Aon plans to create a new global specialty business unit – Aon Specialty, it said today. The broking giant said the "strategic move" - a combination of Aon Specialty Risks and Benfield Corporate Risks' specialty division - was designed to take advantage…
Aon outlines new role for former Benfield boss Chilton
Grahame Chilton, vice chairman of Aon Group and former Benfield chief, is to lead a multi-year effort to improve growth across all areas of Aon, the broking giant announced today.
Zurich completes acquisition
Zurich Financial Services Group's Brazilian subsidiary Zurich Participações has completed the acquisition of common shares representing 87.35% in Companhia de Seguros Minas Brasil, a BOVESPA-listed company, from Banco Mercantil do Brasil, and two private…
Liberty looks to build European energy account
Liberty Mutual Insurance Europe, part of Liberty International Underwriters, has appointed Didier Robin as vice president energy & construction. Based in France, he is the first energy underwriting appointment for LIU's continental Europe business and…
Results round-up
Munich Re has remained upbeat about the prospects for the world reinsurance profit, despite booking ...
From bad to worse for AIG as Liddy draws $1 salary in 2009
November proved to be another tumultuous month in the history of AIG. At the start of the month, reg...
Berkshire Hathaway Q3 net income drops 77%
Third quarter profits at financial services behemoth Berkshire Hathaway dropped 77% to $1.06bn, down...
Airline renewal rates up by 12%
Airline renewal rates are continuing to climb, according to brokers Aon and Willis. Airline renewal...
Marsh cuts 12 aviation broking jobs
Marsh, the broking arm of Marsh and McLennan, has cut 19 aviation broking jobs at its flagship UK of...
700 jobs to be slashed as Aon looks to 'streamline' after Benfield takeover
As many as 700 jobs will go as part of Aon's takeover of Benfield, Aon said in a statement. Aon sai...
Marsh and McLennan offers shares up for acquisition
Marsh and McLennan (MMC), the financial services giant that owns insurance broker Marsh and reinsura...
Down but not out
Thomas Hess examines what the financial market turmoil means for reinsurers
Recruitment moves
Munich Re has appointed Joachim Wenning as the head of its life reinsurance operation. He has been a...
California wildfire residential losses to hit $800m
Risk modeling firm AIR Worldwide has estimated total insured losses from the Freeway Complex, Sayre ...