News
Lloyd's first half results take a tumble to £949m
Lloyd's results for the first half of 2008 halved to £949m for the first six months of 2008 from £1....
This is the story of the hurricane
Hurricanes Gustav and Ike may have been relatively minor compared to Katrina but both left billions of dollars worth of damage in their wake
Transatlantic Re on the chopping block as AIG looks to restructure
AIG's 59% majority stake in US reinsurer Transatlantic Re looks up-for-sale after new chief executiv...
Recruitment moves
AIG has appointed Edward Liddy as chairman and chief executive officer. He comes into the role immed...
Reinsurers reveal Lehman exposure
The well-documented collapse of US investment bank Lehman Brothers, the severe drop-off of AIG's sha...
FSA slams PPI market after mystery shopping excercise
In an update on its thematic review of sale of Payment Protection Insurance the Financial Services Authority has set out that, due to the poor findings from its recent work, it is escalating its regulatory intervention.
Genworth examining strategic alternatives for mortgage insurance division
Genworth Financial, the global financial security company, said it is examining a number of strategic alternatives regarding its US Mortgage Insurance (US MI) business, including a possible spin-off, to determine the optimal course for Genworth, its…
Genworth says considering spin-off for mortgage insurance unit
Genworth Financial, the troubled financial security company, said it is examining a number of strategic alternatives regarding its US Mortgage Insurance (US MI) business, including a possible spin-off, to determine the optimal course for Genworth, its…
Torus acquires QBE's Praetorian Specialty Insurance Company
Energy insurer Torus said that it has entered into a definitive agreement to acquire Praetorian Specialty Insurance Company from Praetorian Insurance Company, a member company of QBE the Americas for an undisclosed cash amount.
AIG's Central, Eastern European units attracting interest - report
AIG's Central and Eastern European units are attracting interest from other insurers thanks to the stricken insurer's balanced presence in the area, a report has shown.
Arch and Validus in running to buy Transatlantic Re
Bermudian rivals Arch Capital and Validus have been tipped as possible buyers of Transatlantic Re, industry sources have told Reinsurance .
Axis gets Canadian branch license
Bermudian reinsurer Axis said that its US reinsurance operating subsidiary Axis Reinsurance Company has been authorized by the Office of the Superintendent of Financial Institutions Canada (“OSFI”) to operate as a branch insurer underwriting property and…
Argo acquires Insight Insurance
Bermuda-based (re)insurer Argo Group has acquired US professional liability insurer Insight Insurance for an undisclosed sum.
Our Network bags brokers
Our Network, which was launched by broker-owned insurance management company Broker Direct in August, has signed up 60 brokers in under two months.
Dow plummets as Fed plan to rescue banks fails to gain votes
(BestWire) — The Dow Jones Industrial Average plummeted 7% and 777.68 points, its largest point drop in history and largest percentage drop since shortly after the 11 September terrorist attacks, in the wake of the surprise defeat on the US House floor…
Endurance hires underwriter from Arch
Bermuda-based (re)insurer Endurance Specialty Holdings said that Joseph O'Donnell will be joining the firm as executive vice-president for the group's professional liability arm.
Liberty Syndicates grabs new underwriter from Paris Re
Liberty Syndicates has appointed Clotilde Spignesi to underwrite a worldwide trade credit reinsurance book in its Paris office.
Axa Insurance appoints FD
Jean Drouffe has been appointed finance director at Axa Insurance.
Liberty Syndicates ups focus on new business line
Liberty Syndicate Management has appointed Clotilde Spignesi to underwrite a worldwide trade credit reinsurance book in its Paris office.
NU urges employers to keep EL records despite legal change
Norwich Union has advised employers to keep a record of their employers' liability insurance cover, despite the removal of a legal requirement to retain certificates.
ABI responds to FSA over PPI
Payment Protection Insurance (PPI) has never been a more valuable product to consumers because of the current economic climate, the ABI has said.
FSA update on its review of the sale of PPI
The Financial Services Authority is to escalate its regulatory intervention on the sale of payment protection insurance (PPI), according to its thematic review update.
Chesterfield Group to start up North American division
The Chesterfield Group, a specialist independent Lloyd’s broker, today announced the formation of a new North American division.
Arch reveals weather and investment losses
Arch Capital, the Bermudian (re)insurer, said that it expects pre-tax earnings for the 2008 third quarter to be negatively impacted by the effects of Hurricanes Gustav and Ike in the range of $105-180m, net of reinsurance and reinstatement premiums.