News
Aon Q2 net income jumps, helped by $1.1bn positive charge
Aon's second quarter net income improved to $1.1bn in the second quarter from $240m the year before, helped by a positive charge of $1bn for its sales of insurers CICA and Sterling.
JLT pre tax profit falls 30%
Broker JLT this morning reported a 9% increase in fees and commissions to £266.2m and 4.9% jump in underlying trading profit to £44m for the first half of 2008. However, its profit before tax fell 30% to £53.4m.
Scor buys Prévoyance Ré in France for €73m
Scor, the French (re)insurer, said it has bought French (re)insurer Prévoyance et Réassurance and its Life and Health reinsurance subsidiary Prévoyance Ré from rival Malakoff Médéric for €73m.
Marsh awarded first-ever captive insurance licence for Dubai
Marsh has been awarded a licence to provide captive insurance management in Dubai. Operating as Mar...
Cooper Gay: have money, will buy
Cooper Gay has signed a £31.6m ($63m) senior debt financing facility with National Australia Bank, L...
Guy Carpenter, Willis Re point to softening cycle
Reinsurance prices dropped again at the 1/7 renewals deadline, according to reports from Guy Carpent...
M&A continues as Tokio buys Philadelphia Consolidated for $4.7bn
Tokio Marine has announced that it has entered into a definitive agreement under which Tokio will ac...
Hurriance Dolly losses could reach $700m - AIR
Losses from Hurriance Dolly could reach $700m, according to a report from AIR. AIR added that the "...
Ace completes redomicilation to Switzerland
Ace Limited has completed its previously announced redomestication of the company, from the Cayman I...
IFEX adds Florida and Gulf Coast contracts
Cat futures firm IFEX has announced that the Chicago Climate Futures Exchange (CCFE) started listing...
Recruitment moves
Joe Silmon has moved to RWS, one of the world's largest translation companies. He will be responsibl...
Lloyd's reform order laid before UK government
Economic Secretary to the UK Treasury, Kitty Ussher MP, yesterday laid before the UK parliament a dr...
Munich Re, Berkshire Hathaway to buy GAUM
Munich Re and Berkshire Hathaway are to buy Scor's share of aerospace underwriter Global Aerospace U...
Cat bond party may be 'over' - Willis
The party may be over for investment-linked securities, Willis stated in a report. "ILS activity ha...
Aon replaces Ryan on supervisory board
Aon has elected Lester Knight as its non-executive chairman of the board. He will replace former Aon...
IAG to sell Lloyd's syndicate Alba
Troubled Australian insurer IAG is to sell its Lloyd's specialist Asian syndicate Alba. IAG said it...
Harbor Point applies for UK branch licence
Class of 2005 Bermudian and US reinsurer Harbor Point has applied to the Financial Services Authorit...
AIG appoints Willumstad as new CEO and buys rest of Ascot
AIG remained in the news this summer after chief executive Martin Sullivan was ousted in mid-June an...
Carvill claims $60m derivatives traded on its CME contracts
Reinsurance broker Carvill has said that trading its Carvill Hurricane Index (CHI) contracts continu...
SEC report slams S&P, Moody's and Fitch
The SEC has issued a damning report into practices at ratings agencies Standard and Poor's, Fitch an...
Torus takes Munich Re's construction team - sources
New energy Torus has boosted its construction reinsurance book after taking four of Munich Re's cons...
KnightBrook buys Excess Re
KnightBrook, a recently established holding company of Knight Insurance Company and Venbrook Group, ...
New network launching
Broker Direct will launch a new network early next week, Post has learnt.
Arista appoints NU schemes boss
Commercial lines underwriting operation Arista Insurance has appointed Andrew Ball as schemes manager.