News
Pru CEO Tucker says it is monitoring AIG situtation closely
The group chief executive of Prudential has admitted that the insurance group is monitoring AIG disposal programme.
Chaucer estimates $55m loss from hurricanes
Lloyd's insurer Chaucer has announced its early assessment of the effect of Hurricanes Gustav and Ike. The preliminary estimate for the cost (net of reinsurance and reinstatement premiums) of these two events is approximately US$55m.
Lloyd's unveils Ike and Gustav loss projections
Lloyd’s, the world’s leading specialist insurance market, announced today its provisional loss estimate for Hurricanes Gustav and Ike.
Endurance to report third quarter operating loss
Bermudian (re)insurer Endurance Specialty Holdings said that it expects to report a third quarter operating loss in the range of $0.96 – $1.15 per share, thanks to difficult investment conditions and losses from Hurricanes Gustav and Ike.
Synergy launches into high-end premiums
Synergy Insurance Services has officially launched into the high-net worth market with Synergy Private Clients, the company announced today.
AA director admits surprise as household premiums fall
The latest benchmark AA British insurance premium index of home insurance premiums recorded quarterly rise in the average quoted premium for an annual buildings insurance policy, which now stands at £213.32, about £3 or 1.8 per cent higher than the…
Motor premiums up 7.6% in 12 months claims survey
The latest figures from the AA’s benchmark British insurance premium index show UK average premium quoted for an annual comprehensive insurance policy rose 3.1 per cent or £22 over the past quarter, a similar rise to the previous three months. Over the…
Cousins to head up new Aon Re Global Fac unit
Aon Re Global Fac, the facultative reinsurance arm of Aon Re Global has launched an alternative solutions unit to provide access to non-standard facultative reinsurance products across ARGF's portfolio. It will be headed up by Paul Cousins.
Jubilee hires new director of underwriting
Jubilee Managing Agency, the specialist Lloyd’s insurer, said it has appointed Andreas Loucaides, the former chief executive of Catlin UK, as director of underwriting to expand its portfolio and diversify its product and business class offerings.
Our Network confirms broker panel
Our Network has announced the formation of its broker advisory panel and those who will sit on it.
Knowles launches new lettings risks company
Former market director for general insurance at the Chartered Insurance Institute, Peter Knowles, has launched a new company aimed at the lettings market.
AIG has already drawn down two-thirds of loan
(BESTWIRE) Stricken insurer American International Group has drawn down, within a month, two-thirds of the $122.8bn in federal loans made available to keep the giant insurer afloat, said the company and the Federal Reserve.
Swiss Re in weather derivative contract with World Bank
Swiss Re announced that it has entered into a weather derivative contract with the International Development Association (IDA), the arm of the World Bank that helps the world’s poorest countries.
Airmic warned that credit crunch is "breeding ground for fraud"
Association of Insurance and Risk Managers members have been warned to be on their guard against employers' liability claims.
Amlin: Hurricane Ike losses higher than original estimates
Amlin expects the market insured loss for Hurricane Ike will be in excess of $16bn, higher than modelling agents' current estimates. This is due to the far reaching impact of the storm both on offshore energy installations and on the mainland.
Swiss Re set to take on underwriting of RBSI
Swiss Re is reported to have teamed up with venture capital firm CVC to bid for Royal Bank of Scotland Insurance.
Prudential said to be looking at AIG's Asian Business
Prudential, the UK insurer, is reported to be in talks with two strategic investors to take a 20% stake in the company and help the company mount a $15bn (£8.6 bn) bid for AIG's Asian business.
Swiss Re said to be joining CVC in joint bid for Direct Line
Swiss Re is said to be joining CVC in a joint bid for Royal Bank of Scotland's insurance arm.
Flagstone Re to buy Marlborough Underwriting
Flagstone Re, the Bermudian (re)insurer has confirmed it has entered into an agreement to acquire Marlborough Underwriting Agency, the managing agency for Lloyd's Syndicate 1861 - a Lloyd's syndicate underwriting a specialist portfolio of short tail…
Zurich UK set to redomicile
Zurich UK has become the latest company to make the decision to redomicile in the Republic of Ireland in a move the insurer says will create greater efficiencies throughout the group, Post's sister publication Insurance Age has learnt.
Willis chief applauds Dinallo's call for contract certainty
Joe Plumeri, chairman and chief executive officer of Willis Group Holdings, has applauded the efforts of Eric Dinallo, the Superintendent of Insurance for New York State, to bring contract certainty to the insurance industry in New York.
ABI: we will not be complacent but the insurance industry remains strong
The Association of British Insurers has insisted that the UK insurance industry remains stronger than during previous times of market turbulance.
RSA opens renewable energy hubs
RSA has expanded its global renewable energy division with the launch three centres of excellence that will be based in UK, Canada and Denmark.
Senior property underwriter resigns from Ascot
Mark Donald, senior property underwriter and a director at Ascot, has resigned from his post, Reinsurance has learnt.