News
Transatlantic Re outlines hurricance losses
Transatlantic Holdings, the (re)insurer that is majority-owned by stricken US insurance giant AIG, said that net costs for Hurricanes Gustav and Ike were between $45-60m.
Rate rise predictions slammed by Irish Injuries Board
Patricia Byron, the chief executive of the Injuries Board in Ireland (previously the Personal Injuries Assessment Board) has hit out at speculation that insurance premiums should rise by 10% - 20%.
Vision Underwriting appoints new liability and commercial managers
Liability specialists Vision Underwriting, a Cheltenham-based subsidiary of Liberty Mutual Insurance Europe and a member company of the Liberty Mutual Group, has appointed Rob Price as liability manager and Richard Trinder as commercial manager.
Heath Lambert pushes public relations strategy
Heath Lambert has appointed Elliot Lane to the new role of group public relations director.
Chaucer hires new international property treaty underwriter
Chaucer Syndicates has appointed Maria Fahy as international property treaty underwriter for Chaucer Syndicate 1084.
Whittington Group makes appointment
Whittington Group, the international insurance investor and services provider, has announced that Kevin Lee Chung Wei has been appointed as the director of strategic acquisitions for Whittington Asia Pacific.
Brightside sees turnover and profits jump
The insurance broking group Brightside has recorded turnover of £15.6m (2007 £11.2m) and an adjusted operating profit before tax increased of £2.50m (2007 £0.92m) for the six months to 30 June 2008.
Insurance and banking giant Fortis part nationalised
The Governments of Belgium, Luxembourg and the Netherlands have invested EUR11.2bn in the respective Fortis institutions in each country
Fortis' UK insurance business not affected by part-nationalisation in Europe
The part-nationalisation of Fortis bank will not have any affect on Fortis’s insurance business in the UK, according to a spokesperson for the insurer.
Berkshire Hathaway, Lexington in reinsurance deal
AIG's Lexington Insurance Company said that it has arranged contingent property reinsurance cover from Berkshire Hathaway’s National Indemnity Company for Lexington’s real estate portfolio, as well as policies having limits of $250m or greater, policies…
Ecclesiastical in regional restructure
Specialist insurer Ecclesiastical has announced plans to reorganise its regional network:
Aon trio defect to Marsh
Marsh has made three senior appointments to its international surety practice. Steve Powney, Steven Lewis and Tricia Burgess have all joined Marsh from Aon’s surety and guarantee team.
Book your place now for 2008 Broker Expo
The Insurance Age Broker Expo 2008 will be held on 13 November 2008 at the Ricoh Arena, Coventry.
RSA updates European products
RSA has announced the commencement of new services for customers in France and Germany.
NU in used vehicle deal
Norwich Union, part of Aviva, is helping policyholders get back on the road quicker by offering a used vehicle replacement service after they have agreed their cash settlement for a written-off vehicle claim.
Paris Re says net losses after reinsurance for Gustav/Ike $75-95m
Paris Re, the French (re)insurer, announced today that its initial loss estimates for Hurricane Gustav and Hurricane Ike are respectively $10-20m, and $75-95m net after reinsurances, both preliminary figures are on a pre-tax basis and net of expected…
Benfield launches new financial modelling tool
Benfield has launched a financial modelling tool that assists re/insurers to better quantify the risks inherent in their business in line with rating agency and solvency requirements.
Greenberg, Foundations, selling AIG Stock
(BestWire) — Maurice “Hank” Greenberg and companies and foundations that he controls are selling shares of American International Group Inc., the giant insurer he once ran, according to documents filed with the U.S. Securities and Exchange Commission as…
AIG to announce restructuring plans on Oct 3 - sources
AIG, the recently bailed-out insurance giant, is set to announce its restructuring plans on October 3, sources familiar with the situation told Reinsurance.
Axis Capital reveals exposure to Lehman and AIG
Axis Capital has said that it has $34m of exposure to collapsed US investment bank Lehman Brothers, as well as $18m to the operating subsidiaries of AIG.
Axis Capital says Gustav, Ike exposure $310-430m
Bermudian reinsurer Axis Capital said that preliminary net loss estimates for Hurricanes Gustav and Ike range from approximately $310-$430m, net of reinstatement premiums.
Friends Provident announce new online seminar
Friends Provident will be hosting its next online seminar on 8 October.
IFA Life teams up with Standard International
IFA Life has teamed up with Standards International to assist IFAs to achieve ISO 22222 certification.
RSA share price up as bid rumours circulate again
RSA shares jumped again today as rumours continued to circulate that it is a bid target.