News
Guy Carp claims Cat CDO first for Catlin
Reinsurance broker Guy Carpenter and fellow group company MMC Securities have placed a $200m collateralised debt obligation of natural catastrophe risk on behalf of Bermudian (re)insurance group Catlin.
Ascot to open Singapore office
Lloyd’s (re)insurer Ascot Underwriting has announced plans to open an underwriting operation in Singapore.
Liquidity squeeze still hurting Scottish Re
Troubled life reinsurer Scottish Re has reported a loss of $27.4m in the third quarter of 2006 compared to a profit of $34,4m a year earlier on revenues up to $611m from $563m over the period. Shareholders equity also increased to $1,283m against the…
Giles Insurance Brokers makes £5m double acquisition
Giles has made a double acquisition in Yorkshire with Richmond Insurance Brokers and Calvert Glover.
Primary Claims Management launched
Primary Group, the Bermudan-based insurance distribution company, has announced the launch of its new claims management operation.
Max re confirms Becker in top job, unveils delayed 3Q
Bermudian reinsurer Max Re has appointed W. Marston Becker as Chairman and Chief Executive Officer as a permanent replacement for the departed Bob Cooney and has published its delayed third quarter results.
Zurich UK announces its new structure
Zurich Financial Services Group has revealed its new structure for the UK general insurance arm. The news follows the announcement that, subject to regulatory approval, Guy Munnoch will succeed Ian Stuart as chief executive officer from 1 January 2007.
Claims firm expects several buyout offers
Aquilo has confirmed that it expects to receive a number of offers after revealing earlier approaches alst month.
Limit tops £1.12bn
QBE today announced a 12% capacity increase for Limit to £1.12bn for the 2007 year of account, representing an increase of 12%.
CV Starr rebrands marine divisions
Global underwriting agency CV Starr has rebranded its marine insurance subsidiaries under the name Starr Marine.
Bollington acquires FM Green
The Bollington Group has raised its premium income close to £70m following the acquisition of specialist motor trade broker FM Green.
Aon beefs up Moscow office in Eastern Europe expansion drive
Aon has employed Alexey Polyakov as reinsurance manager in its Moscow office with effect from 1 November 2006. Mr Polyakov was previously employed at Transsiberian Re.
Chubb rehires Willis broker as head of Specialty
Chubb Europe has hired Jeremy Miles as Head of Chubb Specialty Insurance (CSI) for UK and Ireland, where he will oversee various lines of business including: Directors & Officers, Crime, Professional Indemnity, and Financial Institutions.
ACE advises caution over mandatory pension trustee insurance.
ACE European Group has welcomed proposals by Brian Holden MBE that the Pensions Regulator should make Pension Trustee liability insurance mandatory. However the insurer also stresses that although this might be a useful step forward, this is no…
Link seals major underwriting deal
Link Insurance has successfully signed a deal with EURL Assurances Pilliot, an underwriting agent in France.
Glacier Re launches direct arm from Liechtenstein
Glacier Re the Swiss-based reinsurer founded in late 2004 has revealed it has started a direct insurance company, Glacier Insurance.
RSA splashes £38.5m on Martello Underwriting.
Royal & SunAlliance has bought Martello Underwriting for £38.5m.
Axa first primary insurer to securitise life Catastrophe covers
Swiss Re as announced that it has placed securities worth $442m to covering catastrophic mortality experience in France, Japan and the United States for the benefit of Axa.
Arista reveals launch team
Arista, the start-up underwriting operation launched by Charles Earle, the former Managing Director of NIG Commercial Lines, has announced further details of its core management team prior to business commencing next month.
Hannover re gets China licence
Hannover Re has received a licence from the China Insurance Regulatory Commission (CIRC) to transact life and health reinsurance in the People's Republic of China.
Novae syndicates' financial strength rating upgraded
Moody's Investors Service has changed the outlook of the A3 Insurance Financial Strength Ratings of Lloyd's syndicates 1007 and 2147 - Novae Syndicates Limited -- to positive. The company said this was due to the improving overall aggregate financial…
Allianz in high street retail schemes boost
Allianz Cornhill Schemes has extended its insurance book for leading UK retailer Argos to cover furniture.
AMII gives ARs full voting rights
The Association of Medical Insurance Intermediaries is to allow appointed representatives to become full voting members.
Allianz Cornhill's engineering director retires
Alan Harris, Allianz Cornhill's director of engineering, is to retire after 10 years running the division, the insurer has announced.