News
ABI: commercial theft claims soar
The Association of British Insurers this week said the value of commercial theft claims shot up 25%...
Appointment at Ascot Underwriting.
Mark Smith has moved to Ascot Underwriting as the company's business planning manager. He will be wo...
Countdown to new standards
New international accounting standards will affect all aspects of (re)insurers' business. Yet Rusty Nelligan and Craig Morton see valuable opportunities for reinsurers as insurers seek better ways to manage and report exposures.
AM Best rating downgrade for Trenwick
AM Best has joined other rating companies in downgrading the troubled Bermuda-based (re)insurer Tre...
Confusion continues over arbitrator bias
A surprise decision on a party-appointed arbitrator's impartiality has now been reversed but neutral arbitrators are still liable to be charged with bias. Peter Chaffetz and Steven Schwartz report.
ESG Re delisted from Nasdaq
Rating agency Fitch has maintained its 'B' (weak) insurer financial strength ratings of ESG Re's ma...
Arig shelves plans to raise more capital
The Arab Insurance Group (Arig) of Bahrain has shelved plans to raise more capital. Arig failed to ...
EC seeks comment on study of reinsurance supervision
The European Commission (EC) has taken a further step towards harmonising reinsurance supervision i...
Axis Capital makes profit
Axis Capital, the holding company of Bermudian (re)insurer Axis Specialty, made a net profit of $26...
All are keen to join the party
Captives are being used in increasingly innovative ways and more jurisdictions want a slice of the action. Rory Moloney explains the trends behind the buoyant market.
S&P revises outlook
Rating agency Standard & Poor's (S&P) expects the International Group of marine protection and inde...
Appointment at Lloyd's Market Association
The Lloyd's Market Association has appointed a new chairman - Robert Childs, executive director and...
German terror pool faces March decision on future
The (re)insurance shareholders of the German terror pool Extremus are likely to consider late in Ma...
Be sure you measure up
In the current environment, captives and their parent companies must pay more attention to corporate governance, says Tony Dowding.
Pressure rises on all fronts
Demand for fronting services for captives is rising, just as insurers are pulling out of the market or pushing up prices and imposing stricter conditions. Captives are therefore turning to other fronting options, says John Sanders.
Willis makes profit in 2002
Broker Willis made a $210m profit in 2002, up from just $2m in 2001. Chief executive Joe Plumeri ex...
Appointment at Willis North America
Mario Vitale has been promoted to chief executive of Willis North America, part of global broking g...
Hartford writes traditional reinsurance
The Hartford group wrote $618m of traditional reinsurance in 2002 compared with $736m in 2001. Writ...
(Re)insurer results - 2002 ($m)
(Re)insurer results - 2002 ($m) Gross ...
India licenses seven brokers
India has licensed seven insurance brokers and four (re)insurance brokers for three years to late J...
Appointment at Guy Carpenter
David Priebe, managing director at Guy Carpenter, has been promoted to head the broker's worldwide ...
Platinum Underwriters to write just under $1bn net premiums
New Bermudian reinsurer Platinum Underwriters expects to write just under $1bn in net premiums this...
Good, but not good enough
It is heartening to see black ink starting to reappear in reinsurers' results (see 2002 results tab...
Arch Capital enters marine hull market
Bermuda's Arch Capital has entered the marine hull market in partnership with Eagle Ocean Services....