News
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.
AIG cancels $8m worth of junkets to appease New York attorney general
Following a meeting with the New York State attorney general Andrew Cuomo, AIG chief executive officer and chairman Edward Liddy has agreed to take several significant actions with respect to expenditures at AIG.
AIG acting CFO Bensinger leaves
AIG has said that acting chief financial officer Steven Bensinger has resigned, with David Herzog taking his place in the permanent role.
Cooper Gay in line for "one or two" acquisitions
Cooper Gay will complete up to two acquisitions before the end of 2008, according to the company's chief executive officer, Toby Esser.
BGL unveils new insurance partner
As part of a review of suppliers for core add-on products and services, the BGL Group has selected Minster Law to provide Family Legal Protection.
Marsh warns on supply chain risks
Financial instability and deteriorating economic conditions in the UK are prompting companies to improve efficiency and drive down operating costs in their supply chains. However, these will increase risk exposures warns Marsh.
Catlin CEO reflects on market turning events as it reveals hurricane losses
Catlin Group has outlined its initial estimate of the financial impact of Hurricanes Ike and Gustav.
Allianz Retail appoints directors from Lehmans and RSA
Allianz Retail has appointed Adrian Mitri as director of operations and Tom Moss as director of underwriting.
Torus appoints new head of global casualty arm
Torus Insurance Holdings, the Bermuda-domiciled specialty insurer, has appointed David Perez as president and chief underwriting officer of its global casualty arm, with effect from October 14th. He will report directly to David Hope, Torus’ chief…
Fitch revises outlook on insurance industry to 'negative' from 'stable'
>US ratings agency Fitch Ratings has revised its outlook on the insurance industry to 'negative' from 'stable'.
Ascot names new CEO
Andrew Brooks, currently chief underwriting officer of Ascot Underwriting, has been named chief executive officer, with immediate effect.
Ace extends commercial D&O offering into Lloyd's
ACE Europe has extended broker access to its market-leading directors' and officers' (D&O) portfolio by writing commercial D&O risks at Lloyd’s.
Ace Europe to write commercial D&O risks at Lloyd's
Ace Europe, the European arm of Switzerland-domicled (re)insurer Ace, has said that it is to start writing commercial D&O risks at Lloyd’s.
Distribution Strategies - finding your way through the maze
Leading industry experts and decision makers will be debating the future of general insurance distribution - and how companies can stay ahead of the curve - at Post's Distribution Strategies conference on 30 October. The impressive line up includes:…
Navigators Group estimates $18m of post-tax losses from Gustav, Ike
The Navigators Group, the US-headquartered insurance holding company with operations in London, has estimated after-tax loss from Hurricanes Gustav and Ike will approximate $18m (£10.3m) in the 2008 third quarter.