News
Allied World says Q3 operating income to be in $85-95m range
Bermuda-based (re)insurer Allied World said that it expects to report operating income for the third quarter of the year of between $85-95m.
IFB helps stop multi million pound 'cash for crash' scam
Police have arrested the director of an accident management company for conspiracy to defraud UK motor insurers as part of a 'cash for crash' scam this morning.
Berkshire Hathaway looking to offload Marlborough Underwriting
Berkshire Hathaway is looking at selling its underwriting agency Marlborough Underwriting, according to a senior source at the company.
Munich Re says not 'fundamentally' affected by stock market collapse
Munich Re, the German (re)insurance giant, has said that it has not been fundamentally affected by the recent collapse of world equity prices.
Aon sells AIS Management to Mercury Insurance Group
Aon said it has sold its AIS Management Group unit to Mercury Insurance Group,California's third-largest personal automobile insurance carrier.
Tunnicliffe promoted to active underwriter at Kiln
Lloyd Tunnicliffe, who joined Kiln on 1 September, will take over as active underwriter of Kiln’s Syndicate 807 with effect from 15 October.
Benfield shareholders give go-ahead to Aon merger
Shareholders of UK reinsurance broker Benfield have approved the £844m takeover of the company by US broking giant Aon at a special general meeting in Bermuda.
XL former CEO forced to sell shares to meet margin call
XL Capital has said that its chairman, Brian O’Hara, involuntarily sold approximately 80% of his XL common shares on 9 October in order to meet a margin loan call.
Aflac looking at AIG's Japanese life arm
(BestWire) — US insurer Aflac may be interested in buying the life insurance subsidiary of Alico Japan, a unit of American International Group Inc.
AIG loan will 'kill' the company - Greenberg
(BestWire) — The $85bn US federal loan designed to keep American International Group out of bankruptcy is actually “lose-lose for all concerned” and will kill the company, AIG’s former head told its current chief executive officer.
Beazley reports rise in GWP to £595.4m
Beazley Group has reported a 1% increase in gross written premium, up to £595.4m from £588.9m, as part of its interim results.
New fleet management product launched for SMEs
Fleet Operations, a fleet management consultancy, has launched Fleet Complete, a package aimed at small to medium-sized enterprises (SME) operating between 5-200 vehicles.
New fleet management product launched for SMEs
Fleet Operations, a fleet management consultancy, has launched Fleet Complete, a package aimed at small to medium-sized enterprises (SME) operating between 5-200 vehicles.
Argo outlines hurricane and investment losses
Bermuda-based Argo Group has estimated net losses from Hurricanes Gustav and Ike , including reinstatement premiums, will range from $50-70m (£29.5m-£41.3m) on a pre-tax basis.
Collins, Especializada Re enter into corresponding broker agreements
US-based (re)insurance broker Collins, and Brazil-based Especializada Re have entered into an agreement under which the two companies will serve as exclusive correspondent brokers for the placement of reinsurance for insurance companies based in Brazil.
Video: Xchanging CEO David Andrews on the challenges facing London
David Andrews, CEO of Xchanging talked to Anthony Gould, group editor in chief of Reinsurance and Post about the issues facing the Lloyd's and London market and how the insurance sector matches up to the rest of the troubled financial services industry…
Harbor Point Re UK confirms UK licence
Bermudian reinsurer Harbor Point Re has confirmed it has been granted a UK reinsurance licence by the UK regulator, the Financial Services Authority, as reported by Reinsurance .
Fortis UK to be "shielded" after insurance and banking sales
Fortis' UK insurance will be shielded from its parent's structured credit protfolio following a raft of recent sales.
RBS and Lloyds TSB back insurance acquisition
Catalina Holdings (Bermuda) which acquires and manages non-life insurance and reinsurance companies and portfolios in run-off, has just completed the acquisition of US-listed Quanta Capital Holdings with the assistance of the Royal Bank of Scotland and…
Former Aon director joins RSA to build global broker ties
RSA has today announced the appointment of Peter Jackson as its new group sales director.
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Lockton expands financial services team
US broker Lockton has expanded its financial solutions advisory team with the addition of two experts to advise Lockton's insurance clients on collateral, risk finance and credit issues.
Aspen expects investment returns to fall and reveals hurricanes exposure
Bermuda-based (re)insurer Aspen said that it is expects investment returns to fall by $47m if the investment environment continues to be as troubled as it has been over the last year.
Lancashire reveals hurricane hit but upbeat on investment returns
Lancashire Holdings, the specialist Bermudian insurer, said that it estimates that Hurricanes Gustav and Ike will have a combined net negative impact on its financial results of approximately $150m on its books.