News
Amlin in investment management joint venture poaches Swiss Re execs
Amlin, the Lloyd's (re)insurer, said it will form an investment management joint venture specialising in managing funds in traded insurance risk.
Swiss Re in further Q1 $778m credit write-down, shares hammered
Global reinsurer Swiss Re has reported an additional mark-to-market loss of CHF819m ($778m) on its portfolio of structured credit default swaps in the first quarter of 2008 and has penciled in a further charge of CHF200m ($190m) sustained during the…
Flagstone Re Q1 net income drops nearly 8%
Flagstone Re, the Bermudian (re)insurer, said that net income for the first quarter of the year fell to $32.9m from to $35.6m on diminishing investment returns.
Hannover Re Q1 net income soars 23%
Hannover Re said that first quarter net income rose nearly 23% to €151.5m, up from €123.5m this time a year ago.
Aon launches Asia desk
Aon Global has launched an Asia desk in London, which will be headed up by Clemens Philippi.
Kwik-Fit and SSP in electronic delivery of motor certificates
Kwik-Fit Insurance claims to have become the first insurance provider to purchase SSP’s secure electronic delivery solution, SDX, in order to improve customer service and cut fulfilment costs.
Heath Lambert appoints strategic development director
Jim Lorimer has been appointed strategic development director for Health Lambert Insurance Services, in addition to his existing position as chief information officer for the group as a whole.
Grant promoted to group executive at RMS
Matthew Grant has been appointed group executive of global client development at Risk Management Consulting.
Hiscox appoints Michael Gould as new COO
Hiscox has announced the appointment of Michael Gould to the role of chief operating officer, effective 9 June 2008.
Arch Europe names Weatherstone as new chairman and CEO
Arch Europe, the European arm of Bermudian (re)insurer Arch, said it has appointed James Weatherstone as its president and chief executive. Current Arch Europe chief executive Robert Van Gieson will become its chairman.
IFEX lists 2nd event US storm contracts, hints at possible 3rd event market
Catastrophe futures exchange IFEX has announced that announce that the Chicago Climate Futures Exchange (CCFE)will list IFEX 'Second Event’ US Tropical Wind Event Linked Futures from today.
FOS name and shame will not be welcomed says Eversheds
The much anticipated Financial Ombudsman Service review, published by Lord Hunt, has taken steps to address concerns on complaints handling. However, recommendations to introduce a name and shame system will not be welcomed by financial institutions,…
Kennedys promotes six to partnership
City law firm Kennedys, has promoted six senior assistants to its partnership, five to its UK practice and one to its Hong Kong practice.
Solaglas Windowcare invests in its vehicle fleet
Emergency glazing repair and replacement company Solaglas Windowcare has announced it intends to replace its entire vehicle fleet, as part of an ongoing expansion programme.
Endurance sees reinsurance premiums down a third in Q1
Bermudian (re)insurer Endurance saw net premiums written of $640m .6m in the first quarter of 2008, an increase of 20% over the same period a year earlier as the agricultural premiums written in the insurance segment by recently acquired agricultural…
DAC boost sinsurance team with hire from competitor
International law firm Davies Arnold Cooper has boosted its insurance practice with the hiring of partner Hermes Marangos from Clyde and Co.
Validus Q1 net income jumps on Talbot addition
Validus, the Bermudian (re)insurer reported net income for the quarter ended 31 March, 2008 rose to $66.5m, compared with $56.7m, for the quarter ended 31 March, 2007.
Groupama achieves highest Investors in People award
Investors in People has awarded Groupama Insurances the highest standards across many areas of evaluation under the new IIP accreditation framework.
DAS launches web-based household law system
DAS Legal Expenses Insurance Company has launched a new web-based service that will give policyholders free access to what it claims is a wealth of legal information and document building tools.
Odyssey Re Q1 jumps
Odyssey Re, the US reinsurer, said first quarter net income shot up to $249.0m, compared to $86.6m, for the quarter ended March 31, 2007.
Heads roll at XL Capital Assurance
SCA has announced that XL Capital Assurance, SCA's wholly owned financial guarantee insurance subsidiary, has named Adam Bergonzi, 44, as chief credit officer effective immediately.
Aon Q1 net income rises 2%
Aon Corporation, one of the world's biggest brokers, said net income increased 2% to $218m, compared to $213m for the prior year quarter.
Travelers tipped for NIG as AIG stalls
Travelers has emerged as one of the frontrunners for NIG, Post understands.
Willis appoints Lane to board of directors
Willis Group Holdings has appointed Jeffrey Lane to its board of directors and as a member of the compensation committee.