News
Flagstone Re to buy 29.9% of Alliance Re
Flagstone Re has said that it has agreed to buy up to 29.9% of Cyprus-domiciled specialist property ...
US P&C has another solid year in 2007
A strong fourth quarter capped another solid year for the US property and casualty industry, but yea...
Meritz Fire ready for hostile takeover
South Korea's Meritz Fire and Marine Insurance is looking to acquire another nonlife insurer, First ...
Subprime cases surge in first quarter
Navigant Consulting has said the number of subprime-related cases filed in federal courts surged in ...
Space claims set to reach $835m
Space claims are estimated to reach $835m for 2007, prompting insurers to re-assess their premium ra...
US property and casualty Cat losses hit $3.5bn for Q1
US property and casualty insurers are expected to pay out nearly $3.5bn for first quarter losses fol...
Chartwell Group launches healthcare
Chartwell Group, the Independent Financial Advisor and broker firm, has launched of Chartwell Healthcare.
ABI calls for action on surface water floods
The Association of British Insurers has called for action to reduce the growing problem of surface water flooding.
AIG UK recruits for its Private Client Group
AIG UK has appointed Charl Bouwer to its Private Client Group as development underwriter.
Post Pick of the Week
Post online and supplements editor Stephanie Denton looks at the week's major general insurance news including the news intermediaries are up in arms over AIG blacklisting Cuba for travelers; Towergate back on the acquisition trail after Candover and…
Novae launches new D&O cover to coincide with changes in law
Novae has launched a new directors’ and officers’ liability policy to coincide with changes in the law relating to deaths in the workplace.
Novae Insurance appoints motor underwriter
Novae Insurance Company has appointed Andy Chesters as unit head of its new motor fleet division.
Airmic launches benchmarking survey
The Association of Insurance and Risk Managers and Advisen, a provider of benchmarking services, have launched a new initiative to provide programme benchmarking to buyers of insurance in the UK.
Aon’s Bill Gloyn to chair City Property Association
Aon's chairman of real estate Europe in Aon’s mergers and acquisitions Group, Bill Gloyn, has become the first insurance professional to be elected as president of the City Property Association.
Market volatility hammers Ace's Q1 net income
Ace, the Bermudian (re)insurer, reported a 46% drop in net income due to credit market volatility.
Arc Legal Assistance extends tenant scheme
Arc Legal Assistance has extended its contract to provide professional fees cover to Mydeposits, formally known as Tenancy Deposit Solutions, following the success of the scheme set up as a result of government legislation to protect tenants in dispute…
Tornadoes hit Virginia, US
According to catastrophe risk modeling firm AIR Worldwide, three tornadoes carved a 25-mile track of destruction through southeastern Virginia yesterday, gutting homes, tossing cars, and injuring more than 200 local residents.
RenRe Q1 net income drops 28%
RenaissanceRe, the Bermudian (re)insurer, reported that net income fell 28% to $137.2m in the first quarter of 2008, down from $190.8m in the same quarter of 2007.
JLT Q1 investment income hit by US rates
Jardine Lloyd Thompson has admitted US interest rates will have a negative impact on its investment portfolio in 2008.
Montpelier Re Q1 net income plunges
Montpelier Re, the Bermudian (re)insurer, reported that first quarter net income plunged to just £0.3m from £73.3m in the first three months of 2007 after losses from key commercial properties came through.
Lancashire approves repurchase programme
Lancashire Holdings has approved a share repurchase programme after announcing its results for the three month period ending 31 March 2008.
Gen Re makes Cholnoky president
General Re Corporation, a subsidiary of financial services giant Berkshire Hathaway, has appointed John Cholnoky has been promoted to President of General Reinsurance Corporation and Manager of Gen Re’s global direct Property and Casualty operations. Mr…
Worst Q1 US Cat losses in a decade - PCS
U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.35bn for first-quarter property losses resulting from nine catastrophes, according to US industry body PCS.
A Plan MBO backed by major bank
A Plan Insurance, the high street broker, has chosen Barclays Private Equity to be its partner in a management buy out that sees 32% of the equity pass to the A Plan management team.