News
Glacier Re poaches senior underwriter from Swiss Re
European reinsurer Glacier Re has appointed Mario Ciancarelli as Senior Underwriter with immediate effect.
Arista to launch Arag legal expenses lines
Arista Insurance, the new commercial lines insurer launched earlier in the year by Charles Earle, has signed an agreement with Arag Group to provide Arista with a legal expenses insurance product.
Heritage underwriting director joins from Lloyd's Japan
Heritage Underwriting Agency has appointed James Sardeson as Underwriting Director. Mr Sardeson will join the group's board and he will also become a member of the group executive.
Equity sells to Australian giant in £570m deal
Equity Insurance Group today announced that it is to be acquired by Insurance Australia Group for a total consideration of £570 million, the deal is subject to regulatory approval.
Zenith appoints group HR manager
Zenith Services UK has appointed Susan McGuire as group HR general manager.
Jelf buys in Plymouth
Bristol-based the Jelf Group has acquired independent commercial insurance brokerage Haines Wallace. The deal is expected to add £4.5m to the group’s premium income.
AWAC gets box at Lloyd’s
Bermudian (re)insurer Allied World Assurance Company (AWAC) has opened a box on the second gallery of the at Lloyd’s building.
Benfield in bumper $19.5m Lancashire pay-day
Reinsurance broker Benfield has pocketed $19.5m from the sale of warrants in class of 2005 Bermudian start-up (re)insurer
Aspen in $156m share buyback, as founders lighten holdings
Bermudian (re)insurer Aspen has announced it will by back $156m-worth of its ordinary shares from two of its founding shareholders, the Blackstone Group and CSFB Private Equity.
Claims management regulation website launched
The new regulatory body for the claims management sector, headed by Mark Boleat, is now live. Go to http://www.claimsregulation.gov.uk/ now to apply for authorisation via the Department for Constitutional Affairs.
Ace: Environmental warning
Ace European Group has warned that UK businesses are exposing themselves to unnecessary environmental liability risks. The insurer said too many companies continued to view specialist insurance products as too expensive and overly complicated; and had a…
Wilbur Ross strikes major Lloyd's deal
Hiscox today announced that in order to take advantage of strong underwriting opportunities, Hiscox Syndicate 33 has entered into a Quota Share reinsurance arrangement with Panther Re Bermuda, the $360m Bermuda reinsurance company newly formed by WL Ross…
Mixed response to Scottish Re rescue
Troubled life reinsurer Scottish Re has announced a $600m equity infusion to stave off its liquidity...
Kiln buys into Asia in Hong Kong move
Lloyd's (re)insurer Kiln has bought the Hong Kong-based underwriting agency, International Reinsuran...
XL subsidiary hit with subpoena in NY investigation
In a regulatory filing, Bermudian (re)insurer XL Capital has admitted that one of its subsidiaries h...
OIL to lose nine shareholders at 1/1
Bermuda-based oil industry mutual group, Oil Insurance Limited (OIL) has announced that nine of its ...
Guy Carpenter and Amlin stake bid for first London paper-less claim
Reinsurance broker Guy Carpenter and Lloyd's (re)insurer Amlin say they have completed the London Ma...
Glacier Re launches new insurance arm from Liechtenstein
Glacier Re, the Swiss-based reinsurer founded in late 2004, has revealed that it has started a direc...
AXA first insurer to securitise life catastrophe covers
Swiss Re announced that it has placed securities worth $442m to cover catastrophe mortality experien...
London Market heralds creation of market repository
In the latest step in its drive to promote business processing efficiency in the London Market, the ...
RenRe risk appetite achieves 'stellar' third-quarter result
Renaissance Re has reported a net income of $251.1m in the third quarter of 2006, compared to a net ...
Don't diversify just for the sake of it!
Mark Geoghegan is inspired by one rating agency's proactive approach to the thorny issue of diversification credits for (re)insurers
PXRE expense ratio tops 200%
Troubled Bermudian reinsurer PXRE has announced results for the third quarter showing net income of ...
Flagstone in $175m New York IPO, Europe expansion
Class of 2005 Bermudian reinsurer Flagstone Re has filed with the Securities and Exchange Commission...