News
Arch affirmed by AM Best
AM Best has affirmed the financial strength rating of A- (Excellent) for Bermudian (re)insurer Arch with a stable outlook.
Endurance 1Q solid but top line falls, KRW reserves up by 4%
Bermudian (re)insurer Endurance increased its reserves for net claims from hurricanes Katrina, Rita and Wilma by $35m or approximately 4% in the first quarter of 2006. However, the increases were offset by favourable 2005 accident year reserve…
Crawford appoints customer service head for building services
Crawford & Company is pleased to announce that Alison McKinna has been appointed as customer services manager within its national building services unit.
CCR posts solid 2005 results
French State reinsurer CCR's gross premium income was €1,297.9m in 2005 versus €1,307.7m in 2004. Net profit for the year rose by 22% to €125m (€102m in 2004).
Max Re Q1 2006 results depend on investigation
Max Re Capital has tentatively announced its results for the first quarter of 2006, stressing that the final results depend on the outcome of an ongoing investigation by the audit and risk management committee of its board of directors.
FSA awarded training accreditation
The Financial Services Authority has received two accreditation awards from the Financial Services Skills Council. The FSA’s corporate learning section has been awarded Accreditation of Training Excellence for Firms and its industry training team has…
Half of insurers ready for Solvency II
The majority of European insurers believe that Solvency II will improve their companies’ risk and capital management functions, and half have already enacted formal programmes to address the proposed European Union directive, according to results of a…
Former Aon director joins Howden
Neil Bullivant has joined Howden as operations manager from Aon.
CSC to cut 4300 European jobs
Insurance software specialist Computer Sciences Corporation (CSC) is set to shed 4300 jobs - mainly ...
Omega joins class of 2005 on A- rating
AM Best has assigned a financial strength rating of A- (excellent) and an issuer credit rating (ICR)...
Improved hurricane-strength index published
Carvill's ReAdvisory group, a reinsurance intermediary, has published a paper detailing a new index ...
Odyssey Re admits weakness after finite restatement
In a delayed filing of its 2005 annual report, global reinsurer Odyssey Re has admitted it "did not ...
Europe stabilises, claims S&P report
European insurance sector ratings are predominantly stable, claims a report by Standard & Poor's (S&...
PXRE ratings lowered then withdrawn
Standard & Poor's (S&P) has lowered its counterparty credit ratings on PXRE Group and PXRE Corporati...
S&P says majority of class of 2005 not 'A' quality
Standard & Poor's (S&)P has entered the debate on the credit quality of the class of 2005 reinsuranc...
Alea results show £102m loss
Reinsurer Alea has announced its full-year 2005 results and provided an update on its run-off strate...
AIG plans sale of 24% stake in IPC
Bermudian reinsurer IPC has announced that AIG has given notice of its intention to sell up to 15.39...
Glacier Re obtains licence for Mexico
Glacier Reinsurance has announced that it has received a licence to write reinsurance business in Me...
RAM Re files for $200m Nasdaq IPO
Ram Holdings, the parent company of Bermudian financial guarantee proportional reinsurer RAM Re, has...
Lloyd's reports £103m loss for 2005
Lloyd's has reported a loss of £103m for 2005, down on the £1367m profit it made in 2004. It also an...
Benfield and Merrill Lynch cat bond link
Benfield has formed a relationship with Merrill Lynch to offer insurers and reinsurers catastrophe (...
G6 agrees electronic transfer
The G6 group of Lloyd's managing agents has agreed to a new process using Acord data standards. The ...
Stone Point swoops for Axa Re
French-based global insurer Axa has confirmed that (re)insurance venture capital-fund manager Stone ...
Tower confirms CastlePoint Re Bermuda start-up details
US property/casualty insurer Tower Group has entered into a strategic relationship with CastlePoint ...