News
Axis Capital sees profits fall
Axis Capital Holdings has reported a net income of $90.1m for the year ended 31 December 2005, compa...
Asian focus for new Lloyd's report
Lloyd's has released new research giving the insurance industry clear guidance on key developments i...
Misconduct investigations agreement
AIG settles with Spitzer, US Department of Justice and the SEC
Fitch issues revised AIG ratings in light of settlement
Fitch Ratings has said that its ratings on AIG and AIG subsidiaries, including American General Fina...
TRIA renewal is not a long-term solution, claims panel
The recent move by Congress to extend the Terrorism Risk Insurance Act (TRIA) did not provide the in...
US Grand Jury indicts ex-AIG executives by
A federal grand jury in Norfolk, Virginia, US has indicted three former senior executives of General...
Lloyd's in Central Fund legal action against brokers
Lloyd's has commenced legal action against brokers Aon and Benfield
XL Capital results hit by 2005 windstorms
XL Capital has reported a net loss of $821.9m for the quarter ended 31 December 2005, compared with ...
2005 hurricane season strengthens US property market
US property insurance rates increased sharply in the fourth quarter of 2005 following the devastatin...
Massive Wilma hit pushes RenRe to first-ever loss
Bermudian (re)insurer RenaissanceRe has reported a fourth-quarter net operating loss of $206.9m, due...
Why this 'weatherproof' market will be all-out soft before the year's end
Mark Geoghegan explains why he sees a soft market re-forming and accelerating beyond 2006
Converium restates past profits
Converium has announced that it has published restated financial information for the years between 1998 and 2004.
Flagstone finalises start-up capital at $715m
Class of 2005 Bermudian start-up reinsurer Flagstone Re has announced today that it has completed its initial capitalisation of more than $715m through a private placement of equity.
Axa GI revenues stuck at 2004 levels
AXA UK has reported 23% growth in underlying earnings to £266m in 2005 for its combined life, health and general insurance business.
Willis recruits Clegg Gifford to network
The Willis Commercial Network has recruited another member, Clegg Gifford and Co of Romford, Essex.
RBSI reports NIG up 10% in SME in 2005
Royal Bank of Scotland Insurance saw its income increase 8% to 5489m pounds in 2005, with a 1% drop in household policies countered by a 4%increase in motor and 10% in SME commercial.
Chaucer windstorm losses show no change
Lloyd's insurer Chaucer has forecast its 2005 performance range will be between a 5% loss and 5% profit, despite last year's major windstorm activity. The company, which manages syndicate 1084 and nuclear syndicate 1176 today gave an update on current…
Fitch withdraws Indy's DD rating
Fitch Ratings has affirmed UK-based Independent Insurance Company Ltd's 'DD' Insurer Financial Strength rating and simultaneously withdrawn the rating due to a lack of sufficient information to maintain a rating.
Swiss Re EGM finalises GEIS purchase
An Extraordinary General Meeting of Swiss Re shareholders has approved the company’s creation of additional equity capital related to the financing of the GE Insurance Solutions acquisition.
Board changes at Montpelier Re
Montpelier Re Holdings has announced that John D. Gillespie, Kamil M. Salame and William L. Spiegel have advised the Company of their intention to resign as members of the Board of Directors with effect from the conclusion of the 2006 Annual General…
Fitch rates Taiwanese insurer Nan Shan
Fitch Ratings has assigned a National Insurer Financial Strength rating of 'AA+' to Taiwan-based Nan Shan Life Insurance. The outlook for the rating is Stable.
IIB calls for a fundamental review of serious FOS and FSCS issues
The Institute of Insurance Brokers has responded to the Financial Services Authority’s latest consultation document on the subject of Compensation Scheme and Ombudsman Service Limits by calling for a number of serious issues to be properly addressed,…
Hyperion Insurance completes equity placing
Hyperion Insurance Group has successfully completed an equity placing with venture capital provider BP Marsh, which raised £5.1m of new capital to fund its ongoing growth plan. BP Marsh's holding in Hyperion, as at 31 July 2005, is £8m.
TUC launches Action Mesothelioma Day
The Trades Union Congress has launched Action Mesothelioma Day, with an awareness campaign to highlight the dangers of asbestos it claims could still be lurking in up to 1.5 million shops, factories and offices across the UK.