News
JLT Re starts up
Jardine Lloyd Thompson Group has announced that JLT Re commenced trading on 1 January 2006. JLT Rei...
XL Capital denies O'Hara claims
XL Capital has denied reports that chief executive Brian O'Hara is under pressure to resign from his...
Aon UK to close several offices
Aon UK has completed a review of its regional property portfolio and has announced that it will be c...
Benfield issues update predicting future reinsurance capacity
Benfield Group has issued an update on current market conditions and provisional comments on the tra...
Aon's new political risk map highlights 23 dangerous countries
Investors will not be trading in a safer world in 2006, despite twice as many countries experiencing...
Lloyd's Lord Levene calls for end to trade barriers post-Katrina
Barriers to trade must be removed to permit foreign reinsurers to lend more support in the event of ...
Fitch warns of German new business slowdown
Fitch Ratings has warned of the consequences of an ongoing reduction in new business of German life ...
Catlin Group revises hurricane losses
Catlin Group has completed its initial estimate of losses arising from Hurricane Wilma, and has revi...
Lloyd's raises upper disaster limit
Lloyd's of London has raised the upper limit on a string of Realistic Disaster Scenarios (RDS) for t...
Senate passes TRIA extension bill
In a unanimous consent vote, the US Senate has passed the Shelby/Dodd TRIA extension compromise bill...
Spitzer releases report on 'Hank' Greenberg allegations
New York attorney general Eliot Spitzer has released a formal report on the alleged abuses carried o...
DIMA denies lobbying against EU standards
The Dublin International Insurance & Management Association (DIMA) has rejected claims that it has l...
NY attorney general strikes again
New York attorney general Eliot Spitzer and Insurance Superintendent Howard Mills have announced an ...
The market divide sees 'Old Europe' come into its own
Mark Geoghegan sees the wily old guard of reinsurance running strategic rings around the opposition in 2006
Takaful Re starts operations at DIFC
Takaful Re has been licensed by Dubai Financial Services Authority (DFSA) to operate from the Dubai ...
Ratings and capital round-up
The end of 2005 and the start of 2006 were busy times for the reinsurance market, as it coped with a...
AM Best points to UK growth for SVB
A.M. Best has assigned a syndicate rating of A (Excellent) and an issuer credit rating (ICR) of “a” to Lloyd’s Syndicate 2147, which is managed by SVB Syndicates.
Validus Re hits the ground running
New Bermudian reinsurer Validus Re has announced that it has bound business representing gross written premiums of $220m after just over a month of operations.
Claimant lawyers call for central liability database
Lawyers are calling on the Government to get tough on insurers, following a report which revealed the number of industrial disease victims able to trace their employers’ insurance policies has plummeted.
Hurricanes and 12.3% premium drop plunge Everest $218m in red in 2005
A 12.3% drop in net premiums combined with massive fourth-quarter hurricane losses have forced Bermudian (re)insurer Everest Re to report a combined ratio of 120% and a 3.1% fall in shareholders’ funds for 2005.
XL in China and Brazil moves
XL Capital Ltd has announced today that it has opened a representative office in Beijing and is to start an insurance joint venture in Brazil with Banco Itaú.
Steady growth over 2005 for eReinsure
eReinsure.com, which provides e-commerce technology to the insurance and reinsurance industries, has announced that it had a good 2005.
PartnerRe renewals -2% due to higher retentions
Bermudian (re)insurer PartnerRe has revealed that during the January 1 renewal season it had written and bound approximately $1.79bn of estimated Non-Life premium, 2% less than total renewable expiring premium of $1.83bn.
AM Best downgrades and withdraws Alea ratings
AM Best has downgraded the financial strength rating to B (Fair) from B++ (Very Good) and the issuer credit rating to “bb” from “bbb” of the insurance and reinsurance operating subsidiaries of Alea Group Holdings (Bermuda).