United States of America (USA)
Insurers and reinsurers need to be aware of the third party liability climate change lawsuits
Kyle Danish, partner at law firm Van Ness Feldman, told delegates at the World Insurance Forum in Bermuda today, that they need to be aware of lawsuits currently in the early stages of litigation in the US.
LIU Europe expands into Birmingham
Liberty International Underwriters Europe has expanded its regional operation into Birmingham with the appointment of Dave Canning as regional senior underwriter.
World Trade Centre captive reaches $657m settlement for worker claims
WTC Captive Insurance, a victims’ fund set up after the September 11th terrorist attacks, reached a settlement of as much as $657m with 10,000 workers claiming respiratory illness stemming from rescue and recovery efforts at the site.
Omega claims gains elsewhere offset Lloyd's reduction
The group's gross premium income remained almost static on US$265.8m (2008: US$265.4m), although Omega claimed to nhave seen "significant growth in new operating platforms in Bermuda and US".
Bolt warns underwriters of claims increase
Lloyd's recently appointed director of performance management Tom Bolt has warned underwriters to prepare for an increase in claims from financial institutions.
Obama launches fresh attack on health insurers
President Barack Obama launched a fresh attack on health insurers in a speech on Monday and called on fellow Democrats to rise above politics and pass a healthcare overhaul in the next few weeks.
Marsh to take $600m hit on Kroll disposal
The Financial Times reports The Carlyle Group, Apax Partners and General Atlantic have all entered bids by the deadline for first expressions of interest in late February.
New US sanctions on Iran put the industry on high alert
The US bill to expand the Iran Sanctions Act is being watched keenly by the (re)insurance world, reports Katherine Blackler
AIG to sell non-US life unit to MetLife
AIG’s board of directors approved the sale of the division to MetLife on March 5th, according to newswire Bloomberg.
AIG to sell remaining stake in Transatlantic
Troubled American insurance giant AIG is to sell its remaining stake in Transatlantic as part of its sell-off programme that saw the insurer announce the sale of its Asian unit AIA to Prudential this week.
Corporate tax cut in New York proposed by NYIE - Wrynn
The New York Insurance Exchange may seek lower federal corporate tax to enhance its appeal, according to the Insurance Superintendent
Harbor Point and Max Capital confirm merger
Bermudian reinsurers Max Capital and Harbor Point have confirmed their merger.
Ex-Towergate boss to target US market
British Insurance founder Simon Burgess has left the Towergate-owned company to set up an income protection insurance firm in the US.
Liberty Mutual reports mixed earnings
Liberty Mutual, the US (re)insurance giant, reported a mixed set of earnings for the fourth quarter and in 2009.
Tower Group net income doubles
Tower Group, the US insurer, said that net income for the fourth quarter of 2009 doubled.
Russia to support Iran sanctions
Russian president Dmitry Medvedev has said that he still hopes to avoid new punitive measures, but added Russia could not wait forever for cooperation by Tehran.
Berkshire Hathaway net income jumps
Berkshire Hathaway's fourth quarter and yearly net income increased.
AIG confirms AIA sale to Prudential
AIG has confirmed the sale of its AIA unit to Prudential for $35.5bn.
Strong London market performance helps Hiscox treble profits
Hiscox has reported gross premiums written £1.44bn (2008: £1.15bn) and pre-tax profit of £320.6m (£105.2m).
Strong London market performance helps Hiscox treble profits
Hiscox has reported gross premiums written £1.44bn (2008: £1.15bn) and pre-tax profit of £320.6m (£105.2m).
AIG shares down 8% after reporting heavy losses
Shares in AIG were down 8% in mid-morning trade on the New York Stock Exchange after the beleagured insurer reported a net loss of $8.9bn in the fourth quarter of 2009.
Biba welcomes NY broker commission stance
The British Insurance Brokers' Association has welcomed the decision by US insurance officials to allow three major brokers to resume accepting contingent commission, bringing legislation more in line with the UK.
Endurance's top shareholder wants merger
Endurance has been told that it should consider a merger with one of its (re)insurance rivals, one of the company's largest shareholders has told the company's management.
Guy Carpenter COO to leave company- sources
Another senior member of Guy Carpenter's executive committee has resigned from the broker, Reinsurance has learned.