United States of America (USA)
Senior executive leaves Allied World
One of Allied World's senior international property underwriters has left the Bermudian (re)insurer, Reinsurance has learned.
New US health bill will regulate health insurers
Barack Obama's new health bill will regulate health insurers but seek to be more moderate in a number of other ways.
Another quake hits Haiti
A mild 4.7 magnitude earthquake hit Haiti today 20 miles west of Port-au-Prince, the US Geological Survey reported.
Torus receives $185m capital injection
$150m of the additional financing to be provided by private equity firm Corsair Capital
Fairfax acquires Zenith
Fairfax, the acquisitive financial holdings company, has bought US workers compensation insurer Zenith for $1.4bn.
Partner Re Global chairman retires
Bruno Meyenhofer, the chairman of PartnerRe Global, has advised the company of his decision to retire at the end of March.
LeStrange to retire from Endurance CEO position
Founder of the (re)insurer Kenneth LeStrange will retire as the CEO from March but remain as chairman until March 2011.
Rims “dismayed” at contingent commissions decision
The Risk and Management Society has expressed its dismay at the New York Insurance Department and Attorney General’s decision to allow brokers Aon, Willis and Marsh to accept contingent commissions.
Swiss Re says capital position "fully restored"
Swiss Re said that it has excess capital of 9bn CHF at 'AA' ratings level, and added that its capital position is 'fully restored'.
Haiti reconstruction could cost $14bn
Study from the Inter-American Development Bank claims Haiti earthquake more destructive than any modern natural disaster.
Flagstone Re's reports profits improvement
Flagstone Re's fourth quarter and 2009 results improved, the company said on Wednesday.
Montpelier continues Bermuda's upward trend
Montpelier continued a postive trend for Bermudian (re)insurers by recording a sharp return to profit in its fourth quarter and 2009 results.
Divisional head leaves Lockton
One of Lockton's senior brokers has left the privately-owned broker, sources have told Reinsurance.
Bermudan market continues to grow
The Bermuda Monetary Authority reported today that the Bermuda insurance market continued to record strong performance, against the backdrop of a prolonged soft market and the effects of the worst financial crisis in a generation.
Willis reiterates commissions stance
Willis chief executive Joe Plumeri has reaffirmed that the broking giant will not go back on its decision to abolish contingent commission.
US winter storms estimated to cost $2bn
Catastrophe risk modeling firm Eqecat said Friday afternoon (eastern time) that it estimates insured losses resulting from two February winter storms in the eastern United States will exceed $2bn, based on a preliminary assessment.
Allied World reports record 2009 profits
Allied World reported said that net income for the year ended December 31, 2009 was a record $606.9m, or $11.67 per diluted share, compared to net income of $183.6m, or $3.59 per diluted share, for the year ended December 31, 2008.
Paris Re CEO leaves as PartnerRe cleans house
Paris Re CEO Hans-Peter Gerhardt has left the company in a clean-out of senior staff by Partner Re following last year's takeover by the Bermudian (re)insurer.
Axis grabs senior staff from GCube to start renewable energy team
Axis Capital has started a renewable energy insurance team, the company said in a statement.
Allstate in earnings turnaround
Allstate said that fourth quarter and yearly net income jumped.
Everest Re shrugs off 2008 with strong 2009
Everest Re shrugged off a horrible 2008 to rebound strongly in 2009.
Partner Re's net income rises to $1.5bn
PartnerRe reported net income was $1.5bn, or $23.51 per share, up from $46.6m, or $0.22 per share in 2008.
Transatlantic Re's earnings climb
Transatlantic Re becaome the latest US insurer to report improved earnings.
New York regulators impose agent pay disclosure
The New York State Insurance Department has imposed a law that will force agents to disclose how much they are paid to clients.