Reinsurance
Hats off for British bureaucracy
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Carvill claims $60m derivatives traded on its CME contracts
Reinsurance broker Carvill has said that trading its Carvill Hurricane Index (CHI) contracts continu...
Torus takes Munich Re's construction team - sources
New energy Torus has boosted its construction reinsurance book after taking four of Munich Re's cons...
Florida officals clear way for Berkshire Hathaway deal
(BestWire) — Florida officials have cleared the way with a second vote for the Sunshine State to pay Warren Buffett's Berkshire Hathaway $224 million now in return for the company's promise to buy $4 billion in state bonds should a hurricane cause major…
Aspen Insurance Holdings Q2 net income up 11%
Aspen Insurance Holdings, the Bermudian (re)insurer, said that second quarter net income rose 11% to $126.9m from $114.7m this time last year.
Arch announces figures
Arch Capital said that second quarter net income fell to $192.3m (£96.9m) from $199.4m in 2007. Firs...
What the papers said this week
Sunday Mercury Businesses wrecked by last summer's devastating floods are risking bankruptcy - be...
Willis contingency call
Willis claims the insurance industry has failed to reform the practice of contingent commission paym...
Sons and daughters
When Insurance Australia Group sat down in 2006 and decided a well-known telebroker headquartered in...
Less than $100m of claims expected from LA earthquake - report
Ratings agencies are not expecting a deluge of claims to the (re)insurance industry stemming from the earthquake which hit Los Angeles earlier this week should not cause a market loss of $100m, says a report from Guy Carpenter, quoting Eqecat.
XL prices share, equity security offering
XL Capital, the Bermudian (re)insurer, said that it has agreed to sell 125m ordinary shares (plus up to an additional 18.75m shares issuable upon exercise of the underwriters’ option to purchase additional shares) pursuant to the company’s shelf…
Fitch upgrades Transsib Re's IFS rating to 'BB-'
Fitch Ratings has today upgraded Russian (re)insurer Transsiberian Reinsurance Corporation's (Transsib Re) international insurer financial strength rating to 'BB-' (BB minus) from 'B+' and National IFS rating to 'A+(rus)' from 'A-(A minus)(rus)'. The…
Willis takes a swipe at broking rivals
Willis claims the insurance industry has failed on its own to reform the practice of contingent commission payments to brokers and said regulators must finish the job begun by former US Attorney General Eliot Spitzer in 2004.
British Insurance Awards 2008
Over 1800 of the great and good attended the British Insurance Awards in July at the Royal Albert Hall.
Integro takes senior broker Blick from GC Fac
Global broker Integro has taken on senior facultative broker Ian Blick from Guy Carpenter.
Carvill releases Dolly contract settlement value
Reinsurance broker Carvill has released a settlement value for its Carvill Hurricane Index (CHI) contracts after Hurrican Dolly made landfall in Texas on 23rd July.
IPC Holdings Q2 net income nearly doubles
IPC Holdings, the Bermudian (re)insurer, said that second quarter results for the last three months of the year to end-June nearly doubled to $47.5m from $27.9m.
Transatlantic Q2 net income falls, led by $60m subprime writedowns
Transatlantic Holdings said second quarter net income fell $89.7m, compared to $125.7m, in the second quarter of 2007, led by nearly $60m of subprime writedowns.
Appointment at Ironshore
Bob Piller has joined Ironshore as president of casualty facility Ironselect. He career history incl...
Aegis London strengthens team
Aegis London has made two appointments to newly created roles within the company.
Montpelier first half net income drops 64%; Q2 off 13%
Montpelier Re, the Bermudian (re)insurer, said that first half net income dropped 64% compared to 2007.
Arch Europe seen as destination for Heritage senior staff
Arch Europe has been rumoured as being the destination for Heritage’s newly-departed senior staff, Reinsurance Magazine can reveal.
Guy Carpenter appoints new CEO for Italy
Guy Carpenter & Company, the reinsurance broking arm of Marsh & McLennan, said that it has appointed Massimo Reina as CEO of Guy Carpenter Srl, Milan, with responsibilities for the Italian territory.
Guy Carp: prices 10-20% down at 1/7
Excess capital has caused soft market conditions to persist at July property and casualty reinsurance renewals, according to a briefing released by reinsurance broker Guy Carpenter.