Reinsurance
AM Best turns positive on Hannover Re
Ratings agency AM Best has affirmed Hannover Re’s financial strength rating of A and upped the rating's outlook to positive from stable. Best also has upgraded the firm’s issuer credit rating (ICR) to “a+” from “a”.
Swiss Re hit by $9.6bn holding of Fannie and Freddie debt
(BestWire) — reinsurance giant Swiss Re has disclosed it owns roughly $9.6 billion of corporate debt from troubled US government-backed mortgage lenders Freddie Mac and Fannie Mae.
Partners buy GAUM share
Munich Re and Berkshire Hathaway are to buy Scor's share of aerospace underwriter Global Aerospace U...
Levene meets Crist in London
Lloyd's chairman Lord Levene and governor of Florida Charlie Crist met in London on Tuesday as part of the Florida's trade and business development mission to the UK.
Munich Re, Berkshire Hathaway to buy GAUM after EU clearance
Munich Re and Berkshire Hathaway are to buy Scor’s share of aerospace underwriter Global Aerospace Underwriting Managers (GAUM) after getting European Union clearance to do the deal.
Carvill claims $60m derivatives traded on its CME contracts
Reinsurance broker Carvill has said that trading its Carvill Hurricane Index (CHI) contracts continues to grow on the Chicago Mercantile Exchange (CME) and the nominal value of derivatives traded has nearly hit $60m.
Willis appoints MD to drive strategic carrier relationships
Willis Group Holdings has appointed Jonathan Prinn as managing director of strategic carrier relationships, a key role in driving the company’s 'Shaping our Future' growth strategy.
Florida Senator Blames RAA for Failure of State Cat Fund Resolution
(BESTWIRE) -- In his last meeting with the National Conference of Insurance Legislators, Florida State Senator Steven Geller failed to get a catastrophe fund and federal disaster assistance resolution passed – a resolution in which the senator said he…
IFEX to add Florida and Gulf coast contracts
Cat futures firm IFEX has announce that the Chicago Climate Futures Exchange (CCFE) will list Florida and US Gulf Coast tropical wind event linked futures from July 11.
Beerli to retire as Swiss Re makes senior board moves
Swiss Re's has appointed Stefan Lippe as deputy CEO, with the function of chief operating officer, with effect 1 September 2008. The firm's board of directors has also appointed Brian Gray to become chief underwriting officer and member of the executive…
Swiss Re board room shuffle
Swiss Re's has appointed Stefan Lippe as deputy CEO, assuming the function of chief operating officer, effective 1 September 2008.
Four leave Heritage in wake of Argo deal
Heritage saw four of its senior staff resign from the company on 4 July, sources have told Post's si...
Un-break my heart
York SLA/Axis
Aon Re Global takes managing director from Guy Carpenter - source
Aon Re Global has brought in former senior Guy Carpenter figure Christer Pehrson to manage its Europe-based global client base, Reinsurance has learned.
Heritage underwriters resign
A group of senior staff at Heritage has resigned from the company on Friday 4th July, sources have told Insurance Age and sister magazine, Reinsurance .
Retro demand drives price spike- source
Retrocessional reinsurance pricing is bucking the general softening trend of the (re)insurance market, Reinsurance has learned.
Ironshore starts new excess casualty facilty; hires Piller as president
Ironshore, the Bermudian insurer, said that it has started IronSelect, an excess casualty facility.
Harbor Point applies for FSA branch license - sources
Class of 2005 Bermudian and US reinsurer Harbor Point has applied to the Financial Sercvices Authority for a branch license for Harbor Point Re UK, it's London representative office, Reinsurance understands.
Florida to pay Buffett $224m for $4bn bond option - reports
Florida politicians have turned to Warren Buffett in a deal which will see Berkshire Hathaway commit to buying $4bn in bonds issued by the Florida Hurricane Catastrophe Fund should claims hit more than $25bn this hurricane season, various reports from…
Ariel poaches senior property reinsurance underwriter from Arch
Ariel Re said that it has managed to secure the services of US property reinsurance underwriter Myles Orchard, who comes across from Bermudian reinsurance rival Arch Re.
Ariel Re appoints new chairman
Bermudian reinsurer Ariel Re has appointed George Rivaz as its chairman, while appointing Tom Hulst as his successor as president of the company.
Appointment at Watson Wyatt
Watson Wyatt has appointed Kirsty Gray as a senior consultant in its business development and client...
NFU recruits first CEO outsider in 98 years
NFU Mutual has looked beyond its own ranks for its new chief executive officer for the first time in...
York adjusting boss hints at full Axis acquisition
US claims giant York Insurance Services Group has conceded that it may make its recent association w...