Reinsurance
Marsh Q4 profit drop
Marsh and McLennan Group has reported a sharp drop it in profit for the fourth quarter of 2007 to $8...
Omega in takeover talks
Omega Insurance, has confirmed it is "in discussions with a number of parties who have expressed an ...
MDU brings in Hannover Re for 25% share
UK medical defence organisation the Medical Defence Union (MDU) has confirmed that it will be sharing the insurance policy it markets to its members between two providers from April. The cover was previously written 100% by Swiss reinsurer Converium’s UK…
Buffett offers monline bond insurers olive branch
Warren Buffett offered monoline bond insurers an olive branch on Tuesday when he revealed in a TV interview with CNBC that he had offered to insure $800bn of municipal bonds guaranteed by Ambac, MBIA and FGIC.
Validus absorbs Talbot and doubles profit in 2007
Net 2007 premiums written at Bermudian class of 2005 (re)insurer Validus increased by 92.5% to $918.4m from $477.1m, due to the absorption of Lloyd’s specialist insurer Talbot which added $285.2m, as well as growth from Validus Re.
MMC income more than halved in 4th quarter
Marsh and McLennan Groups has reported a sharp drop it in net income - including discontinued opertaions - for the fourth quarter of 2007 to $85m (£43m)(2006: $226m).
Arch reports rock solid full-year results
Bermudian (re)insurer Arch said full-year results for 2007 showed a modest decline in overall net written premiums, but a marginally improving combined ratio, buoyed by an improving loss ratio and stronger investment income for the year. .
AIG writes down $5 bn in credit default swap portfolio
AIG has been told by its auditors Pricewaterhouse Coopers that it has a “material weakness” in its financial reporting related to a fair value valuation of a credit default swap portfolio, prompting a $5bn writedown in its value.
Guy Carpenter reports solid FY results
Guy Carpenter reported solid full-year results for 2007, adding little sunshine to a very cloudy set of results for parent company Marsh & McLennan.
Ark hires new political risk underwriter
Leon Richardson has joined the team of terrorism, war and political risk underwriters at Ark Syndicate Management's Lloyd's syndicate 4020.
Collins to expand in Europe, MD appointed
US-based reinsurance broker Collins has announced it is to expand into Europe.
Fitch publishes new ratings methodology
Fitch Ratings has published its methodology for rating insurance linked securities. This methodology represents the final version of a methodology first published as an exposure draft.
Reinsurance FY results round-up
This week Ace, the Bermudian (re)insurer, reported a 12% rise in full-year net income to $2.57bn, up from $2.30bn. However, combined ratio for the year fell to 87.9% from 88.1%, while net written premiums for the year fell marginally to $11.98bn from $12…
Omega in play, private equity mooted
Omega Insurance, the Lloyd’s-based specialist (re) insurer, has confirmed that it is “in discussions with a number of parties who have expressed an interest” in acquiring the group.
Aspen reports 29% increase in annual net income
Aspen Insurance has reported a record net income of an $489m marking an increase of 29.3% on 2006.
Verlingue hails key UK appointment
Alec Finch and Company has appointed Paula Williams as its new managing director. Ms Williams joine...
Appointment at Colemont
Carlos Herrera has joined Colemont Miami's corporate portfolio division. He was previously employed ...
Zurich aims for top three
Zurich has expanded its marine division by appointing a new head and forming a marine cargo unit, th...
Hurricane link research
New research quantifying the impact of rising Atlantic sea surface temperatures aims to help insurer...
Penny Black's insurance week
Penny was tempted to join the ranks of Lancashire Insurance last week, after setting eyes on the com...
Benfield gets China nod
Benfield has received approval from the China Insurance Regulatory Commission to open a new represen...
Brindle warns insurers of multi-billion credit crunch losses
Insurers are being warned that their "attention deficit disorder" could lead to difficulties this ye...
Lloyd’s announces new appointments to its council and Franchise Board
Lloyd’s today announced a number of appointments to its council and Franchise Board.
Amlin underwriting director takes time out
Tony Holt, Amlin's underwriting director, is undertaking some medical treatment which necessitates him taking a few months off work, the Lloyd's insurer said today.