Reinsurance
Folksamerica Re downgraded by AM Best
AM Best has downgraded the financial strength rating of Folksamerica Re to A- (Excellent) from A (Excellent) and the issuer credit rating (ICR) to "a-"from "a". The rating has been placed under review with negative implications.
Plumeri calls for Federal disaster solution
Willis Chairman and CEO Joe Plumeri has called for a federal solution to help US (re)insurers prepare for natural or man-made disasters.
Olympus capital exhausted by White Mountains reserves shock
The fate of Bermudian reinsurer Olympus Re effectively hangs by a thread today as its principal cedent, White mountains discovered enough new 2005 losses to wipe out Olympus’s remaining capital.
Max Re listing saga nears close
Max Re Capital has announced that, after filing its delayed Form 10-Q for the three months ended March 31, 2006 with the SEC on June 8, 2006, the company has been notified by the Nasdaq staff that its filing delinquency has been cured and the Nasdaq…
Appointment at Aspen Re
Aspen Re has appointed an international property facultative team based in London and Paris. Manager...
Brand new, go retro
M4 Underwriting's start-up team, Don Oakley and Martin Long, explain how they plan to go back to the future to shake-up the small to medium-sized enterprise market. Jonathan Swift reports
Ruling relief for manufacturers
Connor Pollard (a minor) v Tesco Stores and another (Court of Appeal - 12 April 2006)
Swiss Re completes acquisition of GE Insurance Solutions
Swiss Re has completed the acquisition of GE Insurance Solutions, which will be integrated into the ...
Swiftcover in deal with NSPCC
Online insurer Swiftcover.com has selected the National Society for the Prevention of Cruelty to Children and sister organisation in Scotland, CHILDREN 1ST as its charity of choice, and has begun donating £1 for every new motor insurance policy sold .
Benfield announces £75m share buyback
Benfield has announced a £75m share buyback as it issued an update on market conditions and the outlook for the group ahead of the first half period end.
Spiller new CEO of Guy Carpenter
Marsh & McLennan Companies, (MMC) has announced that David Spiller, president of Guy Carpenter, MMC's global risk and reinsurance specialty business, has been appointed to the position of chief executive of Guy Carpenter, effective July 1.
Swiss Re finally absorbs GEIS
Swiss Re has finally completed the acquisition of GE Insurance Solutions, which will be integrated into Swiss Re over the next 18 months.
Novae bets on energy market with underwriter hire
Novae group is joining the Lloyd’s energy market with the appointment of a dedicated underwriter to Novae Syndicate 2147.
Boornazian new head of reinsurance at Aspen
Aspen Insurance Holdings has named Brian Boornazian to the newly created position of head of reinsurance of Aspen. Mr Boornazian will retain his current position as president of Aspen Re America as well as its associated responsibilities. He will…
Competition winners
The 10 winners of the Post Magazine/AIG competition - who have won a pair of tickets to see Constabl...
Price warnings fail to impress
Broker Benfield and insurer Fortis fell out of favour at investment house Keefe Bruyette and Woods t...
Wellington to hit target on cat exposures, continues Aspen exit
Lloyd’s insurer Wellington has reported accelerating average rate increases and said that it expected to have written all its targeted aggregate catatrophe exposures by 1st July.
Swiss Re announces new Nat cat programme
Swiss Re has announced the placement of a natural catastrophe protection programme called Successor, the follow-up vehicle to the PIONEER and Arbor programmes, which has allowed it to place $950m in protection.
Inaction over climate change could leave industry bust: Report
The insurance industry must face up to the growing threat of climate change or risk being swept away, according to a report released today by Lloyd's.
Appointment at Talbot
Talbot has made several appointments, including Andrew Keogan as head of internal audit; Rod Harris ...
Flying high
Aviation
Validus goes for 75% Q/S with new sidecar
Class of 2005 start-up Validus Re has announced that it has done a two-year sidecar collateralised q...
The hardest market in 27 years
A year ago, Mark Geoghegan found Chris Clark (CC) lamenting the softness of a marine market that was only just recovering from Hurricane Ivan - at that time its biggest-ever loss. One year and two big storms later, the world has been turned upside-down..