Reinsurance
Atrium weather losses reduced
Lloyd's insurer Atrium's steady performance was boosted this week after it announced its hurricane l...
Start-up trading boost
BermudIan start-up Lancashire reported "better than expected" trading in the January renewals. Howev...
Events
27 February - Insurance Institute of London Lunchtime Lectures - The role of terms and conditions in...
FSCS blames unfamiliarity for delay
The Financial Services Compensation Scheme has blamed a lack of familiarity with secondary intermedi...
Omega emphasises start-up difference
Lloyd's insurer Omega Underwriting has emphasised the differences between its Bermudian start-up and...
Lloyd's report highlights 'boom and bust' concerns
Lloyd's underwriters see managing the insurance cycle as the most important challenge facing the glo...
PXRe future in doubt
The future of PXRe looked increasingly in doubt as the catastrophe reinsurance specialist unveiled m...
Benfield brings in electronic placing with eReinsure
Benfield has announced the launch of eCatFac, an electronic placing platform which facilitates the placing of facultative reinsurance for cedants with large catastrophe exposures.
Lloyd's underwriters highlight need to avoid "boom and bust" cycles
Lloyd’s underwriters see managing the insurance cycle as the most important challenge facing the global industry for the second year running, according to new research published today.
Montpelier Re hit by 2005 losses
Montpelier Re Holdings has confirmed that it had a very bad year in 2005, after it reported a net loss for the quarter ended December 31, 2005 of $61m, compared with net income of $102.4m, for the same quarter in 2004.
Start up Lancashire warns over property and marine pricing after January renewals
Insurance start up Lancashire this morning reported better than expected trading in the January renewals. However, while Lancashire noted this was the case for retrocession and energy classes, it added marine excess of loss and the property catastrophe…
PXRE “exploring alternatives” as crucial 'A' rating lost
The future of PXRE looked increasingly in doubt as the catastrophe reinsurance specialist unveiled massive increases in hurricane losses, saw its financial strength rating downgraded to B++ from A- by AM Best, and said it is exploring “strategic…
Atrium hurricane losses fall
Lloyd's underwriter Atrium has announced its hurricane loss estimates have fallen £8m to £59m.
Axis Capital Holdings reports net income
Axis Capital Holdings has reported net income of $90.1m (£52.1m) for 2005, compared with net income ...
MMC: stabilised in 2005
Marsh and McLennan president and chief executive Michael Cherkasky this week claimed that the compan...
GAB Robins recruits Andy Cathersides
GAB Robins has recruited Andy Cathersides to its newly formed London market business unit. Mr Cather...
Stormy 2006 ahead, claims Hurricane chief
The 2006 Atlantic hurricane season could be worse than the 2005 season, according to Max Mayfield, director of the US-based National Hurricane Center.
Omega's Bermuda operation seeks rating after beginning trading
Omega Underwriting Holdings today announced its newly formed subsidiary in Bermuda, Omega Specialty Insurance Company Limited, has now to trade following authorisation by the Bermuda Monetary Authority as a Class 3 insurer. Omega Specialty is capitalised…
Arch Re comes through 2005 unscathed, reveals Flatiron details
Bermudian (re)insurer Arch Capital Group has reported net income of $256.5m for the year ended December 31, 2005, compared to $316.9m for the 2004 year. The Company's combined ratio was 95.8% for the 2005 calendar year compared to 92.1% for the 2004 year.
GAB Robins strengthens london market team
GAB Robins has recruited Andy Cathersides to its newly formed London Market Business Unit. Mr Cathersides will report directly to Trevor Cameron, Managing Director of the LMBU.
KBW bullish on Zurich profit forecasts
Analyst Keefe Bruyette and Woods has projected Zurich Financial Services's fourth quarter results will report net attributable earnings of $419mn (£239m) (4Q04: $730mn; consensus: $419mn-1.1bn) and a business operating profit (ZFS basis) of $688mn (4Q04:…
Lancashire poaches Everest underwriter for retro account
Bermudian class of 2005 start-up Lancashire Holdings has announced the intended appointment of Bryan Bumsted as retrocession underwriter and VP. The appointment will take effect upon final approval from the Bermuda Department of Immigration
AIG adds $870m to asbestos and environmental reserves
US insurance giant AIG has added $870m to its asbestos and environmental (A&E) reserves as part of an overall reserve-sweetening package of $1.69bn.
AM Best affirms Wilton Re ratings
AM Best has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Wilton Reinsurance Bermuda and Wilton Reassurance Company (together known as Wilton Re). All ratings have a stable outlook.