Reinsurance
Terrorism risk in the post-TRIA era
Terrorism risk
Counting the cost
Natural catastrophes
RIMS backs TRIA extension
Terrorism Risk
Appointment at RK Carvill
Recruitment
Benfield predicts minimal insurance losses from earthquake
Reinsurance broker Benfield predicted minimal insurance losses from this week's Asian earthquake. It...
AIG delays 2004 10-K
American International Group’s (AIG) problems have deepened as it announced that it was formally delaying the submission of its Form 10-K for 2004.
Buffett to meet regulators over AIG inquiry
Warren Buffett is to meet with investigators looking at a deal between a subsidiary of Mr Buffett’s Berkshire Hathaway and troubled (re)insurer American International Group (AIG).
AM Best leaves Hannover Re ratings unchanged
AM Best has commented that Hannover Re’s ratings remain unchanged following the announcement of its consolidated 2004 year-end post-tax profit of €309m ($422m).
Hannover Re profits hit by nat cat losses
An unusually high burden of major losses from natural catastrophe events in the third quarter of 2004 prevented Hannover Re from generating a new record result, according to the company.
Omega Underwriting meets investors
London Market News Brief
AM Best affirms WOE’s ratings
AM Best has affirmed the A (Excellent) financial strength rating of West of England Ship Owners Mutual Association (WOE) (Luxembourg). The rating outlook remains stable.
RAA releases US industry figures
According to a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 26 US property-casualty reinsurers wrote $28.8bn of net premiums during the twelve months ended December 31, 2004.
SVB losses top £110m
Lloyd's insurer SVB reported technical profits of £65.0 million (2003: £68.9 million) and operating profits of £46.7 million (2003: £56.7 million) on its continuing business. However, including discontinued business the insurer's loss before tax was …
Benfield plans primary push
Reinsurance specialist Benfield Group is planning to expand its primary broking capabilities in the ...
Lloyd's questions Pool Re's terror definition
London Market News
Appointment at Carvill
Carvill has made David Thomas its new managing director. Mr Thomas has worked for the company for 24...
Ratings pressure
Maurice Greenberg's resignation as chairman and chief executive officer of AIG prompted a frenzy of ...
Lloyd's fund faces huge cuts
Lloyd's Central Fund will be slashed by more than a quarter, to £575m, after a settlement with reins...
Munich Re puts profitability first
London Market News
Munich Re posts healthy profit
Munich Re has announced a return to profit for 2004, with all business segments contributing to the greatly improved result of €1.8bn, up on the loss of €434m it made in 2003.
Lloyd's Central Fund arbitration: Settlement announced
Lloyd’s has reached a settlement agreement with the insurers involved with the arbitration proceedings relating to an insurance policy supporting its new Central Fund. The settlement amount is £152m, which includes amounts previously paid.
Benfield predicts challenging year ahead
Benfield Group has reported profit before tax for 2004 of £90.4m, up £59.3m on the previous year's £31.1m. Group operating revenue decreased to £304.6m (2003: £307.7m). Profit before tax and exceptional items increased by £8.4m to £68.6m (2003: £60.2m).
Moody’s changes Aon outlook to stable
Moody's Investors Service has affirmed the Baa2 senior debt of Aon Corporation and has changed the outlook to stable from negative.
Wellington to reproduce Folgate model
Wellington Underwriting will seek to diversify its UK book of business in 2005 by replicating its di...