Reinsurance
Pru and AIG in talks on restructuring AIA sale
AIG and Prudential are in advanced talks to restructure the $35.5bn sale of AIA, the AIG’s Asian unit, in a move that would cut the cash consideration by about $2bn but could answer UK regulators’ last-minute objections to the deal according to the…
Libya plane crash losses to hit Catlin, broked by Aon
A Libyan Airbus crashed when trying to land at Tripoli airport early on Wednesday, killing 103 passengers and crew aboard.
FSB welcomes Con-Lib pact plans on CGT and personal tax
Business leaders have welcomed the agreement between the Conservative and Liberal Democrat parties to form the next Government.
AIG approves $380m bonuses in 2010
AIG has approved a plan to award executives $380m based on their performance according to newswire Bloomberg.
Samsung Life rises after record IPO
Samsung Life Insurance rose on its first day of trading in Seoul after raising $4.3bn in South Korea’s biggest initial public offering.
QBE to partner with rugby stars at this years Biba conference
QBE are joining with Guinness premiership players to welcome brokers to their rugby-themed stand at this years BIBA conference.
Miller enahnces financial institutions business
Insurance and reinsurance broker Miller has enhanced its financial institutions business with the appointment of Alexander Dreyer.
Comment: Everything to play for
Solvency II has created a cloud of uncertainty over captive insurance companies. Alan Fleming explains.
Oil spill costs Catlin $40m
Catlin has estimated its exposure to the Deepwater Horizon oil disaster is approximately $40m (£27m) net of reinsurance and reinstatements.
Oil spill could cost $3.5bn
The Deepwater Horizon oil slick approaching the Louisiana coastline could cost the insurance industry $3.5bn (£2.3bn).
Beazley sees significant gains in reinsurance and property in Q1
Beazley has reported a 195% increase in premiums to $438.2m in quarter one 2010 (Q1 2009: $368.9m). It added average rates decreased by 1%.
Chaucer raids Brit for PI underwriter
Chaucer Syndicates has appointed Ian Noble as professional indemnity class underwriter for Chaucer Syndicate 1084.
Hiscox to enter aviation as it reports £10m Deepwater hit
Hiscox’s gross written premiums grew year on year by 6.4% in local currencies to £504.1m in quarter one 2010(2009 Q1: £486.5 m).
Hiscox to enter aviation as it reports £10m Deepwater hit
Hiscox’s gross written premiums grew year on year by 6.4% in local currencies to £504.1m in quarter one 2010(2009 Q1: £486.5 m).
Liberty Mutual net income soars
US insurance giant Liberty Mutual has reported net income of $315m for the three months ended March 31, 2010 an increase of $293m over the same period in 2009 despite $411m catastrophe losses in the quarter.
New Jersey targets captive and reinsurance markets
New Jersey Insurance Commissioner Tom Considine has praised new legislation that would grow the reinsurance market and create a captive insurance market in the state.
THB director resigns from board
The board of THB has announced the resignation of human resources director Corinne Bennett, as a director of the company with effect from 2 July 2010.
Gulf spill to harden US energy rates - MarketScout
The premium and corresponding rates for all lines of commercial property and casualty business in the United States were down 4% for the month of April 2010.
Johnston Re cat bond completed
Johnston Re, the US hurricane catastrophe bond for the North Carolina Joint Underwriting Association (NCJUA) and the North Carolina Insurance Underwriting Association (NCIUA), closed on Monday at $305m.
Ironshore completes $250m debt offering
Ironshore has announced that it completed the private offering of 8.50% senior notes due 2020.
Fitch more positive about German GI sector
Fitch Rating has today revised the outlook for the German non-life insurance sector to stable from negative due what it described as "increased investment income in 2009 and an increase in motor insurance premium rates in early 2010".
Fitch more positive about German GI sector
Fitch Rating has today revised the outlook for the German non-life insurance sector to stable from negative due what it described as "increased investment income in 2009 and an increase in motor insurance premium rates in early 2010".
PM Brown announces he will stand down
Gordon Brown has announced that he intends to stand down as Prime Minister and leader of the Labour Party by the time of the Labour Party Conference in the Autumn.
Prudential takeover of AIA given go ahead by FSA
Prudential saved its takeover of AIG’s main Asian unit after reaching an agreement with the UK regulator, the Sunday Times has reported.