Reinsurance
Zurich puts quake bill at $200m
Zurich announced today that based on preliminary estimates, it expects aggregate claims payments related to the earthquake in Chile of approximately $200m before tax.
Bermuda insurers on slip for US oil rig explosion - sources
Ace, Axis Capital and Lancashire are all on the slip for the US oil rig which exploded in Louisiana earlier this week, according to Reinsurance sources.
Second Icelandic eruption could cause mortality risk - RMS
The recent eruption could trigger a larger eruption of nearby volcano Katla, which could pose a significant morbidity and mortality risk, according to RMS.
Platinum reports Q1 results slump
Platinum Underwriters' first-quarter profit fell 82% on lower earned premiums.
Stewart departs Guy Carp
The head of Guy Carpenter's retro team has left the company amid rumours of another corporate restructuring at the reinsurance broking giant.
Willis names new director at first Irish AGM
Willis has appointed Michael Somers as a director of the company and member of the risk committee of the board of directors.
Willis names new director at first Irish AGM
Willis has appointed Michael Somers as a director of the company and member of the risk committee of the board of directors.
Inter Resolve plots path after £30m VC backing
Personal injury claims specialist Inter Resolve is poised to grow after receiving a multi-million pound investment from venture capital firm Balderton Capital.
Ex Swiss Re ILS head joins Willis for capital markets push
Willis has appointed Bill Dubinsky as managing director and head of insurance-linked securities for its Willis Capital Markets & Advisory arm.
Coface to get French state fund aid for partial IPO
The French state is likely to lend a helping hand to investment bank Natixis in selling its credit insurance unit according to newswire Reuters.
Coface to get French state fund aid for partial IPO
The French state is likely to lend a helping hand to investment bank Natixis in selling its credit insurance unit according to newswire Reuters.
Brown & Brown Q1 profit down 8%
US (re)insurance broker Brown & Brown has reported a quarterly profit that narrowly beat market estimates, helped by low expenses.
Endurance promotes Asquino
Endurance Specialty Holdings has announced the appointment of Thomas Asquino as CUO, property and casualty, of Endurance Worldwide Reinsurance.
UAE premium growth shifting away from commercial sectors – S&P
A ratings agency report on the United Arab Emirates shows insurance penetration in the region is still growing, with geographical distribution similar to previous years, premium growth has shifted to the personal/retail sectors from commercial sectors…
Goldman Sachs does not have E&O cover
Goldman Sachs, the investment banking giant that has recently been indicted by the SEC for fraud, does not carry E&O insurance, market sources have told Reinsurance.
Munich Re places North Carolina cat bond
Munich Re has placed a catastrophe bond to cover two North Carolina insurance groups' hurricane exposures.
Rehabilitation: Back on track
Early intervention with rehabilitation can cut the cost of sickness absence as well as insurance claims. Leigh Jackson asks whether new developments will kick start renewed interest and take up of services in the UK.
10 new partners at Clyde
Clyde & Co has promoted 10 partners, effective from 1 May 2010.
Airline body slams lack of co-ordination over volcanic groundings
The International Air Transport Association has criticised European governments for what it claims is a "lack of leadership in handling airspace restrictions in light of the Icelandic volcano eruption". It urged a re-think of the decision-making process.
Waterland to buy MetLife Taiwan for $112.5m
Waterland Financial Holdings to pay cash for the Taiwan business of the US life insurer as more insurers exit the country.
Airline body slams lack of co-ordination over volcanic groundings
The International Air Transport Association has criticised European governments for what it claims is a "lack of leadership in handling airspace restrictions in light of the Icelandic volcano eruption". It urged a re-think of the decision-making process.
Reinsurance market could turn this year – Lockton Re
Lockton market update report notes that the reinsurance market may be on the brink of a new shift in cycles despite strong 2009 reinsurer results.
Buffett loses $1bn after Goldman charge
The value of Warren Buffett’s options to buy Goldman Sachs shares fell by over $1bn after the SEC sued the investment banking giant on Friday, according to sister publication IFAonline.
US Congress extends National Flood Insurance Program
President Barack Obama has signed into law legislation that extends the National Flood Insurance Program (NFIP) through to 31 May.