Reinsurance
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.
China Pacific 2009 profit soars
China Pacific Insurance, China’s third-biggest insurer, said profit almost tripled last year after a rally in the domestic stock market lifted investment returns.
Munich Re takaful arm in talks with DIFC
Munich Re Retakaful is reported to be holding talks with the Dubai International Financial Centre to enter the UAE.
Start up lines up Deutsche Bank and Macquarie for UK float
Long Bay Re, a newly established Class 3 reinsurer registered under Bermuda law, has announced its intention to float on AIM.
Goldman Sachs charged with fraud by the SEC
Goldman Sachs Group was charged with fraud on Friday by the US regulator in the structuring and marketing of a debt product tied to subprime mortgages.
Ace Bermuda appoints new exec VP
Ace Bermuda, the Bermudian subsidiary of Ace, has said that Judy Gonsalves has been appointed executive vice president.
Air travel facing “greatest disruption since 9/11” – Civil Aviation Authority
A huge ash cloud from an Icelandic volcano continues to cause further air travel chaos across Europe, leaving hundreds of thousands of passengers stranded.
MetLife offers $13.5m to end contingent commissions investigation
MetLife has agreed to pay the US government to resolve an investigation into “improper” payments to a San Diego-based broker that sold the company’s coverage.
Air travel facing “greatest disruption since 9/11” – Civil Aviation Authority
A huge ash cloud from an Icelandic volcano continues to cause further air travel chaos across Europe, leaving hundreds of thousands of passengers stranded.
Aon Benfield looking for more acquisitions – Christian
Reinsurance interviewed Aon Benfield’s new co-chief executive Dominic Christian about why Andrew Appel moved across to Aon, what the future is for former Benfield CEO Grahame Chilton, and why the company is still looking to acquire.
Interview: Dominic Christian, Aon Benfield
Reinsurance interviewed Aon Benfield’s new co-chief executive Dominic Christian about why Andrew Appel moved across to Aon, what the future is for former Benfield CEO Grahame Chilton, and why the company is still looking to acquire.