Reinsurance
Catlin founder: Bermuda tax rises a nasty surprise
The increasing cost of employing people in Bermuda will add to the pressure on the Island's global reinsurers to locate more jobs in cheaper jurisdictions according to Stephen Catlin
Dai-ichi Life raises $11bn in IPO
Dai-ichi Mutual Life Insurance will raise 1.01trn yen ($11bn) in the Japan’s biggest initial public offering in more than a decade after pricing its stock 9.7% below the top of a planned range.
Flagstone proposes domicile move
Flagstone Re has said that it wants to move domicile from Bermuda to Luxembourg.If approved by shareholders, Flagstone said that it expects the redomestication to take place over several months.
Flagstone proposes domicile move
Flagstone Re has said that it wants to move domicile from Bermuda to Luxembourg.If approved by shareholders, Flagstone said that it expects the redomestication to take place over several months.
Odyssey Re gains admitted status in Brazil
Odyssey Re, the US (re)insurer, has said that it has been approved to conduct business as an admitted reinsurer in Brazil.
Arch losses from Chile quake $35-50m
Arch Capital has announced its losses from the effects of the Chilean earthquake to be in the range of $35m to $50m, net of reinsurance, retrocessions and reinstatement premiums.
Canopius delivers profit of £55m for 2009
Canopius Group, the privately-owned Lloyd’s insurance underwriting business, has reported profit before tax of £55m up from £43m in 2008 and profit before tax excluding foreign exchange on non-monetary items of £74m.
Obama signs US health reform
US health reform bill has now been passed into law but several states are preparing to challenge the bill's legality
Amlin: earthquake may exhaust inward cat excess of loss exposures
Lloyd's insurer Amlin has issued estimates for the impact of the Chilean earthquake and windstorm Xynthia, both of which occurred over the weekend of 27th /28th February.
Amlin: earthquake may exhaust inward cat excess of loss exposures
Lloyd's insurer Amlin has issued estimates for the impact of the Chilean earthquake and windstorm Xynthia, both of which occurred over the weekend of 27th /28th February.
Guy Carpenter appoints vice chairman
Guy Carpenter has promoted Victoria Carter to vice chairman of Guy Carpenter International.
US Senate passes health reform bill
Final bill does not allow premiums to be capped as feared by US health insurers leading to stock price rises.
Airmic: members will have to take Solvency II pain for little gain
The Solvency II reforms as currently proposed would reduce the amount of insurance capacity available to UK businesses and put up the cost of cover, the Association of Insurance and Risk Managers has warned.
Airmic: members will have to take Solvency II pain for little gain
The Solvency II reforms as currently proposed would reduce the amount of insurance capacity available to UK businesses and put up the cost of cover, the Association of Insurance and Risk Managers has warned.
Bermuda Insurance Exchange under discussion
Plans to create a Bermuda Insurance Exchange have been put to Government, Flagstone Re chairman Mark Byrne has revealed at a Reinsurance Magazine event on the island.
‘Troubling’ bailouts punish best companies - Chubb
Chubb CEO John Finnegan, said government bailouts punish the best-run companies and impede the functioning of markets.
Allianz sells third of stake in Chinese bank
Allianz has reported a gain of 400m euros of the sale of the third of its shares in Industrial & Commercial Bank of China that it bought in April 2006.
Axis releases $500m of Senior Notes
Net proceeds for the offering to be used for “general corporate purposes.”
Pexton named as new Omega CEO
Omega has named former chief executive of Heritage Underwriting Agency Richard Pexton as its new CEO. Mr Pexton, who also joins the Omega board, replaces Richard Tolliday (pictured).
Allied World Chile quake losses up to $75m
Allied World has estimated that the recent earthquake in Chile will cost it in the range of $55m - $75m, while Windstorm Xynthia, which hit Europe earlier this month, will cost the Bermudian (re)insurer $2m.
Miller looks to Markel to boost Singapore team
Miller Insurance Services has announced that Paul Cheng has joined its office in Singapore.
Ace outlines $125m cat losses from first quarter
Ace has announced its estimated net after-tax losses in the first quarter from natural catastrophes will be approximately $125m, including reinstatement premiums.
Ace outlines $125m cat losses from first quarter
Ace has announced its estimated net after-tax losses in the first quarter from natural catastrophes will be approximately $125m, including reinstatement premiums.
FM Global reports gross premium increase for 2009
Business property insurers FM Global has announced gross premium in force of $4.7bn (£3.0bn) as part of its end of year results for 2009 – an increase of more than 5% year-on-year.