Reinsurance
Banco de Brasil in IRB stake buyout talks
Brazil's state-run bank Banco de Brasil is in talks with IRB-Brasil Re about buying a majority stake.
Willis snags senior fac exec from Guy Carpenter
Willis has brought Hugh Powell from Guy Carpenter to lead a part of its facultative reinsurance broking division.
Axis expects $136m life derivative hit
Bermudian reinsurer Axis Capital said that it expeects to lose $136m on a longevity risk derivative contract, which will be reported in the third quarter's results.
Cooper Gay appoints business development boss
William Elborne lands London-based role
Brokers upbeat on prospects for 2009
Brokers are upbeat on the prospects for 2009, senior management has told an AM Best conference
Housley joins new Rowell syndicate
Former Axis specialty chief joins Johnny Rowell's new syndicate, Reinsurance has learned.
Reinsurance demand expected in 2009 not materializing - AM Best
Reinsurance demand expected in 2009 is not materializing, according to AM Best
JLT raids Aon for Asia boss
Dominic Burke hails capture of Anthony Longridge in regional push.
Run off market increased by 30% in 2008
Annual KPMG report claims market is worth £37.4bn.
Ace names Derek Talbott executive vice president of international property
Ace appoints ex Aon Benfield Fac senior vice president Derek Talbott as executive vice president, international property.
Insurer American Keystone shut down
American Keystone placed into receivership with the Florida Department of Financial Services and will be liquidated after the company’s latest financials were insufficient to buy reinsurance, regulators said.
PICC raises $732m
PICC Property & Casualty, China's largest non-life insurer in terms of premiums, has completed the issuance of RMB 5bn worth of ten-year subordinated bonds (circa $732m).
Aegon gets $650m boost
Dutch insurer Aegon has made $650m in regulatory capital available to its US operations by tapping future life insurance profits in a 10-year reinsurance transaction with JPMorgan Chase.
Third quarter Cat bond activity up -Guy Carpenter
Third quarter Catastrophe bond issuance is up, according to Guy Carpenter
Hannover Re gets China license
Hannover Re has received approval to open a branch in Shanghai for non-life reinsurance.
The full Monte
The 2009 Reinsurance/PricewaterhouseCoopers roundtable lunch saw some good-natured sparring between friends and rivals over the hot topics of the day - from the problems thrown up by AIG's troubles to Solvency II and US cage-rattling over Bermuda.
Missing the boat
Reinsurers have so far failed to appreciate the opportunity that regulatory reform is presenting them with, writes James Vickers
Hot climate
Our roundup of reader opinion shows rates are flattening, the economic crisis hasn't dampened your appetite for a new job and climate change is creeping up the agenda.