Reinsurance
Hurricane Bill downgraded
Hurricane Bill has been downgraded to a Category 3 Hurricane but Bermuda may well be on Hurricane or Tropical Storm Watch by the end of the day.
Novae’s new reinsurance unit to operate from London and Zurich
Novae takes on 12-strong team of senior reinsurance professionals.
Novae launches reinsurance arm
Novae Re expected to write over £100m in GWP.
Bermuda likely to be affected by Hurricane Bill
Since Bill is a large system, Bermuda is likely to feel the effects of the storm even if it is not directly hit, according to catastrophe risk modeling firm AIR Worldwide.
Hurricane Bill upgraded to category 4
Hurricane Bill has been upgraded to a Category 4 strength hurricane, according to the US National Hurricane Centre.
Allianz granted licence in Qatar
Insurer to write Takaful insurance in QFCRA.
US federal debt poses risks to economy, says Buffett
Buffett applauds measures adopted by the Federal Reserve and officials from the Bush and Obama administrations, Buffett noted the US is fiscally in “uncharted territory.”
Hijackers of the Arctic Sea demanded ransom of $1.5m from insurer
The hijackers of the Arctic Sea, the freighter found this week by Russia’s navy after going missing shortly after passing through the English channel, demanded a ransom of $1.5m from the ship’s insurer.
Hurricane Bill predicted to miss Bermuda
Hurricane Bill is predicted to miss Bermuda.
Aon Benfield board member joins Towers Perrin
Derek Keating joins reinsurance broker.
Obama willing to compromise on health plan
The Obama administration gave its strongest signal yet on Sunday that it may be willing to compromise on plans to expand the government's direct role in health-insurance coverage as it fights a growing opposition.
Tropical storm Claudette hits Florida
The 2009 hurricane season heats up with three storms forming in just over a day.
Japan exits recession
Other economies coming out of recession include Germany, France and Hong Kong, and this may be another sign the global economic slowdown is easing.
Atlantic storms at a 1000-year high
Research from Pennsylvania State University suggests climate change could increase the frequency and severity of hurricane activity.
France and Germany out of recession
GDP rose a seasonally adjusted 0.3 percent for Q2 in both countries
Aon captive management arm reshuffle
Aon Global Insurance Managers, a division of Aon responsible for captive management, today announced it will be streamlined into a new regional leadership structure with three hubs - Europe, the Middle East and Africa; the Americas; and Asia Pacific.
Guy Carpenter expands Latin America and Caribbean Operations
Guy Carpenter names ex-Aon Benfield senior exec. Aidan Pope new CEO of Latin American and Caribbean operations.
Validus expands into the middle east
Validus subsidiary Talbot has expanded its business into the Middle East through the creation of Underwriting Risk Services, a managing general agency based in Dubai.
Madoff finance boss pleads guilty
Frank DiPascali, the former CFO of Bernard Madoff, has pleaded guilty for his role in the $65bn fraud.
Berkshire Hathaway to write more casualty business
Buffett’s Berkshire Hathaway is willing to sell more insurance for natural disasters but may be held back by falling prices
Hannover Re to strengthen capital base
Reinsurer plans to grow its capital base by upto 26%
Second quake hits Tokyo
Earthquake hits early Tuesday morning and damages main motorway south of the capital.