Reinsurance
Berkshire Hathaway ratings downgraded
Berkshire Hathaway has seen its issuer default rating and senior unsecured debt ratings downgraded one notch by ratings agency Fitch.
Endsleigh Let launches landlord product
Endsleigh Let has launched a product to help protect letting agents and landlords from recession.
Moody downgrades outlook on Korean insurer
Meritz Fire & Marine Insurance Co Ltd (MFM), Korea's fifth-biggest non-life insurer, has had the outlook on its financial strength rating to negative from stable by Moody's.
Trean grabs Aon Benfield, Carvill brokers
Trean Reinsurance Services, a division of US specialty lines broker Trean Corporation, has expanded its presence by appointing two brokers from Carvill and Aon Benfield respectively.
Xchanging contract win
Xchanging was poised to be named as the winner of a tender to run a contract to outsource claims for...
Appointment at XL Insurance
XL Insurance has appointed Elliot Lyes as offshore energy underwriter. Mr Lyes will report to Coli...
Omega reports profit
Lloyd's insurer Omega has reported a profit before tax of $28.2m (£20.4) for 2008, compared to $59.5...
Hannover Re stumbles to net loss
Hannover Re stumbled to a full-year loss for 2008, hampered by heavy equity writedowns and heavy risk losses.
Beazley appoints new reinsurance team leader
Beazley Group has promoted Patrick Hartigan to lead its reinsurance division with effect from August 1, reporting to the chairman of the group's underwriting committee, Neil Maidment.
Berkshire Hathaway said to be setting up new Lloyd's Syndicate
Berkshire Hathaway is set to start up a new Lloyd's Syndicate according to a number of Reinsurance Magazine's high level reinsurance industry sources.
Xchanging wins Aon Benfield UK outsourcing contract
Xchanging has won the contract to outsource claims for Aon Benfield.
Max Capital's alternative investment returns rise
Max Capital, the Bermudian (re)insurer, said the return on its alternative investments for the two months ended February 28, 2009 is expected to be approximately 2%, or an increase in value of approximately $18m.
Omega claims it is still on track for full London listing by Summer 2009
Lloyd's insurer Omega has reported a profit before tax US $28.2m (2007: US$59.5m) on net written premiums of US$224.6m (2007: US$196.3 million).
Travelers appoints new positions to its syndicate
Travelers Syndicate 5000 has appointed Steve Lloyd as head of property underwriting and John Curtis as underwriter - binder and open market within global property.
Chaucer: it will take time to decide whether a bid will be forthcoming
Chaucer this morning reported an underwriting profit before investment income of £33.0m (2007: £75.5m) for 2008 on gross written premiums up 26.9% to £741.0m (2007: £584.1m). Its net earned premiums were up 23.1% to £547.2m (2007: £444.5m) and it…
Novae rules out Zurich, Dublin or Bermuda move for now
Lloyd's insurer Novae has reported a profit before tax: £40.2m for 2008 despite a estimated $40m loss from Hurricanes Gustav and Ike (net of reinsurance and reinstatement premiums).
Ironshore Bermuda appoints new boss
Ironshore Bermuda has appointed Mitch Blaser as its new chief executive officer.
Ironshore Bermuda appoints new CEO
Bermudian insurer Ironshore has appointed Mitch Blaser as chief executive of Ironshore Bermuda. Mitch has been with Ironshore since the company's launch in January 2007.
Appointment at XL Insurance
XL Insurance has appointed Elliot Lyes as offshore energy underwriter with global responsibility f...
Appointment at Validus Holdings
Validus Holdings is expanding its global technical lines division in the US, UK and Asia through the...
Guy Carpenter acquires
Reinsurance broker Guy Carpenter has agreed to acquire John B Collins Associates for an undisclosed ...
AM Best maintains 'stable' outlook on global non-life reinsurance sector
Ratings agency AM Best said it is maintaining a stable outlook in 2009 for the global reinsurance sector for the third consecutive year. This current outlook implies that the majority of 2009 reinsurer rating actions are likely to be affirmations with…
IPC CEO says merger will not lead to job cuts
The merger between Bermudian reinsurers IPC and Max Capital will not see any redundancies and may create jobs, IPC's chief executive has told Reinsurance.
Max, IPC shares tumble on merger news
Shares in Bermudian (re)insurers Max Capital and IPC Holdings tumbled on the NASDAQ after companies said they had agreed on a merger.