Reinsurance
GIC India ratings affirmed
Indian reinsurance giant General Insurance Corporation has had its financial strength rating affirmed by AM Best.
Validus ramps up underwriting after AIG raid
Bermudian (re)insurer Validus said that it is to create a new global technical lines team, after hiring three senior underwriters and two engineers from stricken US insurer AIG.
Marsh launches Triple C
Marsh and Berkshire Hathaway said that they have created a property insurance programme that can provide up to $500m of annual capacity, in the aggregate, for windstorm losses incurred by all participating oil and gas companies operating in the Gulf of…
AIG set for biggest ever quarterly loss
Troubled US insurance giant AIG is set to reveal a fourth-quarter loss of up to $60bn, writes Katherine Brandon, reporter, Professional Broking .
Swiss Re downgraded
Moody's Investors Service has downgraded the insurance financial strength (IFSR) and senior debt ratings of Swiss Reinsurance Company (Swiss Re) and associated companies from Aa3 to A1. (See list below for more details.). The ratings have been assigned a…
Aon signs deal with BAE Systems
Global defence, security and aerospace company BAE Systems, has signed a five-year insurance deal through Aon and its partner insurers.
Glacier Group Chief Underwriting officer gets new role
Glacier Group, the European insurer and reinsurer operating as Glacier Re and Glacier Insurance said that it would be restructuring to "take advantage of favourable underwriting conditions through its network of global offices."
Catastrophes send Advent to loss
A wave of natural catastrophes as well as two major US hurricanes sent Lloyd's reinsurer Advent diving to a net loss for the 2008 full year, the company said in a statement.
Scor closes $200m Cat bond
French (re)insurer Scor said it has closed the three series of its "Atlas V" catastrophe bond, the first "cat bond" issued worldwide in six months.
Bond Insurer MBIA splits
(BESTWIRE) Financial guaranty insurer MBIA Inc. will split itself into two entities, one covering U.S. public finance transactions while the other retains the company's more troubled book of structured finance guaranties.
Lancashire: conservative rules
Lancashire's full year results have beaten market expectations despite reporting a fall in pre-tax p...
Swiss Re replaces chief exec
Swiss Re has replaced chief executive Jacques Aigrain amid heavy investment losses. Mr Aigrain resig...
QBE acquires in move to be top five property player
QBE has moved closer to its ambition to become a £500m specialist property player and top-five UK pr...
Alec Finch outlines plans after giving up chair role
Alec Finch has revealed he will focus on other business interests after stepping down as chairman of...
Appointment at Markel International
Markel International has recruited Tomas Nilsson as claims manager for Markel International Sweden...
Marsh group revenue rises
Marsh and McLennan group companies saw global revenue across the risk and insurance services busines...
IPC Holdings shares jump after results beat expectations
Shares in Bermudian (re)insurer IPC Holdings were up nearly 6% at $28 in early trading on NASDAQ after the company's results beat analysts expectations.
Berkshire Hathaway disclosed stock portfolio value falls nearly 26%
Berkshire Hathaway, the owner of US reinsurance giant General Re and US motor insurer Geico has reported that the dollar value of its disclosed assets has falled nearly 26%.
Atrium promotes senior underwriter to run Singapore office
Atrium Underwriting said it has opened an office in Singapore to develop regional business on behalf of Atrium Syndicate 609. Atrium Singapore is being established using the Lloyd's Asia platform and will write a portfolio of marine and energy, aviation…
IPC Holdings FY net income drops 76%
IPC Holdings, the Bermudian holding company for reinsurer IPC Re, said that full-year net income dropped 76%, hampered - like its rivals- on investment income losses.
Arch's FY net income more than halves
Arch Capital, the Bermudian (re)insurer, reported a fourth quarter net loss of $142.9m, down from a net gain of $234m in the same period of 2007. Arch's full-year net income result more than halved to $265.1m, down from $832m the year before.
US firm looks to set up de facto pricing model for property claims
An American software firm is poised to roll out its products across the UK with the aim of becoming the de facto source for pricing information for property claims expenditure, whether it is labour, materials or plant hire.
Montpelier Re Q4, FY results hammered by investment losses
Montpelier Re, the Bermudian (re)insurer, stumbled to a comprehensive loss in the fourth quarter of 2008 and for the full year after sustained heavy investment and catastrophe losses.
Atrium opens Asia office
Atrium Underwriting Group has opened a Singapore office to develop regional business on behalf of Atrium Syndicate 609.