Reinsurance
Brit Insurance declines to comment on Chaucer bid rumours
Brit Insurance has declined to comment on press speculations that it is the latest Lloyds (re)insurer to bid for London Market rival Chaucer.
Swiss Re downgraded by Moody's
Moody's Investors Service has downgraded the insurance financial strength (IFSR) and debt ratings of Swiss Reinsurance Company (Swiss Re) and associated companies. (IFSR and senior debt ratings to Aa3. See debt list below for more details.).
Aon Q4 net income down 95%; FY net income up 71%
Aon's full-year net income shot up 71%, going to $1.478bn, up from $864m, thanks to its acqusition of Benfield midway through last year.
Catlin FY results expected to be 'ugly' - analysts
Catlin's full year results will be 'ugly', according to insurance analysts at Citi.
Aon Benfield launches new credit and financial risks centre
Aon Benfield has launched an International Centre of Excellence for Credit and Financial Risks.
Aspen Re hasn't seen losses from Madoff scandal; CEO bullish on rates
Aspen Re's casualty unit hasn't seen any losses as a result of the $50bn Bernard Madoff scandal, the company's chief executive Chris O'Kane told Reinsurance in an exclusive interview.
Aspen FY net income tumbles 78%
Aspen Insurance Holdings, the Bermuda-based (re)insurer said that reported full year net income for 2008 of $103.8m, compared to a net income of $489m for 2007.
Swiss Re put on Creditwatch negative by S&P after asset writedowns
Standard & Poor's has placed its 'AA-' long-term counterparty credit and insurer financial strength ratings on Zurich-based global reinsurer Swiss Reinsurance Co. (Swiss Re) and its core affiliates on CreditWatch with negative implications.
Berkshire Hathaway to invest CHF3bn in Swiss Re
Swiss reinsurance giant Swiss Re has said it will raise a further CHF3bn of capital from Berkshire Hathaway with an option for a further CHF2bn subject to market conditions.
Appointment at Glencairn
Glencairn has recruited John Andrews as account executive. Mr Andrews will help spearhead the comp...
Markel reports loss
Markel has reported a net loss of more than $403m (£280n) for 2008, down from a $337m profit for 200...
Dealing with the remnants
Broker Focus: Legacy
Marsh ups DeLima stake
Marsh & McLennan has purchased the remaining 49% stake in Colombian reinsurance broker Companias DeL...
Appointment at Tysers
Tysers has hired Edward Page-Turner as a director of its marine division. Mr Page-Turner brings 27...
Top ten Post stories
The top 10 stories in postonline.co.uk over the last week were: 1. Mitsui UK seeks new CEO as Guest...
Chaucer raises capital
Chaucer, the Lloyd's insurer, has confirmed that it is looking to raise £75m via a share placing. Th...
Cat bonds hold steady amid market turbulence - Guy Carpenter
Catastrophe bonds withstood the impact of onerous market forces in 2008, brought on by turmoil in the global capital markets, according to a new briefing on catastrophe bond market activity published by reinsurance broker Guy Carpenter & Company and GC…
Munich Re FY profit more than halves; shares off nearly 3%
Munich Re, the German (re)insurance giant, said that its full-year consolidated profiit more than halved over the course of 2008, dropping to €1,5bn from €3.9bn a year earlier.
Hannover Re bullish about 2009 prospects
Hannover Re gave a boost to the (re)insurance industry on Tuesday when it said that it expected to see group earned premiums rise by 17% over the course of 2009.
Ironshore ratings put under review with negative implications
Ironshore, the Bermudian insurer, has seen its financial strength and issuer credit ratings put under review with negative implications by AM Best.
Markel reports FY $403m net loss
Markel, the US-based (re)insurer, reported a net loss of over $403m for 2008, down from a $337m gain for the 2007 full-year.
Axis Capital grabs senior Chubb exec to lead new division
AXIS Capital, the Bermudian (re)insurer, said that it is to form an accident & health division. Christopher DiSipio, will lead the division.
Brit boosts accident team
Brit Insurance Holdings has appointed former Aon Benfied director Andrew Bowers to its personal accident team
A defining year for Cat bonds
Inside view