Reinsurance
Appointment at Zurich
Zurich Financial Services Group has appointed Ann Haugh to the position of chief operating officer...
Appointment at Ironshore
Ironshore has recruited Joe Boren and John O'Brien as chief executive officer and president, res...
Swiss Re, Zurich and Marsh warn of economic risks
A report released today by the World Economic Forum warns of challenging risks to the global economy in 2009 including a deteriorating fiscal positions, a hard landing in China, a collapse in asset prices, gaps in global governance and issues relating to…
Ironshore appoints former Allied World exec to head up property book
Ironshore, the Bermuda-based insurer has appointed John Murphy as worldwide head of its property book.
Advent ups Ike estimates due to losses on energy account
Advent has increased its estimated losses for Hurricane Ike from £15m before tax, as reported in its third quarter results, to a current estimate of £42m before tax.
Senior Aon Benfield fac broker resigns
A senior facultative broker has resigned from Benfield Fac, Reinsurance has learnt.
IPC Holdings ups Ike, Gustav estimates
IPC Holdings, the Bermudian (re)insurer, has upped its estimate of claims from hurricanes Gustav and Ike by approximately $47m to a total estimate of approximately $135 million, net of reinstatement premiums.
Willis in NEDA link-up as governance concerns grow
Broker Willis has forged a partnership with the Non-Executive Directors' Association to help members...
Appointment at Tysers
Tysers has recruited Robin Barker-Hahlo and Andrew Smallshaw as directors along with David Edwards a...
Imperfect storm heralds return of hard market
The global economic crisis that blew up in 2008, blindsiding banking and dominating headlines, shoul...
Pricing for 1 July renewals expected to remain firm - Aon Benfield
Global reinsurance prices firmed for January 1, 2009 renewals and are expected to remain firm at the April through July 2009 renewals, research from Aon Benfield said.
Reinsurance market hardened at 1/1- Guy Carpenter, Willis
Reinsurance pricing at the all-important January 1st renewals date shows a hardening market, research from Guy Carpenter and Willis has revealed.
CV Starr's Bermudian reinsurance group given ratings
Starr Insurance & Reinsurance Limited (SIRL) (Bermuda), an indirect wholly owned subsidiary of Starr International Company, Inc. (SICO) (Panama), a private investment holding company has been assigned a financial strength rating of A (Excellent) and an…
Qatar ratings affirmed
Ratings agency AM Best has affirmed the financial strength rating of B++ (Good) and the issuer credit rating of "bbb+" of Qatar General Insurance and Reinsurance Company. The outlook for both ratings remains stable.
Validus raids AIG for head of MGA start up
Validus is expanding its business into 'technical lines property' insurance through the creation of Validus Underwriting Risk Services, a managing general agency based in New York.
Carvill trio leaves for rival broker
Three senior brokers have left Carvill to join Lloyd's broker Tysers.
Swiss Re financial strength rating outlook moved to negative - Best
AM Best has downgraded its outlook for Swiss Re's 'A+' financial strength rating to negative.
Munich Re agrees to buy AIG business for $742m
Munich Re has agreed to acquire specialty insurer Hartford Steam Boiler (HSB Group) from AIG for $742m (€531m). The reinsurance giant stressed it had funded the deal entirely from "existing resources".
Swiss Re borrows $1.5bn from JP Morgan
Swiss Re, one of the world's largest reinsurers, has entered into a $1.5bn long term letter of credit facility with US bank JP Morgan.
Imperial set to treble staff
Imperial Consulting aims to increase staff numbers by more than three times by the middle of next ye...
US P/C industry pulls in small profit - ISO
The US property/casualty insurance industry's net income after taxes through nine-months 2008 amounted to $4.1bn, down 91.8% from $50bn through nine-months 2007, a joint report from ISO Property Services, the Property Casualty Industry (PCI) and the…
Lancashire announces promotions
Bermuda-based specialty (re)insurer Lancashire Holdings today announced the following promotions in the underwriting team at the group and operating company levels.
Aspen UK given Australian authorization
Aspen Insurance Holdings Limited, the Bermudian (re)insurer, said that its subsidiary, Aspen Insurance UK Limited, has been authorized by the Australian Prudential Regulation Authority to operate as a branch insurer to underwrite general insurance…
Aon Benfield places Olympics cover
Aon Benfield has completed the cancellation and abandonment insurance programme for the 2014 Winter Olympics in Sochi.