Reinsurance
Validus ups Ike loss estimates
Validus Holdings, the Bermudian (re)insurer, said that it has raised its loss estimates from Hurricane Ike by approximately $70.1m to a current total estimate of approximately $235.1m.
2008 highest year for US insured losses since 2005 - ISO
US property/casualty insurers are expected to pay homeowners and businesses $25.2 billion for 2008 property losses from 37 catastrophes - the fourth highest cost in a decade and the highest frequency in a decade, according to preliminary analysis by ISO…
Scor planning $200m catastrophe bond - reports
Scor, the French reinsurance giant, is currently marketing a $200m catastrophe bond to potential investors, according to reports.
Axis raids Cunningham for major loss expert
Axis International Loss Adjusters and Surveyors has appointed Richard Atkin as technical director. He joins from Cunningham Lindsey where he was a major loss expert.
Guy Carpenter's Reinsurance Solutions head steps down
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan, said that Sal Zaffino has stepped down as chairman and chief executive of its Reinsurance Solutions business, which specialises in tailored insurance and reinsurance services.
Madoff may cost insurance industry $1.8bn - Aon Benfield
The Bernard Madoff scandal may cause insured losses of $1.8bn, according to research by Aon Benfield.
Hannover Re in €100m life reinsurance capital markets transaction
Hannover Re has transferred a portfolio of life and annuity reinsurance to the international capital markets, the company said in a statement.
Ironshore adds another former AIG executive
Ironshore added yet another former AIG executive when the Bermuda-based insurer appointed Geoff Smith as its worldwide head of its new excess liability division.
Platinum Re ups Ike estimates
Platinum Underwriters Holdings, the Bermuda-based (re)insurer, has increased its loss estimate from Hurricane Ike by approximately $60mto a total estimate of approximately $165m, net of reinstatement premiums and tax benefit.
Aon to outsource UK claims operations; Xchanging seen as favourite
Aon Benfield said that it will outsource its UK claims and other back office operations.
Colemont raids Benfield for new regional head
Colemont Global Group has received regulatory approval from the "Comision Nacional De Seguros Y Fianzas" in Mexico to open a reinsurance broking operation based in Mexico City.
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…