Reinsurance
Cat bond activity down so far in 2008
(BestWire) — The first nine months of 2008 have seen a decrease in the issuance of catastrophe bonds to about $2.73bn (£1.56bn) from $5.38bn in the same period last year, according to Emmanuel Modu, managing director and global head of structured finance…
CILA denies kick-back deals
Loss adjusters are receiving payments from contractor networks as a way to balance decreasing insure...
Barton: concentration of power a problem
Smaller brokers are benefiting from consolidation among the largest brokers, because clients are ner...
Appointment at Brit Insurance
Brit Insurance has recruited Eddie Wattenbach as UK and international professional indemnity underwr...
Berkshire Hathaway looking to offload Marlborough Underwriting
Berkshire Hathaway is looking at selling its underwriting agency Marlborough Underwriting, according to a senior source at the company.
Munich Re says not 'fundamentally' affected by stock market collapse
Munich Re, the German (re)insurance giant, has said that it has not been fundamentally affected by the recent collapse of world equity prices.
Benfield shareholders give go-ahead to Aon merger
Shareholders of UK reinsurance broker Benfield have approved the £844m takeover of the company by US broking giant Aon at a special general meeting in Bermuda.
XL former CEO forced to sell shares to meet margin call
XL Capital has said that its chairman, Brian O’Hara, involuntarily sold approximately 80% of his XL common shares on 9 October in order to meet a margin loan call.
Aspen expects investment returns to fall and reveals hurricanes exposure
Bermuda-based (re)insurer Aspen said that it is expects investment returns to fall by $47m if the investment environment continues to be as troubled as it has been over the last year.
Lancashire reveals hurricane hit but upbeat on investment returns
Lancashire Holdings, the specialist Bermudian insurer, said that it estimates that Hurricanes Gustav and Ike will have a combined net negative impact on its financial results of approximately $150m on its books.
Swiss Re claims it can ride out financial storm
(BestWire) Swiss Re said it is well placed to ride out the worst of the financial storm that has gripped the world's economies over the past few weeks, Reinsurance Magazine has reported.
AM Best upgrades Arch
AM Best has upgraded the issuer credit ratings to "a+" from "a" and affirmed the financial strength rating of A (Excellent) of Arch Reinsurance and its reinsured affiliates.
LIC eyes Stock Exchange
Lancashire Insurance Group has said it will aim to be a fully listed company on the London Stock Exc...
Appointment at Heath Lambert
Heath Lambert has appointed Elliot Lane to the new role of group public relations director. Mr Lane,...
Entrepreneurial spirit
Homeserve chief executive officer Richard Harpin has been crowned UK overall entrepreneur of the yea...
Endurance outlines Gustav, Ike and investment losses
Endurance Specialty Holdings, a Bermuda-based provider of property and casualty insurance and reinsurance, said that its initial loss estimate related to Hurricanes Gustav and Ike, pretax and net of reinsurance and reinstatement premium, is $145m.
Munich Re estimates $500m of pretax losses from Gustav and Ike
Munich Re, the Germany-based reinsurance giant, said that it is expecting $500m of pretax losses from hurricanes Gustav and Ike.
Lloyd's insurer to seek listing on the LSE
Lloyd's insurer Lancashire has announced plans to list next year.
AIG's Liddy: we will favour 'brand name' buyers for assets
AIG chief executive Edward Liddy has told an investors conference that it will favour "brand names" in selling its businesses.
Trio quit Liberty Syndicates for Pembroke
Liberty Syndicates has lost a team of three headed by divisional underwriter Quentin Prebble, Reinsurance has learnt.
AIG to sell US life insurance units - report
AIG, the stricken US insurer, is to sell its US life insurance business, according to press reports.
Aon Re Global makes appointment
Aon Re Global has appointed Jon Steed to its Aviation Consultancy and Reinsurance Services.
Munich Re CEO says company may look at AIG assets
Munich Re chief executive Nikolaus Von Bomhard has said he expects to be approached by AIG about possibly buying some of its Asian operation.
Aon Re Global recruits senior exec from Guy Carpenter
A senior Guy Carpenter executive has moved from the company to work for broking rival Aon, a senior source has told Reinsurance.