Reinsurance
Pehrson joins Aon Re Global
As revealed by Reinsurance Magazine in early July , Christer Pehrson has left his post as managing director of Guy Carpenter in New York to join Aon Re Global as executive director.
Hannover Re's H1 operating profit down over 14% after €130m charge
Hannover Re, the Germany-based reinsurance giant, said that first half operating profit fell by over 14% to €400.2m, down from €467.7m after taking a €130.3m writedown on securities.
AIG chief says "lot of work to do" after compay post $5.4bn Q2 net loss
AIG chief executive Robert Willumstad has admitted that the company has a “lot of work to do” to restore it to its former glory after it reported net losses of $5.4bn in the second quarter.
Benfield H1 pretax profits fall 5%
Benfield, the world’s fourth-biggest reinsurance broker, said that first half pretax profits fell 5% to £87.7m from £92.3m in the corresponding period of 2007.
Benfield profits down 5%
Benfield Group has reported revenue down 4% to £233m for the first six month of the year compared to the same period last year.
Analysts cheer Aspen
Aspen Insurance Holdings' second quarter net income rose 11% to $126.9m (£64.8m) from $114.7m this t...
Lancashire GWP shrinks
Lancashire has reported gross written premium of $383.4m (£196.7m) and a combined ratio of 66.4% for...
Appointment at Willis
Willis Group Holdings has appointed Jonathan Prinn as managing director for strategic carrier relati...
$540m goodwill charge sends MMC to $145m net loss in H2
Marsh and McLennan, the financial services company that owns Marsh and reinsurance broker Guy Carpenter, said a goodwill charge of $540m sent it into a net loss of $145m in the first six months of the year, compared with net income of $445m last year.
The 2008 Reinsurance Magazine Power List
Below are the rankings for Reinsurance Magazine's 2008 power list. 2007 rankings are in brackets. The list details who - in Reinsurance's opinion - are the top 20 movers and shakers in the (re)insurance market (from brokers to underwriters to buyers),…
Munich Re first half profits off nearly 35%, but bright on outlook
Munich Re reported a drop of first half profits of nearly 35%, impacted by decreasing insurance prices, the high amount of catastrophe losses, and over €2bn of subprime writedowns.
Flagstone premiums jump 20% in H1
Flagstone Reinsurance Holdings has announced net income of $41.9m for the second quarter of 2008, compared to $14.7m for the quarter ended 30 June 2007. Net income for the six months was $74.8m, compared to $50.3m for the six months ended 30 June 2007.
Axis Q2 net income drops 8%
Axis Capital, the Bermudian (re)insure, said that second quarter net income fell to $231m, down from $252m in the second quarter of 2007.
Swiss Re says Q2 net income off 53%
Swiss Re said that second quarter net income fell by 53%, dropping to CHF565m CHF from CHF1.194bn CHF the year before. The number was below analysts' expectations of CHF770m, according to Citigroup.
Swiss Re buys Barclays Life for £753m
Swiss Re has agreed to acquire Barclay's closed life business Barclays Life for £753m.
Lancashire H2 net income drops 25%
Lancashire Holdings, the Bermudian specialist insurer, said that pretax profits for the first half of the year fell 25%, hit by worse-than-expected risk losses in the first half of the year.
Tropical storm Edouard threatening Texas coast
The US National Hurricane Center has issued a tropical storm warning for tropical storm Edouard, which is in effect from the mouth of the Mississippi river westward to the San Luis Pass.
Carvill in 'exploratory talks' with Stone Point over stake sale
Insurance broker Carvill is in the process of selling a stake in its business to US private equity house Stone Point Capital. It is not known what the price is for the deal.
Aon sizing up Benfield bid
Aon is sizing up an approach for UK reinsurance broker Benfield, according to the Daily Telegraph .
Amlin acquires motor book for £20m
Amlin syndicate 2001 has acquired for cash, the renewal rights to approximately £20m of general commercial motor fleet insurance from HCC Underwriting Agency, which will be integrated into Amlin Insurance Services, the UK Commercial Division of the Amlin…
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The Weekly
Chicago hope
While Greg Case was at his previous job at consulting behemoth McKinsey, Aon was in turmoil. Three years on, Alex Ferguson spoke to the most bullish chief executive in the broking world
Guy Carpenter, Willis Re point to softening cycle
Reinsurance prices dropped again at the 1/7 renewals deadline, according to reports from Guy Carpent...
Integro, Amber Partners introduce hedge fund investor cover
Integro, the complex risk insurance broker, and Amber Partners (Bermuda), the hedge fund operational...