Reinsurance
Private market insured losses limited for US Midwest floods - RMS
Private market insured losses to property may be limited in the Midwestern United States due to a lack of buyers of flood coverage in the affected region, a report from Guy Carpenter has said, quoting a note from Risk Management Solutions.
Benfield to appoint former RenRe president as non-exec
Reinsurance broker Benfield has said it is to apoint William (Bill) Riker to its board from the 1st of September 2008.
US P/C industry's net income after taxes almost halves in Q1 - ISO/PCI
The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2bn in first-quarter 2008 from $16.2bn in first-quarter 2007 and a cyclical peak of $17.7 bn in first-quarter 2005, figure from ISO and the Property Casualty Insurers…
Marsh aviation team migrates to Guy Carpenter
Marsh’s aviation reinsurance team is set to join its sister Marsh and McLennan Companies-owned business Guy Carpenter by the end of the year.
New Energy insurer Torus launches in London and Bermuda with $720m
First Reserve Corporation, the company beind the 2006 Petrel Re energy sidecar for Validus Re and Sideris Re, has joined forces with a group of senior insurance practitioners to create a new specialist insurance company, Torus Insurance Holdings Limited …
Alec Finch London undergoes management buyout
Alec Finch London has been acquired by its management, it parent has disclosed.
Marsh aviation reinsurance team to transfer to Guy Carp
Marsh and its MMC reinsurance broker sister company Guy Carpenter have announced that Marsh's aviation reinsurance team is to transfer to Guy Carpenter by the end of 2008.
Hannover in exclusive life deal with India's GIC Re
Global reinsurer Hannover Re has reached an exclusive cooperation agreement with India's government-owned reinsurer GIC Re regarding the joint development, marketing and underwriting of life reinsurance business in India.
Appointment at Talbot
Talbot has hired Mike MacColl as marine and energy claims manager. Previously a director at Charles ...
Sullivan resigns from AIG
Martin Sullivan has resigned his post as CEO of AIG. Current chairman Robert Willumstad has taken ov...
Hannover Re confirms Sudan air crash exposure
Hannover Re has confirmed that it had a share on the insurance for the Sudan Airways flight which crashed in Khartoum on last week.
Allstate closes $250m Texas windstorm cat bond
Allstate, the US insurance giant, has closed their second catastrophe bond deal under the Cayman Islands domiciled Willow Re.
Willumstad says AIG's insurance businesses unlikely to be sold
(BestWire) — Robert Willumstad, American International Group’s new chief executive officer, is promising a thorough examination of all the corporation’s businesses and may decide to sell some franchises, but expressed doubt that any of its insurance…
Insured value of US coastal properties jumps 7% yoy - AIR
The insured value of properties in coastal areas of the United States continued to grow at a compound annual growth rate of just over 7%, a report from AIR says.
Sullivan out as CEO, Willumstad in as AIG changes leadership
Martin Sullivan has resigned his post as CEO of AIG, the insurance giant said in a statement. Current chairman Robert Willumstad has taken over the reigns of the company.
Brit Insurance rating statement by AM Best
Brit Insurance Holdings has had its ‘A’ (excellent) financial strength rating for the group’s principle insurance company subsidiary, Brit Insurance confirmed by AM Best.
Guy Carpenter appoints Gardner to be new head of global sales
Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist, today announced Tim Gardner as head of its newly formed global sales practice.
Munich Re confirms insuring crashed Sudan Airways flight
Munich Re has confirmed that it had a share on the insurance for the Sudan Airways flight which crashed in Khartoum on Tuesday night.
Fitch projects return to underwriting loss for US P&C in 2008
US ratings Fitch is projecting that the US Property/Casualty industry forecast will make a modest underwriting loss in 2008, twinned with a "significant reduction in profits and return on surplus for the year".
Report reveals two-tier risk analysis divergence
Risk Report
Fostering healthy market convergence
The current, growing capital market involvement in the insurance and reinsurance industries through ...
XL Re wins Brazil admitted licence
XL Re has announced it has received regulatory approval to serve the Brazilian reinsurance market as an admitted reinsurer.
Marsh increases construction claims team
Marsh has acquired the assets of Nielsen-Wurster's construction claims and dispute resolution business.
Max Capital subsidiary buys Commercial Guaranty Insurance Company
Max Specialty, the U.S. excess and surplus lines unit of Bermudian (re)insurer Max Capital, said it acquired Commercial Guaranty Casualty Insurance Company, an insurance entity licensed to write business in all fifty states plus the District of Columbia.