Reinsurance
Lancashire approves repurchase programme
Lancashire Holdings has approved a share repurchase programme after announcing its results for the three month period ending 31 March 2008.
Axis Capital Q1 net income up 4%
Axis Capital, the Bermudian (re)insurer, reported a 4% rise in first quarter net income.
Flagstone Re to buy 29.9% of Alliance Re
Flagstone Re has said that it has agreed topurchase up to 29.9% of Cyprus-domiciled specialist property and casualty reinsurer Alliance Re from current shareholders.
Guy Carpenter confirms job cuts
Global reinsurance broker Guy Carpenter has confirmed that it is undergoing a round of job cuts.
Ironshore wins New York excess and surplus approval
Ironshore Insurance the Bermudian specialty (re)insurer, has gained approval to write excess and surplus busines in the state of New York, when the Excess Line Association of New York (ELANY) added the firm to a list of eligible E&S insurers.
Benfield UK staff in pensions squeeze
Hundreds of Benfield staff could see their pension benefits cut as a result of the reinsurance broker’s efforts to save cash in order to deal with the softening reinsurance cycle as well as the weak dollar.
Guy Carpenter's White next senior casualty of job cuts - sources
Guy Carpenter’s UK energy reinsurance broking head is the latest senior casualty as part of the broker’s job cutting, Reinsurance has learned.
Integro looks to Lockton and JLT for hires
Integro has bolstered its UK practice with hires from Lockton and Jardine Lloyd Thompson.
IPC Holdings Q1 net income up; gross written premiums off 16%
IPC Holdings, the Bermudian (re)insurer, said that gross written premiums for the first three months of the year dropped 16% to $197.9 million, compared to $236.2 million in the first quarter of 2007.
Willis appoints new executive vice president
Willis Group Holdings has announced the appointment of Dorien Smithson to executive vice president, Willis Americas.
Guy Carp senior vice-president Rich goes in round of job cuts- sources
One of Guy Carpenter’s senior vice-presidents has been named as another high-profile casualty of the reinsurance broker’s job cuts, Reinsurance understands.
Transatlantic reports solid 1Q, takes small investment write-down
Transatlantic Re has reported net premiums written for the first quarter of 2008 up 5.2% to $1,035.6m compared to $984.2m in the first quarter of 2007.
Japanese renewal rates down 5-10% - Guy Carpenter
Reinsurance rates across each line in Japan generally decreased from 5 - 10%, according to report from Guy Carpenter.
Appointment at Plantec
Plantec has recruited operations manager Anthony Howarth into its motorcycle repair centre team. Mr ...
Appointment at Aspen
Aspen has promoted Julian Cusack to chief operating officer. In his new role, he will be responsible...
Omega puts talks on hold
Omega, the Lloyd's insurance group, has terminated takeover talks with all parties. "The board belie...
Food and drink companies face difficult future, says Aon
Companies operating in the food and beverage sector should be hedging against a difficult future, according to Aon Risk Services.
Novae hires Tracy Lee Kus for financial services team
Novae has strengthened its financial institutions (FI) team with the appointment of underwriter Tracy Lee Kus.
Munich Re warns of less good Q1 2008 vs 2007
BESTWIRE — Munich Re, the German reinsurance giant, predicted its profit for the first quarter of 2008 will not be as good as the figures it saw over the same period of 2007 thanks to exposure to a number of major cat losses.
Appointment at Heritage
Paul Aitchison has taken the newly created position of business development manager at Heritage Mutu...
Dipping your toe in the water
Reinsurance: Brazil
Napoli shipwreck fallout could hit EUR70m level
A multi-million pound legal battle is under way as the final section of the MSC Napoli shipwreck is ...
Investors should expect a "mixed bag" of results from Q1 earnings - analysts
Investors should expected a mixed bag of results from first quarter results thanks to sub-prime writedowns as well as one-off loss events, say US analysts at Keefe, Bruyette & Woods.
Omega terminates takeover talks; says business is strong
Omega, the Lloyd's (re)insurer, said that it has terminated takeover talks with all parties.