Reinsurance
Aspen announces directorate change
Aspen has promoted of Julian Cusack to chief operating officer and expands the role of chief financial officer Richard Houghton.
Lloyd's creates bespoke policy
Lloyd’s has announced it has insured a leading European wine maker and taster’s nose for five million Euros.
Net premium falls $3.1bn for US reinsurers
A group of 20 US property-casualty reinsurers wrote $22.7bn in net premium in 2007 marking a decrease of $3.1bn from the previous year, according to the Reinsurance Association of America annual underwriting report.
Hannover sees €30m Emma hit , retro up to 30% softer
Global reinsurer Hannover Re, has said it has made a preliminary estimate of approximately €30m of net losses from Windstorm Emma which wreaked havoc across Central Europe on March 1st.
Jobs will go as part of Benfield's cost savings plan - CEO
Some of Benfield’s £15m of cost savings will come in the form of job cuts, confirmed the reinsurance broker’s chief executive today.
RFIB Group appoints new recruit
Lloyd’s insurance and reinsurance broker RFIB Group has announced the appointment of a new group chief financial officer.
Benfield shares hammered as results disappoint
Reinsurance broker Benfield reported falling 2007 revenues and profits as the firm was hit by the sliding dollar, competitive reinsurance pricing and experienced a continued drag from losses at its fledgling corporate risks division.
Validius-IVC and Laird team up
Validus-IVC, a specialist management consultancy, and Laird Assessors have announced a strategic partnership.
Omega says takeover discussons ongoing; reports doubling of FY profit
Bermudian-domiciled Lloyd’s (re)insurer Omega Insurance said takeover discussions were ongoing, although gave the market nothing to report.
Windstorm to cost hundreds of millions
Gale force winds and relentless rain across large parts of the UK this week are expected to result i...
Harbor Point in frame for Omega - sources
Bermudian (re)insurer Harbor Point may have Lloyd's insurer Omega in its sights, sources have told Reinsurance Magazine.
Montpelier appoints new CFO
Bermudian (re)insurer Montpelier Re Holdings has announced the appointment of Michael Paquette as chief financial officer, effective from May 1st 2008. Mr Paquette, who currently serves as Montpelier’s principal accounting officer, will keep his job as…
White Mountains to buy out Berkshire Hathaway stake
Bermuda-headquartered (re)insurance group White Mountains has announced today that it has signed an exchange agreement with Berkshire Hathaway to buy substantially all of the common of Berkshire Hathaway’s 16.3% stake in the firm in a cash and run-off…
Flagstone to buy Imperial Re of South Africa
Bermudian class of 2005 start-up reinsurer Flagstone Re has announced that it is to buy 65% of South African reinsurer Imperial Re, a company it first teamed up with back in October 2007.
Windstorm Johanna sweeps across UK
Windstorm Johanna continues to lash parts of the UK and France.
Hiscox weathers storm
Hiscox has reported profit before tax of £237.2m (2006: £201.1m) on gross written premium of £1.2bn ...
What the papers said this week
International Herald Tribune Warren Buffett has said he will no longer offer to guarantee $800bn (£...
Critical illness - On the critical list
Health & Protection
Swiss Re happy with results
Swiss Re has reported a 9% decrease in net income for 2007 to CHF4.2bn (£2.04bn) and a return on equ...
Quinn Direct among firms owed millions as company faces insolvency
Insolvency proceedings have been launched against broker Orion Direct after it is understood to have...
Guy Carpenter hires CEO
Marsh and McLennan Companies has named Peter Zaffino as chief executive officer of Guy Carpenter, re...
Appointment at NMB
Newman Martin and Buchan has recruited Chris Jones to its reinsurance division. Mr Jones has 25 year...
Amlin ROE up 37.8% despite weakest links
A combination of successes produced a return on equity of 37.8% for Amlin in 2007, despite the "weak...
Electronic accounting and settlement arrives in Bermudian reinsurance market
Technology in the Bermudian reinsurance market has taken a leap forward with the arrival of electronic accounting and settlement messaging.