Reinsurance
Spiller in line for $7m payoff from Guy Carp departure
Ousted chief executive of Guy Carpenter David Spiller is in line for a cash and equity pay off worth $7m, Reinsurance magazine understands.
Amlin unveils bumper 2007 but sees tougher 2008
Lloyd’s (re)insurer Amlin recorded record results as the mix of still-high pricing, strong investment income and a lack of catastrophe losses helped the firm increase full-year pretax profits by nearly 30% to £445m from £342.7m.
Spiller out as CEO of Guy Carpenter; Zaffino in
Marsh & McLennan Companies has today named Peter Zaffino as chief executive officer of Guy Carpenter, replacing David Spiller.
Phoenix from the ashes
World Trade Center developer Larry Silverstein has announced the first raft of insurance contracts f...
Penny Black's insurance week
Although two weeks may have passed since Valentine's Day, it seems that the spirit of love - or rath...
Axis in Middle East push
Axis International Loss Adjusters and Surveyors has acquired an interest in specialist Middle Easter...
Marsh appoints forensic head
Marsh has appointed Neil Greaves as leader of its forensic accounting and claims services (FACS) Practice in the UK.
Willis selects AIG, Beazley and others for WTC building project
World Trade Center developer Larry Silverstein has announced the placement of the workers’ compensation, general liability, excess liability, and specialty insurance programs for the construction of Towers two, three, and four (200, 175, and 150…
Munich Re says expects FY profits to be €400-900m lower this year
Munich Re, the German reinsurance firm, said that it expects this year’s profits to be between €400-900m lower than last year because of the softening underwriting market.
Sandler stands down from broker board, but stays on at Ironshore
Following his appointment as executive chairman of Northern Rock, Ron Sandler has resigned from the board of Oxygen Holdings. He is replaced as non-executive chairman by Tom Binks.
Catlin signs $150m cat loss reinsurance contract to protect portfolio
Catlin Group has purchased a collateralised US$150m annual aggregate reinsurance contract which protects the group’s portfolio of property treaty reinsurance against accumulated losses from specific perils.
Allianz reports FY net income up 13.5%
Allianz reported that full-year net income accelerated 13.5% in 2007, thanks to a low level of catastrophe claims and a 21% gain in its life and health division.
MDU to share policies
UK medical defence organisation the Medical Defence Union has confirmed that it will be sharing the ...
Appointment at Carvill
Reinsurance intermediary Carvill has promoted Dr Steve Smith to president of property solutions for ...
Validus nets premiums rise
Net 2007 premiums written at Bermudian-based Validus increased by 92.5% to $918.4m (£471.2m) from $4...
Appointment at Ironpro
Ironshore has recruited Scott Fitzmaurice into its professional liability facility Ironpro, as assis...
One man's dogged determination
Richard Brindle
Appointment at Aon
Aon Re Global Fac has promoted Oliver Schofield to head of global strategy. Mr Schofield joined Aon ...
International property market takes $1.5b-2bn hit in first 50 days of 2008
The international commercial property market has suffered a string of three major losses totalling approximately $1.5-2bn in the first weeks of 2008 Reinsurance Magazine understands.
Montpelier Re says FY net income rose 4%
Montpelier Re, the Bermudian (re)insurer, said that full year net income rose over 4% to $315.8m, up from $302.9 a year before.
Panmure pans Benfield
A secular squeeze on fees and commissions, falling reinsurance prices and the time taken for Benfield Corporate Risks to achieve profitability are headwinds towards Benfield, says Panmure analyst Barrie Cornes in a note to shareholders.
Axis in Charman u-turn
Axis Capital today announced that the terms of the employment agreement of John Charman, chief executive and president, have been extended to 31 December 2013.
Flagstone Re FY net income rises over $15m
Flagstone Re, the Bermudian (re)insurer, said that full year net income grew to $167.92m (£86.1m) from $152.34m in 2006, thanks to a low level of catastrophe losses during the year.
IPC 2007 profit cools on higher loss frequency
IPC Holdings, the Bermudian catastrophe reinsurer, said that its 2007 net income fell to $385.4m from $394.5 in 2006, as the effects of the property and catastrophe premium softening and increased catastrophe loss frequency were felt.