Reinsurance
Fitch gets in on ILS action
International ratings agency Fitch Ratings has set up an analytical team dedicated to ranking insurance-linked securities (ILS).
PXRE default cost on dead A&W Cat bond could hit $53m
In an SEC announcement troubled Bermudian Cat specialist PXRE has revealed that it could be on the hook for up tp $53.4m in termination charges for failing to pay the premiums due under retro deals with Atlantic and Western Re Limited, the Cayman vehicle…
Aspen forges ahead in bumper 06
Bermudian (re)insurer Aspen has unveiled a vintage year, with net income of $378.1m for 2006 on a combined ratio of 82.4% for the group.
Hannover Re submits claim under Eurus Cat bond
Hannover Re's Eurus Cat bond has become the third insurance securitisation to be potentially affected by windstorm Kyrill.
Hannover Re happy with renewals despite market peak
Global reinsurer Hannover Re has announced that it is happy with its showing in the 1/1 renewal season, growing its P&C top line modestly over the period.
Willis ups underlying net income 37.8% in 2006
World number 3 broker Willis has reported net income for the 2006 year of $449m, compared with $281m a year earlier.
Appointment at Benfield
Jeremy Goodman has joined Benfield as executive vice president. He will assume a leadership role in ...
RenRe posts record results, but 2007 prospects dwindle
Bermudian reinsurer RenaissanceRe reported record income and returns for 2006, but has tempered the good news with caution for growth prospects in 2007, citing a softening market and the impact of the Florida Government’s decision to increase its State…
AXIS results beat expectations
AXIS Capital has smashed expectations with its latest results, announcing profits of $281m in the final quarter of 2006.
Class action filed against Quanta over 2005 loss estimates
Quanta is the latest (re)insurer to face a shareholder class action relating to alleged losses arising from increases in 2005 loss reserves.
Benfield Fac appoints head of Australasia and SA
Reinsurance broker Benfield has announced the appointment of Michael Lazarus as head of its Facultative Solutions team for Australia, New Zealand and South Africa.
Swiss Re sells gherkin
Swiss Re has agreed to sell its London office building, 30 St Mary Axe [known also as the Gherkin] to an affiliate of the real-estate corporation IVG Immobilien AG for 600 million pounds. The transaction is expected to close in February 2007.
AXIS Capital annouces Kyrill losses
The winter storm Kyrill is believed to have cost Bermuda-based reinsurance company AXIS Capital $40-$55m, it announced today.
XL surprises with magnitude of Kyrill loss
Bermudian (re)insurer XL has surprised analysts by unveiling loss estimates from windstorm Kyrill of $60m to $75m.
20-year hurricane threat
The threat of hurricanes in the Atlantic region will remain high for decades, a report by a leading ...
Goodman to join Benfield
Benfield has announced the appointment of Jeremy Goodman, who recently left rival Cooper Gay, to hea...
News - Markel president lambasts Lloyd's aviation strategy
Markel president Tony Markel has launched a scathing attack on Lloyd's recent willingness to accept ...
Swiss Re calls for claims index as Kyrill costs forecast at $5-10bn
Swiss Re is advocating the establishment of a market-loss index for natural-catastrophe risks to aid...
News - Ironshore starts underwriting after $1bn fundraising
Bermuda reinsurance start-up Ironshore has raised more than $1bn through a private placement of its ...
News - Marsh establishes $1bn sidecar
Marsh has broken its post-Spitzer duck by once again making a substantial investment in the underwri...
RAA calls for single US reinsurance regulator
The Reinsurance Association of America (RAA) has called for the US to have a single reinsurance regu...
News - Talbot poaches teams, announces 6% capacity rise
Lloyd's underwriter Talbot is increasing the capacity of its Syndicate 1183 to £325m for the 2007 ye...
Atrium launches space consortium at Lloyd's
Atrium is broadening its space coverage as part of a realignment of its underwriting activities in 2...
Hannover Re raises $106m to support risk securitisation
Hannover Re has raised a further $106m from investors to support its 'K5' risk securitisation as unv...