Reinsurance
An Audience with ... GCFac
In another FAC first, Mark Geoghegan went head to head on film with Julian Samengo-Turner and Ron Whyte, global heads of GCFac. As the cameras rolled, the issues were confronted head on. Here's an edited taster
The biggest failure of our times
Shocked that when the 'big one' comes, most people are going to be uninsured, Mark Geoghegan argues we have a moral duty to provide earthquake cover to our customers
Natural selection
Mairi Mallon meets Jim Bryce, the chief executive of IPCRe and self-styled 'dinosaur of Bermuda', and finds out why, 13 years down the line, the company is not only still going strong, but is now branching out out of its traditional mono-line catastrophe…
Interview - Pure fac and proud of it!
Mark Geoghegan caught up with Matthew Keeping, executive director of Willis Re Fac, and discovered a client-focused, facultative reinsurance purist
Berkshire Hathaway-Equitas buy-out to bring finality to Names
Berkshire Hathaway has reached an agreement in principle on a structure in which National Indemnity ...
Max Re CEO quits as old finite wounds reopened
Bermudian reinsurer Max Re's founder, CEO and Chairman, Bob Cooney has resigned as the company reopened an internal investigation into accounting for finite risk retro contracts and advised markets that it would have to restate results a second time…
PwC appoints new global head of insurance
PricewaterhouseCoopers has appointed Ian Dilks as the new global head of its insurance group.
Endurance reports record 3Q, retains much less
Bermudian (re)insurer Endurance Specialty Holdings has reported net income of $128m for the third quarter of 2006 versus a net loss of $377m in the same quarter in 2005.
Aspen posts 26% premium growth in 3Q
Bermudian (re)insurer Aspen Insurance Holdings beat market expectations by posting a net profit of $95.0m the third quarter of 2006 compared to a loss of $362m for the same quarter in 2005. The figures were founded on a combined ratio of 81%.
3Q reveals a deleveraged Montpelier Re
Bermudian reinsurer Montpelier Re has reported net income of $76m for the third quarter set against a loss of $730.3m for the same quarter in 2005. The figures came on the back of a 58.3% combined ratio
What the papers said this week
The Daily Telegraph Motoring costs are up but consumers can cut insurance bills by choosing a 'gr...
WTC is single occurrence
Swiss Re has welcomed a decision by the US Court of Appeal for the second circuit upholding the jury...
Equitas Sale - A done deal
News Analysis
Appointment at Carvill
Carvill has appointed Thomas Perkins as senior vice-president of its office in Atlanta. For the past...
Willis in major office u-turn
Broking giant Willis has made a u-turn by re-opening a client contact office in Leeds earlier this m...
South Africa calling but how far can it go?
Budget's planned expansion of its South African offshore call centre presents some interesting quest...
IPC in golden 3Q, sees more US price rises at 1/1
Bermudian catastrophe reinsurer IPC Holdings has reported net income for the third quarter of $115m compared to a net loss of $657m, for the third quarter of 2005.
Ace bounces back with 3Q gains
Ace has reported net income for the third quarter ended September 30, 2006 of $578m after payment of preferred dividends, compared with a net loss of $112m for the same quarter last year.
Flagstone Re in $175m New York IPO, European expansion
Class of 2005 Bermudian reinsurer, Flagstone Re has filed with the Securities and Exchange Commission for an initial public offering of shares to raise approximately $175m. Flagstone said it will apply to list the shares on the New York Stock Exchange…
Western Re launches new US terrorism product
US specialty managing agency Western Re/Managers Insurance Services has launched a new terrorism facility.
Partner Re records massive 3Q profit on 81.4% combined ratio
Bermudian reinsurer Partner Re has reported net income of $235.8m for the third quarter of 2006. Operating earnings for the third quarter of 2006 were $205.1m set against an operating loss of $345.2m for the same quarter of 2005.
Everest Re reports record third quarter results
Everest Re Group has reported third quarter 2006 after-tax operating income, which excludes realized capital gains and losses, of $240.2m, as compared to an after-tax operating loss of $438.9m, in the third quarter of 2005.
FIGA pays out for three insolvent companies
The Florida Insurance Guaranty Association has paid $445m in gross claims for the three insolvent Poe Financial Group companies.
Lloyd's outlook jumps following Equitas sale
Lloyd’s outlook has shot up to ‘positive’ following Equitas group’s sale to National Indemnity