Reinsurance
AIG plans sale of its 24% stake in IPC
Bermudian reinsurer IPC has announced that AIG has notified it of its intention to to sell up to 15.397 million of the IPC common shares it owns in a public offering, subject to market conditions.
Insurer mulls future after Lloyd's hit
Bermudian insurer Quanta Capital has admitted it may have to place its Lloyd's syndicate into run-of...
Appointment at Glencairn
Rachel Errington has joined Glencairn, assuming responsibility for the project management of its bes...
Lloyd's broker hit by departure of senior six
Lloyd’s broker Monument has been hit by the resignation of six senior staff.
PXRE Group COO resigns
PXRE Group has announced that Guy Hengesbaugh, the chief operating officer of the company, has resigned.
Europe stabilises, claims S&P report
Ratings in the European insurance sector are predominantly stable, according to a new report, "Industry Report Card: European Insurance, " from Standard & Poor's Ratings Services.
Post-Katrina returns tempt investors
Large institutional investors are taking Lloyd's insurers more seriously after "excellent 2005 numbe...
Arch Europe given rating
Arch Europe has recently been assigned Standard and Poor's ratings service A- counter-party credit a...
Appointment at Arch Insurance Company
Arch Insurance Company (Europe) has recruited Philippe Vivares as underwriting manager offshore ener...
Lloyd's not blown off course by hurricanes
Up to half of the syndicates in Lloyd's managed to produce profits in the 2005 calendar year, contri...
PXRE downgrades continue as S&P lower ratings
Standard & Poor's Ratings Services has lowered its counterparty credit ratings on PXRE Group and PXRE Corp. to 'B+' from 'BB-' and removed the ratings from CreditWatch negative where they were placed on Feb. 16, 2006.
PXRE ratings downgraded again by AM Best
AM Best has announced that it has downgraded the financial strength rating (FSR) to B (Fair) from B+ (Very Good) and the issuer credit ratings (ICR) to "bb" from "bbb-" for the reinsurance subsidiaries of the PXRE Group.
SAB Capital ups stake in Lancashire
Bermuda-based institutional reinsurance investor SAB Capital has revealed that it has increased its holdings of Bermudian (re)insurance start-up, Lancashire Holdings.
Swiss Re embedded value goes up
Swiss Re has announced that the embedded value of its life and health business increased significantly to CHF 20.1bn in 2005, up from CHF 17.1bn in 2004. Operating profit from existing business grew 38% to CHF 1.5bn from CHF 1.1bn in 2004, and returns on…
XL details IPO of FG spin-off, Security Capital
Security Capital Assurance Ltd (SCA) – a newly-created holding company for XL’s financial guarantee insurance and reinsurance businesses conducted through XL Capital Assurance (XLCA) and XL Financial Assurance (XLFA) – has filed details of its proposed…
JLT Executive chairman resigns amid board reshuffle
Dominic Collins, executive chairman of JLT, has resigned as the company makes several board level appointments.
Appointment at Validus Holdings
Validus has appointed Joseph Consolino as chief financial officer and executive vice-president of th...
Hurricane strength index published
Carvill's readvisory group, a reinsurance intermediary, has today published a paper detailing a new index to measure hurricane damage. The Hurricane Damage Potential Index gives a more accurate measure of a hurricane’s potential to cause damage than…
French media says Stone Point in frame for Axa Re purchase
French business daily Les Echos has said that it believes specialist (re)insurance private equity group Stone Point Capital is close to doing a deal to buy the active units of French reinsurer Axa Re from its parent, global insurer, Axa.
Omega joins class of 2005 on A- rating
AM Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating (ICR) of “a-” to Bermudian start-up (re)insurer Omega Specialty Insurance Company Limited (OSIL). At the same time, A.M. Best has assigned an ICR of “bbb”…
Integro appoints London compliance officer
Integro Insurance Brokers has appointed Peter Burton to the position of compliance officer at its London office.
PXRE's troubles deepen
PXRE has reported a net loss of $446.5m for the fourth quarter of 2005, which was substantially down...
Benfield reports healthy profits despite stormy 2005
Benfield has announced that despite difficult market conditions, it made a profit of £34.8m over 200...
Recruitment moves
Re-sume