Reinsurance
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...
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Round Table
Munich Re claims record profit
Munich Re Group has achieved a record profit of over EUR2.7bn (roughly $3.3bn) in 2005. The company...
Why this creme brulee market will soon become inedible
Dear Friend, First of all, I must acknowledge a debt of thanks to the Benfield research team for co...
Life on the A- precipice
Mark Geoghegan examines life perched on the perilous edge of de facto ratings oblivion, and wonders what is so wrong with a 'B' rating for short-tail business
Run-off ruling hits CIGNA
CIGNA Corporation has reported that it has received an adverse ruling from a London arbitration pane...
Quanta receives further downgrades
AM Best has downgraded Quanta's financial strength ratings (FSR) to B++ (Very Good) from A- (Excelle...
Hannover Re announces 'break even' 2005 results
Hannover Re has said that it achieved a 'break even' result for 2005, despite what it described as "...
Lancashire 'A' rating in review after key underwriter departure
Bermudian start-up (re)insurer Lancashire has had its financial strength rating of A- (excellent) an...
Wellington reports £26m loss
Wellington Underwriting has produced a pre-tax loss for the last financial year, after massive hurri...
Stormy 2006 ahead, claims hurricane chief
The 2006 Atlantic hurricane season may be worse than 2005, according to Max Mayfield, director of th...
Validus opens $300m credit facilities
Bermudian start-up reinsurer Validus has entered into syndicated credit agreements amounting to $300...
Allstate drops New York coverage
Allstate has said that it isn't renewing some of its homeowners' policies in the New York City area ...
Converium announces 2005 profit
Converium has announced it made a profit of $68.7m in 2005. The company said the results reflected a...
GEIS paper warns of increased US coastal risks
The enormous growth in US coastal population and development is dramatically increasing the potentia...