Reinsurance
GAB Robins strengthens london market team
GAB Robins has recruited Andy Cathersides to its newly formed London Market Business Unit. Mr Cathersides will report directly to Trevor Cameron, Managing Director of the LMBU.
KBW bullish on Zurich profit forecasts
Analyst Keefe Bruyette and Woods has projected Zurich Financial Services's fourth quarter results will report net attributable earnings of $419mn (£239m) (4Q04: $730mn; consensus: $419mn-1.1bn) and a business operating profit (ZFS basis) of $688mn (4Q04:…
Lancashire poaches Everest underwriter for retro account
Bermudian class of 2005 start-up Lancashire Holdings has announced the intended appointment of Bryan Bumsted as retrocession underwriter and VP. The appointment will take effect upon final approval from the Bermuda Department of Immigration
AIG adds $870m to asbestos and environmental reserves
US insurance giant AIG has added $870m to its asbestos and environmental (A&E) reserves as part of an overall reserve-sweetening package of $1.69bn.
AM Best affirms Wilton Re ratings
AM Best has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Wilton Reinsurance Bermuda and Wilton Reassurance Company (together known as Wilton Re). All ratings have a stable outlook.
Hurricanes blast Endurance to $208m operating loss in 2005
Bermudian (re)insurer Endurance Specialty Holdings has unveiled a net operating loss of $208.3million for the year ending 31st December 2005 versus operating income of $348.4m a year earlier.
D+O premiums still falling
Risk Report
Rawstron acquitted of alleged money laundering
Loss assessor David Rawstron of Salisbury, Hamer, Aspden and Johnson, was acquitted of charges of al...
British or English awards?
The advertisement for the British Insurance Awards (PM, 26 January) depicts Bobby Moore the captain ...
2005 losses were "market changing"
Risk Report
Two brokers to face Lloyd's legal action
Benfield's insurers could bear the brunt of any successful claim from Lloyd's over its failed centra...
Massive Wilma hit pushes RenRe to first-ever loss
Bermudian (re)insurer RenaissanceRe has reported a fourth-quarter net operating loss of $206.9m due mainly to a $313.9m net negative impact from hurricane Wilma.
Charman to quit Axis over divorce proceedings
Axis Capital Holdings has reported net income of $90.1m for the year ended December 31, 2005, compared with net income of $495m for the year ended December 31, 2004. The company also revealed chief executive and president, John Charman, would retire in…
XL Capital results hit by 2005 windstorms
XL Capital has reported a net loss of $821.9m for the quarter ended December 31, 2005, compared with net income of $288m for the same period of 2004.
Hannover Re writes 22% less US storm in overall flat renewal
Global reinsurer Hannover Re said it was “generally satisfied” with this year's treaty renewals in property and casualty reinsurance.
PartnerRe takes $900m 2005 Cat losses in its stride
Bermudian (re)insurer PartnerRe has reported an operating loss of $242.6m for the year ended December 31, 2005, including an estimated $900m in natural disaster losses and $511m for Hurricane Katrina alone.
White Mountains Re gets new CEO
Bermudian (re)insurance group White Mountains, has announced that Tom Hutton is joining the company as President and CEO of White Mountains Re.
Benfield to defend Lloyd's action
Benfield has responded to Lloyd's decision to take action against it over the ongoing Central Fund litigation
Hannover Re $370m Cat securitisation biggest ever
Hannover Re has placed a 3-year catastrophe bond with institutional investors worth some $370m.
Lloyd's in new Central Fund legal action against brokers
Lloyd's today announced it has commenced legal action against brokers Aon and Benfield.
TRIA not a long-term solution claims panel
The recent move by Congress to extend the Terrorism Risk Insurance Act (TRIA) did not provide the industry with the long-term solution it needs, according to an assessment of experts participating in a recent webinar sponsored by the Insurance Leadership…
Integro bags former Marsh Canada CEO
Sheldon Rankin, former Chairman and CEO of Marsh Canada, has been named Chairman of the Canadian arm of $300m broker start-up Integro.
Advent sees US property cat rates double
In a bullish trading statement Lloyd's property Cat specialist Advent has pointed to rate increases across all key accounts, and has reported exposed US property Cat rate increases of up to 100%.
Lloyd's to raise upper limit
Lloyd's is to raise the upper limit on two key realistic disaster scenarios from $70bn (£39.4bn) to ...