Reinsurance
The market divide sees 'Old Europe' come into its own
Mark Geoghegan sees the wily old guard of reinsurance running strategic rings around the opposition in 2006
Ratings and capital round-up
The end of 2005 and the start of 2006 were busy times for the reinsurance market, as it coped with a...
Don't always expect fair play
Re-sume
Civil unrest
Civil commotion
That didn't hurt!
Dear friend, The toughest and most exciting renewal season for five years has come and gon...
Validus Re hits the ground running
New Bermudian reinsurer Validus Re has announced that it has bound business representing gross written premiums of $220m after just over a month of operations.
Hurricanes and 12.3% premium drop plunge Everest $218m in red in 2005
A 12.3% drop in net premiums combined with massive fourth-quarter hurricane losses have forced Bermudian (re)insurer Everest Re to report a combined ratio of 120% and a 3.1% fall in shareholders’ funds for 2005.
AM Best downgrades and withdraws Alea ratings
AM Best has downgraded the financial strength rating to B (Fair) from B++ (Very Good) and the issuer credit rating to “bb” from “bbb” of the insurance and reinsurance operating subsidiaries of Alea Group Holdings (Bermuda).
2005 hurricanes firm US property market, claims RIMS survey
US property insurance rates increased sharply in the fourth quarter of 2005, according to the RIMS Benchmark Survey.
AXIS director resigns
Bermudian (re)insurer AXIS Capital Holdings has announced that Edward J. Kelly, III has resigned from its Board due to guidelines recommending that CEOs of publicly-traded companies serve on no more than two public boards outside their own board.
Lloyd's to up key disaster limits by 42% in 2006
Lloyd's of London is to raise the upper limit on two key Realistic Disaster Scenarios (RDS) from $70bn to $100bn in the light of the record Hurricane losses sustained in 2005.
Montpelier Re poaches ACE execs to fill top finance vacancy
Bermudian (re)insurer Montpelier Re’s parent holding company has today announced that effective February 1, 2006, William Pollett has been appointed treasurer and senior vice president and that Neil Greenspan has been appointed chief accounting officer…
Markel International COR rises to 126%
Insurer Markel has reported the 2005 hurricanes impacted its combined ratio to the tune of 12%. Net income was $14.80 (£8.40) per diluted share for the year ended 31 December 2005 compared to $16.41 per diluted share in 2004.
Arch joins capital raising with $200m offering
Bermudian (re)insurer Arch Capital Group has announced that it is to raise $200m via an underwritten public offering of preferred stock.
Finite risk coverage affirmed by NY Insurance Department
The legitimate utilization of multi-year, catastrophe, excess-of-loss reinsurance contracts that can be classified as finite risk coverage has been reaffirmed by the New York Insurance Department in a letter to US RE Corporation, according to Tal…
Swiss Re may axe up to 150 UK jobs after merger
Reinsurance giant Swiss Re could axe up to 150 jobs from its UK workforce, following the completion ...
Appointment at GAB Robins
GAB Robins has appointed Trevor Cameron, pictured, as managing director, London market. He will repo...
Out in the cold
Climate Change
Blowing in the wind
Climate Change
Heath Lambert releases market report
Broker Heath Lambert has released its annual insurance report, “State of the Market 2006: a view of the insurance landscape”. The report provides an overview of the key markets Heath Lambert operates in, analysing trends from the past year and…
Revios Re has ratings affirmed by AM Best
AM Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Revios Rueckversicherung AG (Revios) (Germany). The outlook for both ratings is stable.
Omega CEO gets 1.5m share incentive
Lloyd’s and Bermuda (re)insurer Omega has granted its CEO Richard Tolliday nil-cost options on 1.5m ordinary shares under a long-term incentive plan.
AM Best affirms Glacier Re
AM Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-”of Glacier Reinsurance AG (Glacier Re) (Switzerland). The outlook for both ratings remains stable.