Reinsurance
Globale Re run-off troubles continue
The year 2004 was the latest in a series of difficult business years for Globale Re, which has been in run-off since 2002.
Gulf of Mexico braces itself for another tropical storm
The Gulf of Mexico is bracing itself for another tropical storm. Hurricane Wilma was ploughing north...
Fuelling renewal
Baden-Baden
Appointment at Cooper Gay
Cooper Gay has announced that Bridget Wortman and Beth Trautman have joined as senior vice-president...
Wellington Underwriting increaases capacity of syndicate
Following a further review of current market conditions, Wellington Underwriting has increased the c...
Transatlantic Holdings announces preliminary estimates
Transatlantic Holdings has announced preliminary estimates for Hurricane Rita to be $33m (£18.9m). I...
AM Best condemns Rosemont Re to near certain run-off
AM Best has downgraded the financial strength rating of Rosemont Re three notches to B (fair) from A- (excellent). Both ratings have been removed from under review and assigned a negative outlook.
Catlin estimates Rita Losses
Catlin Group has completed its initial review of loss estimates from Hurricane Rita and has reviewed its loss estimates from Hurricane Katrina.
Moody’s eyes Ren Re for possible downgrade
Moody's Investors Service has announced that it is continuing its review of Renaissance Reinsurance (A1 insurance financial strength) and RenaissanceRe Holdings (RNR; senior unsecured at A3) and its affiliates for possible downgrade.
Transatlantic takes $33m for Rita and ups Katrina loss
Transatlantic Holdings has said that its preliminary estimate of net after-tax losses from Hurricane Rita to be $33m after tax basis in 2005. In addition the firm has updated its third quarter net after-tax catastrophe losses at $224m which it says…
AM Best confident US insurers can absorb catastrophe losses
The U.S. general insurance industry recorded an underwriting profit of $13.2bn (£7.5bn) during the first six months of 2005, a substantial gain from the record results posted during the comparable period of 2004, said A.M. Best.
Glacier Re to raise $100m in equity
Glacier Reinsurance has announced that existing shareholders have subscribed for additional equity of US$ 100 million, through its holding company Glacier Re Holdings. The equity issue will increase the underwriting capital of the company in order to…
AIG donates money for quake relief
American International Group, (AIG) has announced that it is donating $1m to support relief efforts in the areas affected by the October 8 earthquake in South Asia.
Does the insurance cycle really need to look good?
Criticism comes with the territory. Whether you're part of the England football squad or your neighb...
Katrina: costliest catastrophe
Risk Report
What the papers said this week
The Independent David Ashbrooke, an executive at Zurich Financial Services, claims to have been for...
Warning over captive credit risk
Risk Report
Axa chief: climate change action call
Axa UK chief executive Peter Hubbard has issued a call to arms for stakeholders and society to addr...
S&P places IPC on CreditWatch
Standard & Poor's Rating Services (S&P) has assigned its 'BBB+' counterparty credit rating to IPC Holdings and placed the rating on CreditWatch with negative implications.
Kiln sees 12.5% rate rise, edges Katrina loss upwards
Following hurricanes Katrina and Rita, Lloyd’s (re)insurer Kiln says it is seeing good rate rises in many of its core classes of business, most notably in its property catastrophe reinsurance, property and marine portfolios and now expects average rate…
Wellington to further increase 2006 capacity to £800m
Following further review of current market conditions Wellington Underwriting Agencies is increasing the 2006 capacity of its Lloyd’s Syndicate 2020 to £800m — up from £730m for the 2005 year of account.
Aspen share offering raises $400m
Aspen Insurance Holdings has announced that it has closed its previously announced public offering of 17 551 558 ordinary shares at $23.00 per share, raising aggregate net proceeds of approximately $400m.
Integro hires duo in San Francisco
Integro has hired two executives to serve in its San Francisco office. Michael J Korn has been appointed managing principal, Property Practice, and Ted Doolittle has been appointed principal, Executive Risk Practice.
Max Re Capital taps market for $250-$300m
Max Re Capital has joined the increasingly long list of companies that are raising new capital in the aftermath of Hurricane Katrina by issuing shares.