Reinsurance
Marsh sees H1 growth in broking reveune and profit
Marsh has reported a 5% rise in the underlying reveune in its risk and insurance business to $3.3bn for the six months to 30 June 2011 (H1 2010: $2.95bn).
Lloyd’s pursues own probe into Equity syndicate losses – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including Lloyd’s decision to begin investigating Equity syndicate’s reserve deterioration. A Names protest group says the outcome should prove influential to its own…
Amlin expects to fall short on profit expectations
Amlin bosses have admitted the company is unlikely to meet end of year profit expectations, claiming that an “unprecedented level of catastrophes” have severely impacted performance.
AIG and Gen Re convictions overturned
A US appeals court has overturned the fraud convictions of four former General Re executives and a former AIG official and has ordered a retrial.
Exclusive IP and catastrophe articles now live
Insurance Insight’s weekly update is live with articles on intellectual property and natural catastrophes.
Aon reports 3% organic growth in American and international broking arms
Aon today announced its revenue increased 48% to $2.8bn for the second quarter of 2011 compared to the prior year quarter, due to a 42% increase in commissions and fees resulting from acquisitions, primarily that of Hewitt.
View from the Top: Threat from wave of natural catastrophes?
The spate of natural catastrophes around the world shows no signs of abating.
Munich Re transfers European windstorm risks to capital markets
Munich Re has acquired coverage for European windstorm risks with volume of $150m from Queen Street III Capital, which in turn has placed a catastrophe bond for this amount on the capital markets.
Danish government asks TRIA broker to review local terrorism capacity
US RE, the international reinsurance broker, has been selected by Finanstilsynet, the Danish Insurance Supervisory Authority, to conduct a study of terrorism risk reinsurance capacity in the Danish market.
JLT transformation programme exceeds expectations as profits and revenues rise
JLT has recorded a 9% leap in total revenue for the first six months of 2011 to 411.3 (H1 2010: £377.8m) and 8% rise in underlying trading profit for the same period at £76.1m (H1 2010 £70.7m).
Validus spurned in bid for Transatlantic shareholding
Transatlantic Holdings today announced that its board of directors has unanimously determined to recommend that stockholders reject Validus' offer to acquire all the outstanding common shares in the business.
Aspen records $128.7m operating loss at the half year
Aspen this morning reported a combined ratio of 105.0%, or 89.2% excluding catastrophe losses for the second quarter of 2011, compared with a combined ratio of 86.9% for the second quarter of 2010.
Swiss Re breaks protocol to deny Quinn links as regulators probe claims
The Malta Financial Services Authority and Irish financial regulator, Central Bank of Ireland, are in discussions to establish how stories surfaced that Quinn Insurance founder Sean Quinn was set to return with a new underwriting vehicle, Post has…
BMS: US reinsurance focus after buy out
BMS bosses have vowed to switch the company focus towards the US reinsurance market following the news that the broker has reached an agreement to buy out its only external shareholder AHJ Holdings.
Post Magazine – 28 July 2011
This week the Post team reports on the confusion over reports in the Irish press that Quinn Insurance founder Sean Quinn has acquired a Malta-based insurance licence and as set to launch new company Q2 in competition with his former business which fell…
Swiss Re denies Quinn links as regulators probe claims – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories.
Ace reports 40% fall in net income at the half year mark
Ace has recorded net income of $607m (£370) in the second quarter of 2011, a drop of 10% on Q2 2010.
Lancashire to redomicile from Bermuda to the UK
Lancashire Holdings today announced that it plans to move to UK tax residency.
Scientific research improves extreme weather planning
Insurers and commodity markets can make better risk decisions thanks to increased scientific knowledge about the twin climate cycles, El Niño and La Niña.
AM Best Europe recruits new MD
Stefan Holzberger has joined AM Best’s European business in the role of managing director, analytics.
Brit still in profit at H1 2011 despite 15.5% COR hit for major claims
Brit Insurance has this morning reported that its profit before tax was £6.8m for the first six months of 2011 (30 June 2010: £77.5m). Excluding the effect of foreign exchange on non-monetary items it was £1.6m (30 June 2010: £72.8m).
RFIB recruits new international boss from Price Forbes
RFIB Group, the Lloyd’s insurance and reinsurance broker, has recruited Andrew Hutchings as divisional director in RFIB International.
Mapfre Re financial strength rating affirmed
AM Best Europe has affirmed the FSR of A+ (superior) and issuer credit rating of “aa-” of Mapfre Re, Compania de Reaseguros, SA. The outlook for both ratings remains negative.