April 2006/1

Energy mutual OIL has responded to last year's hurricane losses and spiralling premium costs by cutting coverage in half to a $500mn aggregation limit for multiple claims from a single occurrence. The company has also suggested it may look to...

Reinsurance broker Benfield Group has announced the successful completion of its first electronic transfers of reinsurance submissions using peer-to-peer standard messaging with some of Lloyd's "gang of six". The "gang of six", or G6, comprises an...

Lloyd's has given distressed insurer Quanta Capital Holdings a deadline to inject new capital into its Syndicate 4000 or face the business being closed by year-end. The Bermudian headquartered insurance group revealed in a Securities & Exchange...

Embattled reinsurer PXRE Group Ltd revealed the damage slumping out of the A-rating range has already inflicted on its business, with a third of its clients cancelling contracts on 1/1 in-force business as of 13 March 2006. In a 16 March SEC filing...

German insurance giant Allianz has poached GE Insurance's global aviation head Florian Karner to join the firm's Munich headquarters, Insider Week can reveal. The news comes only a week after Allianz itself lost its London Market aviation chief...

Keith Rutter has returned to frontline duties in the London market this week by joining Oxygen Insurance Brokers. Rutter, the former head of Independent Insurance’s London market operations, together with his ex-colleague at NCG Professional Risks...

The unlikely alliance between industry titans Maurice "Hank" Greenberg and Warren Buffett has led to the former AIG chief executive establishing an aviation underwriting platform in Lloyd's. Redholm Underwriting Agents began underwriting on behalf...