April 2006/1

Lexington Insurance, a property and casualty unit of American International Group (AIG) has announced that it will reduce its coverage of catastrophe-exposed areas by 20-25 percent this year. Florida, the Gulf Coast and California are among the...

Ratings agency AM Best has awarded a financial strength rating of A- (Excellent), with a stable outlook, to Hiscox Insurance Company (Guernsey) Limited. The agency said the rating was based on Hiscox Guernsey's "excellent risk-adjusted...

Hampden Private Capital is now one of only two remaining Lloyd's members' agencies after acquiring the Names' advisory business from CBS Private Capital. CBS, Hampden Private Capital and Argenta Private Capital, were the three existing Lloyd's...

Bermudian reinsurance start-up Ariel Re has recruited the head of ACE Energy, Chris Fisher, to lead its energy underwriting division. Fisher was chosen by ACE last year to head its new retail energy unit, ACE Energy, which offers property and...

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...

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...

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...