August 2007/3
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Insurance stocks remain volatile as a result of erratic trading on global financial markets, which saw most major indices plummet.
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Forecaster Tropical Storm Risk (TSR) has lowered its latest North Atlantic hurricane season prediction from 40 percent above normal activity to 35 percent.
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Broking giant Marsh is set to resume taking fees from insurers for some of the services it provides customers.
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Andrew Carrier, the former active underwriter of Kiln’s Lloyd’s Syndicate 557 and the reinsurance division of its Syndicate 510, will join Bermudian firm Peleus Re later this year.
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Newly-listed Bermudian (re)insurer Validus Holdings’ reported a strong set of inaugural results as a public company last week.
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The UK’s largest privately-owned insurance group, Towergate Partnership (Towergate) announced a 31 percent increase in gross written premium despite softening market conditions.
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Bermudian firm White Mountains Re has appointed Dwight Evans, the former head of Arch Worldwide, as executive vice president.
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Reinsurance broker Guy Carpenter has appointed Rupert Bedford as head of broking for the UK operations of GCFac, the firm's dedicated facultative reinsurance unit
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The average premium per airline renewal this year has dropped $1mn in comparison with last year, according to a report by Aon Aviation.
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Berkley Insurance Co, a subsidiary of US (re)insurer WR Berkley, is opening an Australian operation to write casualty facultative and treaty reinsurance.
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UK Bank HBOS plc has appointed the Aon UK chief operating officer Philip Gore-Randall to join the firm as part of a wider restructuring of its management.
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Lloyd’s investment vehicle Hampden Underwriting plc (HUP) is planning an August float on the London Stock Exchange’s Alternative Investment Market (AIM) in a bid to raise £15mn.
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Highly leveraged insurance brokers and service providers are subject to high credit risk and may face downgrades, rating agency Moody’s Investor Services warned last week.
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The independent UK broker Heath Lambert Group plc has appointed corporate financiers Hawkpoint Partners to advise on options which could involve a refinancing to pay down debt and raise capital or a complete sale, The Insurance Insider revealed last week.
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“Class of 2005” start-up Flagstone Reinsurance Holdings Ltd reported Q2 profits hit by $31mn losses from the UK floods in June and $23.5mn from the Australian storm and flooding.
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Bermudian Arch Capital Group has struck back at Gen Re in the latest round of the legal dispute over the departure of four Gen Re executives to Arch in April.
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Marsh & McLennan Companies Inc (MMC) reported slow second quarter revenue growth in its broking division as new business wins were offset by the softening commercial (re)insurance market.
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French (re)insurance giant AXA reported strong first half results for 2007 on a comparable basis with 2006, boosted further by the successful integration of Winterthur.
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German (re)insurance group, Allianz has raised its estimate for the UK’s summer floods by EUR135mn to EUR158mn in total for June and July.
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UK (re)insurer Aviva reported heavy losses of £235mn for the UK floods in June, dwarfing those of competitor Royal & Sun Alliance (R&SA), which reported flood losses of £55mn for the second quarter.
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Despite increasing second quarter profits by 45 percent to SFr1.2bn over the prior-year, world’s largest reinsurer Swiss Re failed to impress analysts with its figures.
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Consultancy Towers Perrin has announced that its chairman, John Goldsmith, is to step down from the post and retire.
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Despite signs earlier in the year that demand was drying up for the vehicles, a new model of sidecar is emerging, with the recent launch of Mont Gele Re and Emerson Re.
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Giant US insurer American International Group (AIG) has entered into an agreement to acquire Wurttembergische und Badische Versicherungs-AG (Wuba), its subsidiaries including DARAG Deutsche Versicherungs- und Ruckversicherungs-AG (DARAG) from associates o
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