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Company Example A

Overview
Content
Data

Company type

Insurance-Linked Securities (ILS) and Investment Managers

Miscellaneous

Founded
1896

Major offices

Zurich, CH (headquarters)
Nassau, BS

Officers

Smedley MacGuffin (CEO)

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  • Following on from last month’s 25 percent share price fall on news of deterioration from its run-off US legacy exposures, Lloyd’s insurer SVB released mixed results in its latest interims.
  • US property/casualty insurers prospered in the first half of 2004, posting underwriting profit of almost $9bn, substantially up on the same period of 2003, according to a report published today (20 September) by ratings agency AM Best.
  • A trend gathering pace? Benfield Group has become the latest broker to recruit from a reinsurer with the appointment of former Swiss Re chief Patrick Murphy-O’Connor to its management team.
  • The London headquartered outsourcing firm Xchanging has been chosen by Arch Insurance Company (Europe) Ltd to run the company's back office requirements.
  • Motor insurer Highway Insurance Holdings said it had achieved a profitable first half in 2004 despite tougher market conditions and exceptional costs of £1.6mn relating to its failed merger with Cox insurance earlier in the year and in respect of the FSCS
  • Guy Carpenter has recruited marine specialist Tony Pointing, until recently the head of Aon's ReSpecialty Marine and Energy team in London, to become the new head of the reinsurance broker's Marine and Energy Non-Americas division.
  • Bermudian (re)insurer has announced its intention to enter aviation insurance from 2005.
  • Bermuda’s (re)insurers continued to build their balance sheets in the second quarter on the back of another strong earnings period.
  • On the eve of the Lloyd’s insurers’ interim financial results, a leading insurance analyst has reminded investors that there is still merit in investing in the stocks for both capital gains and income.
  • The reinsurance intermediary Benfield Group is set to reverse the trend of staff departures by revealing that it has recruited a four strong, London based international casualty team from rival Aon Re.