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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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  • Lloyd's underwriting veteran Roger Field has been appointed to the board of Omega Underwriting Agents Ltd, the Lloyd's managing agent of Omega Insurance Holdings, The Insurance Insider has learned.
  • Despite ratings agencies actively favouring the diversified (re)insurer model in the years after Hurricane Katrina in 2005, the most successful stock market performers in the period have actually been those that have specialised.
  • Industry-wide, (re)insurers are not recognising a reserve deficiency that has been steadily building on their books, while some players are haemorrhaging internally and masking the problem from the outside world.
  • The all-share merger between Bermudians Max Capital and Harbor Point has completed this evening to create a $2bn gross written premium (re)insurer Alterra Capital.
  • Contingent commissions should not be seen as the "litmus test" of potential conflicts of interest for brokers because all carrier revenue streams have the potential to cause similar divergences in interest.
  • Lloyd's and international (re)insurer Beazley has reported a first quarter increase of almost 20 percent in gross written premium (GWP), driven largely by acquisitions in property and reinsurance lines.
  • Allianz's net income smashed through analyst expectations today (12 May), fuelled by higher-than-expected capital gains.
  • State governor Charlie Crist is still yet to decide whether he will veto an industry-backed insurance bill voted through in the dying moments of the Florida State legislative session at the end of April.
  • International specialty (re)insurer Catlin Group has reported divergent Q1 premium growth performance, as it grew business strongly in Bermuda and at other locations from its main London hub while shrinking premium volumes written from the UK.
  • Bermudian (re)insurer Allied World reported a modest increase in net income for Q1 2010 despite catastrophe losses of $86.5mn, thanks to reserve releases and strong investment gains.