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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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  • French firm Scor has joined the list of reinsurers targeting the emerging market for longevity risk swaps, as pension funds face up to uncertainties around life expectancy data.
  • French insurance giant Axa has re-approached the capital markets with its fourth motor insurance securitisation, issuing EUR97.9mn in the latest Series D notes from its Sparc Europe shelf facility.
  • CRC Insurance Services and Ryan Specialty Group (RSG) will lock litigating horns in April next year if a US judge agrees to a plan submitted by the former to launch charges of conspiracy and poaching against its rival.
  • Allianz's US P&C subsidiary, Fireman's Fund Insurance Company, is to increase its asbestos and environmental risk (A&E) reserves by $301mn following a review of their adequacy.
  • Although airline insurance rates were flat-to-down at the July renewals, the market is finally heading into a return to profit after three years of turbulence, reports Aon.
  • Lloyd's CEO Richard Ward has dismissed suggestions that his chairman Lord Levene of Portsoken will step down early to concentrate on his new retail banking venture.
  • Global specialty insurer Ace added 5 percent to its share price in trading on Friday (9 July), as the stock was buoyed by the announcement that it would rejoin the Standard & Poor's (S&P) 500 share index.
  • The UK's Financial Services Authority (FSA) has banned three insurance executives who defrauded Markel International Insurance and QBE (Europe) in 2005 while acting as coverholders for surety bond business.
  • The legislative gridlock that left US homeowners unable to buy or renew flood cover has been lifted after lawmakers approved a temporary reauthorisation of the National Flood Insurance Program (NFIP) to 30 September.
  • GoshawK and Alleghany - two of the most spectacular failure to occur on the Lloyd's Central Fund - are closer to being finally reinsured