February 2009/3

Swizerland-based Paris Re's hopes for hiked reinsurance prices at the key 1/1 renewals were not fully realised with "meaningful increases”"only apparent in classes affected by losses, as loss free programs were...

Bermudian (re)insurer IPCRe saw its 2008 operating income fall by a relatively modest 19 percent to $258.7mn, compared to $317.9mn in 2007, as it revealed a loss ratio for the year of 40.2 percent.

QBE Europe confirmed last week it is to acquire the renewal rights and to the portfolio of mainly UK industrial and commercial property business written by Endurance Worldwide Insurance Ltd from London, taking on 30 Endurance employees in the process.

Aon appoints new non exec chairman...

Munich Re has progressed from its iconic world map of natural hazards which first appeared in 1978 and pooled its research in the field of geo-risks onto digital format in the form of a DVD.

Despite concerns over its Standard & Poor's rating, Bermudian Everest Re saw its share price jump last week after its Q4 operating performance outstripped analysts' expectations.

Insurers hoping for successful subrogation against Boeing in a long-running battle over the defective 702 series satellites have been dealt a blow after an International Chamber of Commerce (ICC) arbitration panel ruled in favour of the aerospace manufacturer.

Practitioners in the global run-off space expect the global credit crunch to be a significant driver of new business in 2009.

XL Capital ended its annus horribilis with a net loss of $2.63bn as the Bermudian (re)insurer’s CEO Michael McGavick warned of a "meaningful reduction" in gross written premium in 2009 and plans to cut its current workforce by 10 percent.

Venture capital partnership Alpine Risk Services has launched to finance insurance broking, underwriting agency and ancillary insurance firms, committing sums of up to £10mn directly or with investment partners, The Insurance Insider can reveal.

The International Underwriting Association (IUA) today celebrates 10 years since its formation after the merger between the London International Insurance and Reinsurance Market Association (LIRMA) and the Institute of London Underwriters (ILU) in 1999.

Class of 2001 (re)insurer Endurance joined the growing throng of reinsurers reporting sizeable drops in net income for 2008 as the impact of investment losses and the brunt of Hurricane's Gustav and Ike continue to slice through industry earnings.