January 2007/5
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Lloyd's has welcomed news from India that its Finance Minister may open the country further to international investment.
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The CEO of the UK regulator, the Financial Services Authority (FSA), announced he would be stepping down in July this year in an unexpected announcement on 16 January.
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Hardy Underwriting could become the next Lloyd’s insurer to re-locate to Bermuda and take advantage of its lower tax rates, according to its CEO.
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Bermudian-domiciled (re)insurer Omega Insurance Holdings is to launch a $30mn offshore energy account for its Lloyd's Syndicate 958 this year, it announced in a trading statement last week (16 January).
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It was a case of "no wind, no problem" for reinsurers during the recent renewal season, according to a report published last week by reinsurance broker Benfield Group.
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UK insurer Royal & Sun Alliance Group plc's (R&SA) attempt to cut itself free from its US run-off business was heard at a public meeting last Friday (19 January).
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After a weekend of heavy legislating, Florida’s lawmakers have hammered out a bill to provide rate reductions on homeowners’ insurance costs which is likely to have a significant impact on the US property & casualty industry.
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Swiss Re, the Zurich headquartered reinsurer which is pioneering the industry’s collaboration with the capital markets, has called on the creation of a new index for European natural catastrophes.
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The Reinsurance Association of America (RAA) has called for comprehensive regulatory reform for reinsurance this year.
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AXIS Insurance chairman Dennis Reding is to take up the position of chief operating officer at AXIS Capital as the Bermudian firm restructures.
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The preparatory hearing of the ‘Independent Three’ former directors of the collapsed UK insurer Independent Insurance took place at Southwark Crown Court this morning (22 January).
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Insured US catastrophe losses were down to $9bn last year, according to figures published by ISO’s Property Claim Services (PCS) on 16 January.
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Bermudian (re)insurer White Mountains Insurance Group announced today (22 January) that Ray Barrette has taken over from Steve Fass as CEO and Jack Byrne as chairman.
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Nick Frankland, has been appointed as CEO of reinsurance broker Guy Carpenter’s UK operations following David Priebe’s return to the US as head of Global Specialty Group.
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A group of reinsurers which have been joined to Allianz over legal proceedings regarding a controversial North Korean claim have refused to acknowledge the lawsuit.
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The acquisitive broker USI Holdings Corp has itself succumbed to a take-out offer after agreeing terms with the private equity arm of Goldman Sachs & Co last week.
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Law firm Barlow Lyde & Gilbert (BLG) announced today that insurance dispute specialist Maurice Kenton will join the firm as a partner.
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Senior management at Windsor plc, the UK-quoted insurance broker, made public the terms of their £33.7mn acquisition proposal for the firm this morning (22 January).
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Hannover Re has re-visited the capital markets in order to boost its Kaith Re "K5" securitisation to $520mn and expand its underwriting capacity.
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Validus Holdings Ltd and Greenlight Capital Re Ltd became the third and fourth reinsurers formed after Hurricane Katrina to confirm plans for initial public offerings (IPO).
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Run-off services provider CMGL announced on 19 January that it has been appointed to provide claims management services for ICM Syndicate 4242.
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Catastrophe risk modelling firm AIR Worldwide has estimated insured losses from windstorm Kyrill will be $5.2-10.4bn.
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The board of US giant American International Group (AIG) has elected Dan Glaser as senior vice president, Foreign General Insurance.
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London-based reinsurance broker Cooper Gay has announced that Jeremy Goodman, the managing director of its US-based Cooper Gay Steele reinsurance broking operation, will leave the company for personal reasons.
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Lloyd's insurer Atrium announced the launch of a Financial Services Authority-regulated company to underwrite space risks on 16 January.
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