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January 2009/2
  • Hardy 2008 profits up ‘at least’ 20%, bullish for ’09
    Lloyd’s (re)insurer Hardy has issued a bullish trading statement about prospects for 2009 whilst informing investors that its full-year 2008 results will be ahead of market expectations, with profit before tax of “at least £22mn”, buoyed by lower Ike esti
    03 February 2009
  • Starr offering additional North American capacity
    CV Starr & Co subsidiary Starr Specialty Lines Insurance Agency has formed an alliance with Zurich Financial Services Group’s US subsidiary Zurich North America Commercial (ZNAC) to offer additional capacity on...
    30 January 2009
  • Argo hires XL execs to run new casualty division
    Bermudian (re)insurer Argo Group International Holdings has launched a casualty and professional risks division headed by former XL executive Nigel Mortimer to sit in its Argo Re operation on the island.
    30 January 2009
  • Arch more than doubles Ike estimate
    Bermudian (re)insurer Arch Capital Group Ltd has become the latest company to add its name to the growing list of those with significantly revised losses from Hurricane Ike, with an increase of $160mn in its net loss estimate. Its previous net loss estima
    29 January 2009
  • Willis Re hires senior Carvill management
    Willis Re has hired 17 specialty casualty reinsurance brokers from RK Carvill & Co, including its senior management, The Insurance Insider understands.
    28 January 2009
  • Novae confirms Chaucer approach
    Lloyd's insurer Novae Group has confirmed that it has approached fellow London firm Chaucer Holdings to open talks over a possible merger.
    27 January 2009
  • Chaucer's share price leaps following offer
    Chaucer - the Lloyd's insurer trying to fund raise in a bid to bolster its balance sheet and take advantage of improving rates - has seen its share price leap 35 percent this afternoon after receiving an "un-solicited indicative proposal".
    27 January 2009
  • Milton sentenced to four years over $500mn finite fraud
    Former American International Group (AIG) executive Christian Milton was handed down a four-year custodial sentence and given a $200,000 fine for his role in the $500mn finite reinsurance fraud involving AIG and Berkshire Hathaway-owned reinsurer General Re.
    27 January 2009
  • Lloyd’s insurer recruits former Swiss Re UK head
    Former Swiss Re GB CEO Tim Carroll has been unveiled as the new underwriting director at Lloyd’s (re)insurer Canopius Managing Agents Limited.
    27 January 2009
  • Ironshore and CV Starr form joint venture
    Ironshore Inc has formed a joint venture with CV Starr & Co to create Iron-Starr Excess Agency Limited, a Bermudian-based specialty lines (re)insurance managing general agency.
    27 January 2009
  • Hannover Re buys $1.2bn US life book from Scottish Re
    Hannover Re has agreed to buy a book of US life reinsurance business from Scottish Re with estimated premium volume of $1.2bn in what it described as a “transformational step” for its global life unit.
    23 January 2009
  • Swiss Re shares slump 43 percent on week
    Swiss Re has led the slide in European insurance stocks today as its share price fell more than 20 percent amid concerns that it is set for a further round of heavy writedowns when it reports its fourth quarter 2008 figures next month.
    23 January 2009
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