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July 2007/5
  • ARC makes additions to board
    The Association of Run-Off Companies (ARC) has announced a number of changes to its board adding three new appointments while its deputy chairman, Peter Abbott, has stepped down.
    23 July 2007
  • Rates continue to fall on financial and professional risks
    London market professional risks insurers have continued to suffer falling rates during the second quarter of 2007, with reductions of up to 20 percent in the period for directors and officers (D&O) risks, according to broker Willis.
    23 July 2007
  • Unitas snares Boucher to drive underwriting agency
    Broking network Unitas Alliance has confirmed the appointment of former Endurance Worldwide Insurance Ltd CEO Mark Boucher as non-executive chairman of its new underwriting agency, as revealed in the July issue of The Insurance Insider.
    23 July 2007
  • Hiscox acquires kidnap and ransom business
    Lloyd's insurer Hiscox plc has acquired a portfolio of kidnap and ransom business from the broker Aon Ltd.
    23 July 2007
  • Belgian losses at EUR213mn from Kyrill
    Insured losses in Belgium from January’s Windstorm Kyrill have reached EUR213mn, according to the Belgian insurer association Assuralia.
    23 July 2007
  • Consumer group attack Allstate rate rises
    The Consumer Federation of America (CFA) accused US insurer Allstate Corp of excessively raising home and auto insurance rates and using questionable practices to settle claims.
    23 July 2007
  • Brazil air disaster likely to have only local impact on rates
    Aviation (re)insurance rates in Brazil are set to rise following the second major accident in under a year.
    23 July 2007
  • Capita CMGL confirms D&H open year deal
    Capita CMGL has confirmed the reinsurance to close (RITC) transfer of the run-off Duncanson & Holt Syndicate 55 to a new Lloyd’s syndicate backed by CarVal Investors LLC, as first revealed in the July issue of The Insurance Insider.
    23 July 2007
  • Bermuda’s (re)insurers expected to ride storms as Q2 figures roll out
    Although (re)insurers are expected to unveil strong figures as the reporting season begins in earnest this week, analysts will assess the wider impact from high-profile second quarter catastrophe events in the UK and Australia following IPCRe’s...
    23 July 2007
  • GLM scheme sanctioned by court
    A solvent scheme of arrangement for the reinsurance business written through the GLM Pool was sanctioned by the UK High Court in London earlier this month.
    23 July 2007
  • AIG faces $100mn Minnesota lawsuit
    Insurance giant American International Group (AIG) is facing lawsuits from two Minnesota workers compensation insurance associations seeking $100mn in damages for alleged fraudulent business practices, according to reports.
    23 July 2007
  • Shares slip as analyst says Everest summit reached
    Shares in Bermudian reinsurer Everest Re Group Ltd slipped after a Bear Stearns analyst downgraded the company on "limited growth opportunities and declining profitability".
    23 July 2007
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