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July 2008/4
  • (Re)insurance stocks fall sharply again
    (Re)insurance stocks on both sides of the Atlantic have plunged in trading as fears continue to linger over damage to the financial services sector from the fallout of the sub-prime and credit related crisis.
    29 July 2008
  • Fusion founders step down
    Two of the founders of Towergate subsidiary Fusion Insurance Services, Kevin Pallett and Geoff Crisp have stepped down from the company.
    28 July 2008
  • Normal tropical cyclone season, predicts Guy Carpenter
    Despite a widely predicated active hurricane season in the Atlantic, reinsurance broker Guy Carpenter is not expecting a particularly turbulent year for cyclone activity in the Pacific.
    28 July 2008
  • Amlin follows Lloyd's insurers into US
    Amlin plc has become the latest Lloyd's insurer to enter the US market after announcing the establishment of a representative office in Illinois taking advantage of Lloyd's admitted licence to operate in the state.
    28 July 2008
  • Scottish Re plunges further into junk territory
    Rating agency AM Best has downgraded the financial strength rating of Scottish Re Group Ltd, plunging the embattled reinsurer further into junk territory.
    28 July 2008
  • ILWs are a 'mini hard market'
    US national carriers and Florida-only insurers created a surge in demand for Industry Loss Warranties (ILWs) last month, according to Jim Bryce, president and CEO of Bermudian cat specialist IPCRe.
    28 July 2008
  • ARIG first half profits drop
    Arab Insurance Group (ARIG) saw its first half net profits slide as both underwriting and investment income deteriorated.
    28 July 2008
  • HCC and former CEO settle SEC investigation
    US insurer HCC Holdings, its former CEO Stephen Way, and its former General Counsel Christopher Martin have finally reached a settlement with the US regulatory authorities relating to a dispute alleging violations over stock-options backdating.
    28 July 2008
  • Tokio Marine continues global expansion with Philadelphia move
    The expansive Japanese insurer Tokio Marine & Nichido Fire Insurance Co's acquisition of non-life insurer Philadelphia Consolidated Holding Corp (PCHC) will help the company to strengthen its overseas property and casualty (P&C) businesses...
    28 July 2008
  • Novae parts with specie underwriter
    The head of Novae Syndicate 2007 specie and cargo units, Keith Nichols, is leaving after just two months at the firm, The Insurance Insider understands.
    28 July 2008
  • Dolly's cost less than feared
    Flood damage and business interruption losses are likely to make up the largest proportion of insured losses after the first hurricane of the 2008 season hit the North American mainland.
    28 July 2008
  • Aon's Middle East expansion continues
    Aon Middle East has been authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) to operate in Qatar.
    28 July 2008
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