November 2006/1

American International Group (AIG), the world’s largest insurance company by value, was the latest firm to unveil strong third quarter results on the back of a benign 2006 claims environment.

Resurgent UK insurer Royal & Sun Alliance (R&SA) reported steady third quarter earnings with a group combined operating ratio of 93.1 percent and an operating result up 21 percent at £590mn (analysts’ consensus £592mn).

Zurich Financial Services (ZFS) has appointed the head of Royal Bank of Scotland (RBS) Insurance Annette Court to become the chief executive of its European General Insurance operations. Court, who will also become a member of the insurance giant's...

Bermudian-based energy mutual Oil Casualty Insurance Ltd (OCIL) was stripped of its key A- rating by Standard & Poor’s (S&P) earlier this week.

Reinsurance broker Walsham Brothers and Co is expanding its business with a new international and special projects division.

Willis Group Holdings has expanded its energy division by raiding rival Marsh Inc to appoint two senior executives to its New York based team.

Helix UK Ltd, the claims management firm owned by broking group SBJ Ltd, announced last week that it has won a new account from Duncanson & Holt Syndicate Management Ltd.

World Trade Center insurers won a ruling last Tuesday (31 October) that means they won’t have to pay out an additional $700mn to make the replacement buildings “bigger and better”.

The 1,700 policyholders who bought insurance from the unauthorised insurer CIC will receive compensation following a UK High Court decision last week.

Axis Capital reported strong third quarter earnings of $226.2mn last week but founding chief executive John Charman used the opportunity to warn over “irrational and unmonitored competition” which is fuelling downward pricing pressures in a number of...

UK regulator the Financial Services Authority (FSA) has begun to accept applications for sidecar-style insurance special purpose vehicles (ISPVs) from today (6 November), following approval of its proposals to make ISPVs more attractive.

Adam Golder, chief executive of fine art insurance specialist AXA Art UK, is to leave the company at the end of the year, Insider Week can reveal.