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.

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

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...

An “outstanding year” to date in its property & casualty operations contributed to investment conglomerate Berkshire Hathaway reporting third quarter net earnings of $2.77bn on Friday (3 November)...

Liquidators for failed Australian insurance company HIH have been given the go-head to sue Lloyd’s Limit Syndicate 386 for Aus$54mn.

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.

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

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.

Hiscox will depend on up to £87.5mn of qualifying quota share capacity next year as its flagship Lloyd’s Syndicate 33 expands to a record size of £962.5mn, according to a business plan submitted to Lloyd’s.