November 2009/2

Spanish competition authority the Comisión Nacional de la Competencia (CNC) has fined local insurers Asefa, Mapfre and Caser as well as leading global reinsurers, Munich Re, Swiss Re and Scor a total of EUR120mn for operating a cartel.

Rating agency Fitch said its concerns over reinsurers' ability to tap capital markets following a significant catastrophe have "sufficiently eased" after revising its outlook on the global reinsurance sector from negative to stable.

Marketform, the Lloyd’s insurer majority owned by the US firm Great American Insurance Group, is undertaking a significant reshuffle of its executive operations to improve its “corporate governance”.

So-called ‘mega-claims’ are now a common occurence in the power (re)insurance market, with almost half of the $9.85bn total loss recorded over the last ten years the result of just 16 claims.

UK insurer Brit has laid out the timetable for its redomicile to the Netherlands in a reorganisation that it is expected will see a new holding company listed on the London Stock Exchange on 21 December.

A hard core of companies who wrote reinsurance on the Sempra liability programme are continuing to resist payment, though no party in the acrimonious stand off has yet...

It’s the new buzz term in the industry's lexicon, but is it more than that? The Insurance Insider went all the way to Senegal to find out…

As the major brokers reported their Q3 results Aon was left defending the effect that its $1.4bn purchase of independent reinsurance broker Benfield in Q3 2008 had...

Scottish Lion appeal fast-tracked in bid for certainty while Minster scheme continues.

After just three years of underwriting, Bank of America is placing its Lloyd's syndicate in run-off, despite increasing capacity from £33.5mn in 2007 to £70mn for the...

As the Q3 financial reporting season draws towards its close, there is growing evidence that (re)insurers’ boards are under pressure to focus on capital management.

Time last year, as the financial crisis went global, credit spreads were ballooning, banks were crumbling and insurance companies were suffering heavy losses on...