November 2009/2
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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.
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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.
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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”.
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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.
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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.
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The share price of UK-quoted Randall and Quilter (R&Q) had fallen by 15.02 percent to 107.5p at the time of writing in the wake of today’s crucial LMX-related High Court judgment against the run-off management firm.
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Lloyd's lead (re)insurance stocks down; Valuations falter; Gap narrows further between Lloyd's and Bermuda.
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Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP.
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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...
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Scottish Lion appeal fast-tracked in bid for certainty while Minster scheme continues.
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Time last year, as the financial crisis went global, credit spreads were ballooning, banks were crumbling and insurance companies were suffering heavy losses on...
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Former Benfield Group chairman is frontrunner...
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