October 2006/1

A benign conclusion to the 2006 hurricane season could speed up the softening market for non-catastrophe exposed property casualty (re)insurance worldwide.

Integro Ltd announced last week a joint venture with risk specialists Indemnis Trade Risk Management. Integro said the deal would offer an array of trade risk management programmes to clients within North America. “We are enthusiastic about our firm's..

Benfield Corporate Risk announced the acquisition of a Norwegian marine and energy broker , Parisco AS, on 28 September. The sale will see Parisco AS and its subsidiary Parisco Marine AS, which had net assets of around £200,000 at the end of last year...

Failed (re)insurer GoshawK Insurance Holdings announced increased post-tax losses of £2.6mn for the first half of 2006, against a loss of £0.5mn in the prior-year period, the company revealed in its interim results on 29 September. “The group has...

Lloyd’s insurer Atrium reported a fall in pre-tax profits on 27 September with foreign exchange fluctuations blamed for the drop to £7.9mn for the first half of 2006, against £13.7mn in the prior-year period. In a story that has been repeated by many...

The International Underwriting Association (IUA) has elected Stephen Riley as its new chairman it announced today (2 October). Riley, an executive director and board member of Global Aerospace Underwriting Managers, takes over from colleague Tony Medniuk

Market information and analysis firm Advisen Ltd has teamed up with XML messaging specialist Web Connectivity Ltd in a combined offering it says will increase transparency and efficiency in the London market. Under the partnership, Advisen will...

Chaucer Syndicates Ltd has become the latest Lloyd’s insurer to unveil plans to build a Singapore platform. In a statement to the London Stock Exchange last week, Chaucer said it will appoint energy underwriter Chris Wildee as chief executive of the...

Paris-based investment bank Calyon has completed a $63mn securitisation, Pinnacle, which again demonstrates the industry’s growing enthusiasm to sell-on risk to the capital markets. The transaction was part of a $128mn programme of various cat bonds...

Although premium growth in China has exceeded all expectations in recent years the country’s insurance market is still in its infancy, according to a report by the reinsurance broker Benfield Group. Benfield said that total premiums increased strongly...

Bermuda-headquartered Catlin Group confirmed on 27 September that it is to enter into a catastrophe swap agreement that would provide it with coverage of up to $200.25mn for global natural catastrophes. The deal marks the first publicly rated...

Despite paying over $1bn in settlements and foregoing contingent commissions, the post-Spitzer picture is still not “rosy” for the big three brokers, according to a report by ratings agency Standard & Poor’s (S&P). The report entitled...