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October 2008/4
  • FSA prepare for crisis in UK insurance sector
    UK regulator the Financial Services Authority (FSA) is assembling a crisis team of advisers amid fears that the insurance sector is the next to be engulfed by the financial storm that has brought the banking sector to its knees.
    29 October 2008
  • CNA shares plunge 33 percent as parent injects cash
    Shares in CNA Financial plummeted almost 33 percent yesterday (27 October) after parent Loews Corp said it would pump up to $1.25bn into the US insurer following its $331mn third quarter net loss.
    28 October 2008
  • Hawksby leads AIG energy exodus; Costa heads new WR Berkley unit
    The talent drain at troubled American International Group (AIG) has continued with a raft of resignations in its Global Marine and Energy (GME) practice, including the president of its...
    28 October 2008
  • AXIS falls to $249mn Q3 loss; Charman predicts turn in market
    AXIS Capital holdings has become the latest in a line of Bermudian-based (re)insurers to report a third quarter net loss, blaming the impact of hurricanes Ike and Gustav and the “unprecedented” turmoil in global financial markets.
    28 October 2008
  • Aon appoints new chief risk officer
    UK broking giant Aon Limited has appointed Pauline Colving to be UK chief risk officer.
    27 October 2008
  • Hiscox ties up with AEGIS on cyber risk
    Hiscox has teamed up with AEGIS in a strategic partnership that will allow the Lloyd's insurer to offer its privacy protection product to the Bermuda-based energy
    27 October 2008
  • Arch to replace CFO
    Arch Capital Group has replaced John Vollaro, its CFO of almost seven years, with ING’s John Hele from 1 April 2009.
    27 October 2008
  • Brit COO leaves; liability underwriter joins
    UK based (re)insurance group Brit announced Kathy Lisson, COO will leave the company on 12 May next year.
    27 October 2008
  • ARC continues drive for ICA run-off model
    Legacy sector trade body the Association of Run-off Companies (ARC) and consulting firm Watson Wyatt have launched a key stakeholder group to help drive through the development of individual capital adequacy (ICA) models for run-off businesses.
    27 October 2008
  • Sub-prime liability claims may hit $20bn, says report
    Increased global errors and omissions (E&O) and directors' and officers' (D&O) liability claims of as much as $20bn related to subprime litigation are expected to impact general insurers' underwriting portfolios, according to a report by analysts at globa
    27 October 2008
  • Bahrain reports unprecedented growth in 2007
    Bahrain's economic boom is being reflected in a 21 percent surge in premiums reported for 2007 over 2006 levels. A 22 October announcement from the Central Bank of Bahrain revealed...
    27 October 2008
  • eReinsure emerges as frontrunner for Qatar platform
    Technology firm eReinsure is thought to have won the race to develop a new electronic placement platform in the Middle East.
    27 October 2008
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