October 2009/3
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Brit Insurance Holdings has embarked on a shake-up of its professional indemnity division which has led to the departure of its two most senior underwriters.
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Tokio Millennium Re (TMR) is set to become the latest specialist Bermudian catastrophe reinsurer to diversify into new business lines at the 1.1 renewals, The Insurance Insider can reveal.
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The International Association of Insurance Supervisors (IAIS) annual conference to be held this week (21-24 October) in Rio de Janeiro, Brazil will be taking ‘Insurance as a means of socioeconomic development’ as one of its key themes...
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Bermudian domiciled (re)insurer Axis Capital says it expects its third-quarter operating income to be impacted by an increase of approximately $136mn in the fair value liability of an indemnity derivative contract that is exposed to longevity risk.
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The total liabilities of the UK non-life run-off market increased by approximately 30 percent to an estimated £37.4bn at the end of 2008...
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Hong Kong-based investment company Primus Financial Holdings headed the consortium that won the battle to acquire American International Group (AIG)'s Taiwanese life insurance unit, Nan Shan, for $2.15bn.
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Jardine Lloyd Thompson (JLT) has continued to lure senior Aon executives to bolster its Asian and aviation resources...
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Guernsey reviewing corporate tax regime; Enstar completes Copenhagen acquisition; ING to transfer US reinsurance business to RGA...
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State-backed Brazilian bank Banco do Brasil (BB) has announced it is in preliminary discussions with the Brazilian ministry of finance and the Brazilian federal government to allow it to buy a stake in IRB–Brasil Re (IRB).
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The decision by a Scottish Court last week to prevent the proposed Scottish Lion solvent scheme of arrangement because of objections by some policyholders will be appealed, scheme adviser and partner at PricewaterhouseCoopers (PwC) Dan Schwarzmann has tol
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As the first of the Q3 financials begin to trickle through this week led by Platinum Underwriters on Wednesday, the expectation is for bumper profits from property casualty (re)insurers...
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While Beaufort and Beazley remain on course to launch special purpose syndicates (SPS) for 1.1, fellow Lloyd's insurers Hardy Underwriting and Ark Underwriting have shelved plans to establish new sidecar style vehicles for the 2010 year.
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Despite reined in optimism over underwriting conditions next year, a quartet of new Lloyd's syndicates are set to join Nick Jones' Apollo Syndicate 1969 in time for 1/1 launch 2010 launch.
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Italian insurance giant Generali's buy out of the 49.6 percent minority shareholding in its Alleanza Italian life insurance unit should produce tax savings of EUR40mn a year...
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Matthew Elderfield, the current CEO of the Bermuda Monetary Authority (BMA), is to step down at the end of the year to take up the post of director of financial regulation at the Central Bank of Ireland.
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The community of former UK-domiciled specialty insurance operations now headquartered overseas face years of meticulous close scrutiny of their business affairs by UK tax authorities...
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Munich Re's recent decision to reinstitute its share buyback programme to the tune of EUR1bn in "unneeded" capital could act as a catalyst for further returns...
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Rating agency AM Best painted a lacklustre picture of the European non-life sector in 2010...
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Broker Willis Group has appointed former GCFac's Latin American operations, Hugh Powell, as CEO of Willis Facultative in Latin America...
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QBE Europe has confirmed that of the 200 jobs that were subject to consultation as part of a restructuring overhaul, 125 redundancies are expected...
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Dutch insurance giant Aegon has completed a capital management transaction...
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Ratings agency Standard & Poor’s (S&P) has highlighted concerns over life settlement securitisations (LSS).
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Hannover Re will open a non-life branch in Shanghai, after receiving regulatory approval earlier this month.
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Rating agency Moody's has withdrawn the debt ratings on Flatiron Re after its loans were repaid in full earlier this year...