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‘Milestone’ Aon Benfield deal completed; up to 700 job cuts expected
Aon Corporation completed its takeover of Benfield Group on 28 November to establish the world’s largest reinsurance broker under the joint brand Aon Benfield, headed by CEO Andrew Appel and executive chairman Michael O’Halleran.
01 December 2008
SCOR gains new Asian Life licences
French-headquartered reinsurer SCOR has been granted a Takaful reinsurance licence and a conventional reinsurance licence for its SCOR Global Life branch on the Malaysian offshore domicile of Labuan.
22 December 2008
ACE and Swiss Re to launch CDO risk portfolios
Reinsurers seek to actively manage cat risk in capital markets as 2008's US windstorm season begins
30 May 2008
AIG assists Cuomo in ‘improper bonuses’ probe; appoints new CFO
American International Group (AIG) has agreed to hand over details of all compensation paid to senior executives to New York attorney general Andrew Cuomo as he looks to recover “illegal expenditures” from the beleaguered insurer.
17 October 2008
Profits blast ahead at Marsh
MMC has seen profits rise sharply at its global (re)insurance broking operations as cost cutting efforts paid dividends whilst overall (re)insurance income stagnated.
12 February 2009
Greenlight Re Q1 losses decrease
Cayman Islands-based reinsurer Greenlight Capital Re revealed its losses more than halved in the first quarter compared to the same period last year.
19 May 2008
Lloyd's censures Ark A&H underwriters
Lloyd's has censured three members of Ark Syndicate Management's Accident and Health (A&H) underwriting team for "discreditable and detrimental conduct" following their move to Ark from Travelers' Lloyd's platform in 2007.
18 May 2009
RSA bucks trend with upgrade
RSA has joined a small pool of (re)insurers bucking the trend of negative ratings actions with a ratings upgrade of its UK operating subsidiaries by AM Best.
27 February 2009
Japanese quake cat bond next as ILS pipeline builds momentum
Despite a slower than expected start to insurance linked securities (ILS) issuance in 2008, the pipeline of cat bond deals is again filling up, with a renewal of a Japanese quake bond expected to close shortly.
12 May 2008
SCA and Assured Guaranty report Q1 losses
Monoline bond insurers Security Capital Assurance (SCA) and Assured Guaranty Ltd (AGL) both reported further losses in the first quarter of 2008.
12 May 2008
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