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  • The current plight of some municipal bonds is just the "tip of the iceberg" and will continue to rise, according to Berkshire Hathaway’s reinsurance chief Ajit Jain.
  • Willis has committed to phasing out its newly acquired contingent commissions within three years following its announced acquisition of Hilb Rogal & Hobbs (HRH) for $2.1bn.
  • Willis Group Holdings Ltd saw its profits fall 50 percent for the second quarter after a "significant impact" from its cost-cutting programme.
  • Ratings agency AM Best has placed the financial strength rating of “A-” (Excellent) and issuer credit rating of “a-” of Bermudian reinsurer Aspen Insurance Limited under review with negative implications.
  • Bermudian reinsurer Everest Re reported a 21-point deterioration in its combined ratio, to 108.4 percent for the final quarter of 2007, owing largely to the $311.2mn asbestos charge announced in January.
  • Newly founded Zurich-based Perils AG estimates the property insurance market loss for windstorm Klaus at EUR1.55bn.
  • Alchemy’s acquisition of the Lloyd’s insurer Cathedral Capital is not the largest private equity deal in Lime Street – that honour goes to the £430mn buy-out of the motor insurer Cox Insurance (now Equity) last year.
  • A benign conclusion to the 2006 hurricane season could speed up the softening market for non-catastrophe exposed property casualty (re)insurance worldwide.
  • Lloyd’s is so excited about its dotcom project Blue Mountain which, aims to revolutionise the industry, that it has agreed to provide further funding In July ACE invested another £1mn into a revolutionary new electronic project that plans to slash cost
  • Goldman Sachs' entry to Lloyd's with a syndicate for the 2008 year – exclusively revealed by The Insurance Insider today (5 November) - occurs against the backdrop of the capital markets' increasing appetite to assume (re)insurance risk.