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Ace companies upgraded to A++ by AM Best
AM Best has rewarded Ace Ltd for strong earnings and capitalisation along with "prudent" acquisitions by upgrading the financial strength ratings (FSR) of most of the (re)insurer's operating subsidiaries from A+ to A++.
14 April 2014
AIG Europe loses financial lines leader
Peter McKenna, American International Group (AIG)'s head of financial lines for Europe, the Middle East and Africa (EMEA), has recently left the giant insurer, The Insurance Insider understands. Normal 0
14 April 2014
Troubled Southport Re to be sold
Southport Re, the collateralised reinsurer that ran into problems over the quality of the assets backing its underwriting, is to be sold to investment group US Lennox Investments LLC for an undisclosed sum
14 April 2014
Western World targets 1.4x-1.5x sale multiple
Early price indications from sell-side adviser Goldman Sachs suggest that privately held US insurer Western World is targeting a lofty - and perhaps unrealistic - sale multiple of 1.4x-1.5x book value, The Insurance Insider understands
14 April 2014
AmTrust bullish on Italian med-mal hard market
Major Italian medical malpractice writer AmTrust remains bullish about the profitability of the business in 2014 despite cutting back its top line last year.
14 April 2014
Marketform hits Central Fund with fresh cash calls
Marketform has handed on more than £10mn ($16.7mn) of claims to the Lloyd's Central Fund in the last six months as the run-off of its Italian med-mal portfolio continues to inflict pain on the market
14 April 2014
Brit investors choose Apollo over CVC by 19:1 ratio
The investors to which private equity consortium Achilles syndicated its Brit Insurance investment in 2011 have overwhelmingly chosen to have their interests represented by Apollo rather than CVC following the firm's IPO
14 April 2014
Case: the market must change faster than its clients
The global (re)insurance market must evolve faster than its customers to stay relevant in a fast-changing risk landscape. This was the assessment of Aon plc CEO Greg Case in an Insurance Institute of London lecture at the Old Library at Lloyd's last week.
14 April 2014
Acappella hires Lloyd’s enforcer as chief underwriting officer
Fledgling Lloyd's underwriter Acappella has hired market veteran David Indge as chief underwriting officer
14 April 2014
QBE aviation business up for sale as director quits
QBE has hoisted up the for sale sign at its Lloyd's aviation business in perhaps the first sign that the market's rapid softening is triggering a withdrawal of capacity, The Insurance Insider can reveal.
14 April 2014
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