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RSA boss quits after third profit warning
Simon Lee, chief executive of troubled UK general insurer RSA, has stepped down after the company warned for the third time in six weeks that its profits would fall short of forecasts.
13 December 2013
FIO targets uniformity on US regulation in long-awaited report
The long-awaited report from the Federal Insurance Office (FIO) on modernization of insurance regulation in the US has been broadly welcomed by industry trade bodies.
13 December 2013
AmTrust hits out at ‘false and misleading’ shorts
AmTrust CEO Barry Zyskind has attacked what he says are "false and misleading" articles published about the company which he claims are aimed at manipulating the insurer's stock price to the benefit of short-sellers.
13 December 2013
Maiden joins AmTrust in tailspin
Shares of Bermudian reinsurer Maiden Holdings have traded down by as much as 15 percent, following AmTrust Financial Services into a heavy sell-off.
13 December 2013
ICAT Syndicate 4242 names McConnell active underwriter
US property cat specialist insurer ICAT has named Megan McConnell as the new active underwriter on its Lloyd's Syndicate 4242.
13 December 2013
AmTrust’s shares plummet as short stories circulate
Shares of AmTrust Financial Services have fallen sharply during trading in New York today, amid fresh discussion of alleged accounting improprieties that critics say flatter the insurer's reported profitability.
12 December 2013
AIR: Xaver losses could hit EUR1.4bn
Catastrophe modelling firm AIR Worldwide has said insured losses from European Windstorm Xaver could be as high as EUR1.4bn.
12 December 2013
AM Best downgrades QBE credit ratings
AM Best has downgraded the issuer credit ratings (ICR) of QBE Insurance Group and its subsidiaries and changed its outlook on the Australian insurer's financial strength ratings (FSR) from stable to negative.
12 December 2013
Former Chaucer boss elected PRA panel chair
Aberdeen Asset Management CEO and former Chaucer chairman Martin Gilbert has been elected to head up a newly formed Prudential Regulation Authority (PRA) panel representing the interests of the financial services industry.
12 December 2013
RSA shares dip below symbolic £1 threshold
Shares in troubled UK general insurer RSA slipped below the £1 mark yesterday (11 December), taking the drop in the company's market value since its shock profit warnings in early November to nearly 25 percent.
12 December 2013
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