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Nephila to launch £100mn Lloyd’s syndicate
Third-party syndicate manager Asta Managing Agency has received approval to set up and manage a new Lloyd's Syndicate 2357 backed by Nephila Capital
05 February 2013
Julian James to take reins at Allied World Europe
Former Lockton International CEO Julian James will take over at Allied World Assurance Company's European platform as the (re)insurer continues to target international growth opportunities
05 February 2013
$1.08bn Sandy loss does little to dent Munich Re
Munich Re reported an 83.2 percent fourth quarter combined ratio in its reinsurance segment and a full-year ratio of 91.0 percent despite booking an EUR800mn ($1.08bn) loss from Superstorm Sandy
05 February 2013
Markel 2012 profits up on improved underwriting
Markel Corp delivered a 78 percent surge in net profits to $253.4mn in 2012 as improved underwriting results were aided by lower cat losses, higher reserve releases and a downturn in attritional losses.
05 February 2013
Berkshire takes on $4bn VADBE exposure from Cigna for $2.2bn
Berkshire Hathaway has demonstrated its continued appetite for legacy business with a deal to reinsure up to $4bn of exposure on a book of guaranteed minimum death benefits (VADBe) and guaranteed minimum income benefits (GMIB) business written by Cigna Corp.
05 February 2013
The Hartford reports strong P&C pricing momentum and capital management plans
The Hartford followed peers Chubb and Travelers by reporting a pick-up in momentum on US commercial insurance rate increases as it reported Q4 core earnings of $265mn and unveiled a capital management plan to buy back $500mn of its shares and cut debt by $1.0bn.
05 February 2013
Axis posts better-than-expected Q4 operating loss
Axis Capital became the latest Bermudian (re)insurer to significantly outperform Wall Street forecasts as it reported a better-than-expected fourth quarter operating loss.
05 February 2013
AM Best goes negative on American Safety Insurance
Rating agency AM Best has downgraded its outlook on the ratings of American Safety Insurance Holdings (ASI) from stable to negative.
04 February 2013
Liberty International appoints aviation head
Liberty International Underwriters (LIU) has appointed Bill Halligan as head of aviation.
04 February 2013
Brown & Brown’s shares up 6% on Q4 organic growth
Brown & Brown's shares leapt by 6.2 percent during early New York trading after the broker reported 5.4 percent organic revenue growth in the fourth quarter of 2012
04 February 2013
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