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Downgraded Mapfre dropped from Global Aerospace pool
UK-based aerospace insurer Global Aerospace has announced the reorganisation of its pool following the recent downgrade of 10 percent member Mapfre SA by Standard & Poor's (S&P).
22 October 2012
Baden-Baden Insider: Day Two
The recent loss of the A- financial strength rating for Spain-headquartered (re)insurer Mapfre has revived an almost forgotten tradition - that of the downgrade before a major industry conference.
22 October 2012
Zurich and Travelers add $700mn to reserves
Zurich Insurance Group and Travelers reminded investors of potential issues around reserve adequacy by disclosing more than $700mn of reserve strengthening last week.
22 October 2012
Aon Benfield to launch European wind model in 2013
Reinsurance broker Aon Benfield is planning to launch its own catastrophe model for European wind risk starting with the German market in 2013, The Insurance Insider has learned.
22 October 2012
Apollo prepares for European life reinsurance push
Private equity giant Apollo is gearing up to take on European life insurance and reinsurance risk after signing up a team of ex-UBS staff as consultants, The Insurance Insider can reveal.
22 October 2012
ProSight hires new Lloyd’s underwriting head
Private equity-backed insurer ProSight Specialty Insurance has hired a senior London market figure to become the active underwriter of its Lloyd's Syndicate 1110.
22 October 2012
Bumper 2012 results will add to 1/1 rating pressures
One of the side effects of the rich crop of results that is expected from reinsurers in a cat-free 2012 is that it will add to the downward squeeze on rates at the key 1 January renewals.
22 October 2012
JLT shares fall on reinsurance dip
Shares in JLT Group came under pressure last week after the UK-listed broker said its reinsurance arm will report weaker profits in 2012 than last year.
22 October 2012
Flagstone bid-spread narrows
The spread between the price of Flagstone Re's shares and the current value of Validus' stock and cash offer for the company has narrowed over the past month, suggesting increased confidence that the deal will complete without a rival bid.
22 October 2012
Atrium sale will be handled by KBW
The sale of Lloyd's business Atrium finally looks set to start in earnest after the insurer's private equity (PE) backers appointed investment bank Keefe Bruyette & Woods (KBW) to handle the auction, The Insurance Insider can reveal.
22 October 2012
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