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CNA lands knockout for Hardy at 1.5x book
US insurer CNA has agreed a recommended cash offer for Lloyd's carrier Hardy Underwriting that values the business at £143mn.
21 March 2012
The Hartford bows to Paulson restructure pressure
US insurer The Hartford has unveiled plans to put its underperforming individual annuities business into run-off in order to focus on its core operations in P&C insurance and mutual funds
21 March 2012
Generali hit by EUR2.3bn gross Greek write-down
Generali's 2011 full-year results dramatically illustrated the importance of capital gains and losses on investments, as its total operating result of EUR3.93bn was battered down to a net total of just EUR856mn
21 March 2012
Alterra raises funds for New Point V sidecar
Bermudian (re)insurer Alterra is fundraising for another incarnation of its New Point fleet of sidecars ahead of the mid-year US renewal season.
21 March 2012
Mexico quake cost estimated at below $100mn
Modelling firm Eqecat estimates that a magnitude 7.4 earthquake that struck 300km south of Mexico City overnight on 20 March will cost the insurance industry less than $100mn
21 March 2012
Beazley invests £1mn in trade credit coverholder Equinox Global
Lloyd's (re)insurer Beazley has made an investment in specialist trade credit coverholder Equinox Global in exchange for circa 25 percent of the firm's equity.
20 March 2012
Allied World appoints new head of US professional lines
Allied World has announced the appointment of Susan Chmieleski as president of its core US professional lines unit.
20 March 2012
XL and others take $27mn Labuan Re retro hit
Malaysian carrier Labuan Re has incurred gross losses of $60.5mn from the Thai floods, handing on $27mn of this to retrocessionaires
20 March 2012
Stanford case against Willis can be heard
A fifth circuit appeals court has ruled that investors burnt by Allen Stanford's $7bn Ponzi scheme are entitled to pursue a class action suit in the district court against his insurance broker Willis
20 March 2012
Aviation underwriter flies higher at Kiln
Specialty insurer Kiln has promoted Paul MacMillan to the role of active underwriter of its aviation division.
20 March 2012
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