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Willis cites one-off factors for sluggish 4Q results
The disappointing fourth quarter results reported by Willis last week were put down to extraordinary or company-specific factors that hurt the broker in North America, the UK and on the continent.
20 February 2012
External candidate favoured for Plumeri succession
The overwhelming likelihood is that Willis will choose an external candidate when the time comes to succeed chairman and CEO Joe Plumeri.
20 February 2012
Chartis says it will now raise rates
Chartis is raising insurance rates and focusing on underwriting for profit as it emerges from the crisis in 2008, according to parent American International Group's chief executive Robert Benmosche.
20 February 2012
McGavick says investors are unfairly punishing XL
Investors have over-punished XL for its poor showing in the fourth quarter of 2011, according to the company's CEO Mike McGavick.
20 February 2012
Axis tough on un-modelled cat – Charman
International (re)insurer Axis Capital shed a large amount of exposure to international cat business at 1 January as it loaded non-modelled business more than its peers, president and CEO John Charman revealed last week.
20 February 2012
Becker calls on Munich and Swiss to lead market turn
Alterra president and CEO Marty Becker has called for reinsurance giants Swiss Re and Munich Re to drive a widespread market turn, describing the European pair as "the only two players big enough to drive reinsurance rates".
20 February 2012
Japan trio downgraded over Thai losses
Moody's has downgraded the financial strength ratings of three of Japan's biggest insurers, Tokio Marine, Mitsui Sumitomo and Sompo Japan, following the recent hikes in their net loss estimates from the Thai flooding.
20 February 2012
Validus CEO decries levels of disclosure
Validus CEO Ed Noonan has criticised some of the reinsurer's Bermudian peers for failing to make detailed disclosures on their exposure levels and likely cat losses.
20 February 2012
‘Negative outlier’ PartnerRe downgraded
The risk management capabilities at PartnerRe did not keep pace with the organisation's growing complexity after its $2bn Paris Re acquisition, explained Standard & Poor's (S&P) as it downgraded the reinsurer's financial strength rating by one notch to A+.
20 February 2012
Newly launched Faber on wholesale consolidation trail
Newly launched wholesale and facultative broker Faber has access to Willis Group funds for accretive acquisitions in the London market and beyond, and is already in discussions with third parties, according to its founding CEO.
20 February 2012
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