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Digest
Digest: Shares in The Hartford leapt to a 52-week high last week after the firm's largest investor - hedge fund Paulson & Co - demanded the group spin-off its under-performing life business.
20 February 2012
QBE closes 2009 with 43% profit
QBE has closed its 2009 results for its flagship Syndicate 386 with the final profit coming in a third higher than previously estimated, according to information from third-party capital adviser Argenta.
20 February 2012
Sandy Creek set to cost onshore market $340mn
The beleaguered onshore energy market could be facing a $340mn loss as a result of damage to a coal-fired power station in Texas that occurred while it was undergoing testing last year, sister title Inside FAC has revealed.
20 February 2012
Do the right thing
The news of Willis' about turn on accepting contingents on a portion of its book has sparked speculation that it may soon change its stance across all classes, and has once again reignited the broker remuneration debate.
20 February 2012
IG P&I renewal pays $40mn increase as pressure builds for 2013
Major reinsurance programme renews up despite Costa Concordia not being taken into account.
20 February 2012
QBE combines casualty and professional/financial lines under Harries
Australian insurer QBE is to launch a new unit on 27 February, combining its Casualty International and Professional & Financial lines teams.
20 February 2012
Japanese ‘big three’ all downgraded on Thai creep
Moody's has downgraded its financial strength ratings of the top three Japanese P&C groups, Tokio Marine, Mitsui Sumitomo and Sompo Japan, following the recent hikes in their net loss estimates from the Thai flooding.
20 February 2012
PartnerRe loses AA- rating as S&P downgrades by one notch
Ratings agency Standard & Poor's (S&P) has downgraded its insurer financial strength (IFS) ratings of Bermudian reinsurer PartnerRe's operating subsidiaries by one notch to A+ from AA-
20 February 2012
Willis merges fac and Glencairn under Faber brand
Willis has launched an independent wholesale and facultative broker to serve third parties under the revived Faber brand
20 February 2012
Nationwide falls to P&C loss on $2.3bn weather claims
US mutual insurance giant Nationwide paid out a record $2.3bn in weather-related claims in 2011, almost $1bn more than in 2010.
18 February 2012
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