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Cavanagh promoted to Willis Re CEO role
Broker Willis has promoted John Cavanagh to the role of chief executive at reinsurance arm Willis Re, replacing Steve Hearn, who moved up to the role of chairman and CEO of Willis Global last December.
19 January 2012
Swiss Re promotes Michael Lies as new CEO
Swiss Re has promoted its current chairman of global partnerships Michel Liès to group CEO, the company announced today (19 January)
19 January 2012
Transatlantic estimates $72mn Thai exposure and adds $33mn to NZII loss
Transatlantic Holdings will book after-tax net catastrophe costs of $72mn from the Thai flooding in its fourth quarter results when it announces them next month.
19 January 2012
Aspen estimates $54mn Thai exposure on $15bn industry loss
Bermuda's Aspen Insurance Holdings Ltd has put an initial estimate of $54mn net of reinsurance, reinstatement premiums and tax on the devastating Thai floods.
19 January 2012
Alterra flags CBI claims in $30mn Thai loss estimate
Alterra has become the latest Bermudian to pre-announce fourth quarter 2011 catastrophe losses as the (re)insurer said it expects a charge of $50mn to its financials that includes an initial loss estimate of $30mn for the Thai floods.
19 January 2012
Solvency II could prompt EU exit for captives
Stricter regulatory rules under Solvency II could cause a limited outflow of captive entities from the EU, according to ratings agency Fitch
18 January 2012
Alterra wins approval for local Brazilian reinsurer
Bermudian reinsurer Alterra is the latest international firm to be given regulatory approval to establish a local company in Brazil
18 January 2012
Axis Thai loss set at $48mn as Q1-3 events creep by $75mn
Bermudian (re)insurer Axis Capital is expecting a $48mn charge from the severe flooding from Thailand and will report a further $75mn of prior-event loss creep on its fourth quarter 2011 results
18 January 2012
RBS insurance units slapped with £2.2mn FSA fine
Royal Bank of Scotland (RBS)'s newly formed insurance unit has been slapped with a £2.2mn fine by UK regulator the Financial Services Authority (FSA) for failing to prevent documents that were submitted to the regulator from being improperly altered.
18 January 2012
US analyst calls market turn
JMP Securities analyst Matthew Carletti has declared that a slow, gradual market change is underway in the US P&C market
18 January 2012
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