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Groupama UK for sale - reports
Troubled French mutual Groupama is to start discussions with interested parties over the sale of its UK insurance and distribution businesses and of broking operation Gan Eurocourtage, according to French media reports.
12 January 2012
Omega predicted to make a loss in 2012
Omega's in-house broker JP Morgan Cazenove has forecast that the Lloyd's (re)insurer will slump to a pre-tax loss of $94mn in 2011 and a further loss of $7mn in 2012 even if cat losses are within budget
12 January 2012
Swiss Re hoards capital in hope of hard market
Swiss Re seems in no hurry to dissipate its strong capital position through an aggressive share buyback as it continues to hold out for a hard market, Espirito Santo Investment Bank analyst Joy Ferneyhough has reported following an investor day.
12 January 2012
Capita lands senior FSA regulator Carter
Greg Carter became director of client services at Capita Commercial Insurance Services on 1 January, after leaving his position as manager of wholesale insurance intermediaries at the Financial Services Authority (FSA)
12 January 2012
Mitsui at Lloyd’s creates A&H account
Mitsui Sumitomo Syndicate 3210 is diversifying into accident and health (A&H) business, with ex-Chubb underwriter Steve Ranzetta coming in to wield the pen
12 January 2012
QBE shares fall 13% after profit warning
QBE's share price plunged by 12.7 percent after slashing its profit expectations due to investment losses and a heavy cat burden from the second half of 2011
12 January 2012
XL and Arch announce Thai losses; XL suffers US cat creep
Bermudian (re)insurers XL and Arch Capital have announced losses from the Thailand floods, with XL also confirming loss creep on US cat events from the second and third quarters
12 January 2012
Validus predicts $56mn Thailand loss
Bermudian reinsurer Validus has predicted net losses of $55.5mn from the severe flood events in Thailand during the fourth quarter of 2011.
11 January 2012
Renewals fragmented and volatile, says Guy Carp
The combination of significant non-US loss activity, 12 months of model change and robust industry capitalisation has produced a more complex and uneven renewals season than in 2011, Guy Carpenter has said
11 January 2012
Optimism as P&C rates finally creep higher
Analysts have struck an upbeat tone on opportunities for P&C insurers in 2012 following a heavy cat loss year and a turbulent period for equity markets amid Eurozone financial stresses
11 January 2012
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