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Labuan Re the latest Thai-exposed reinsurer on negative watch
AM Best has placed the A- financial strength rating of Malaysian carrier Labuan Re under review with negative implications due to the expected impact of the Thai floods on the company's capital position
22 December 2011
Amlin secures $150mn aggregate cover from cat bond market
Lloyd's (re)insurer Amlin has closed its first cat bond issuance Tramline Re at $150mn, sister publication Trading Risk has reported.
21 December 2011
Swiss Re: favourable regulations fuel growth in emerging markets
Insurance premiums in emerging markets have expanded by 11 percent per annum over the past decade on average, according to a Swiss Re Sigma study
21 December 2011
European insurers wrote 2.5% more business in 2010
European insurers wrote total gross premiums of EUR1.104bn in 2010, a 2.5 percent increase on the previous year, according to figures from European (re)insurance federation the CEA
21 December 2011
Millwater to step down from Willis
Willis Group president Grahame Millwater is to take early retirement in 2012 after 25 years with the broking firm. His roles will be taken over by Willis executives Steve Hearn and Tim Wright.
21 December 2011
Irene and Lee cost NFIP less than $1bn
Total claims from Hurricane Irene have cost the US National Flood Insurance Program (NFIP) less than $750mn, according to the latest figures supplied by the Federal Emergency Management Agency (Fema)
21 December 2011
Beazley’s Hardy bid faces challenges
Beazley will have to find ways to neutralise the difficulties posed by a Lloyd's-on-Lloyd's transaction and the corresponding advantages held by rival bidders Arig and Tower Group if it is to prevail in its approach for Hardy.
21 December 2011
Tokio Marine in premium acquisition of Delphi for $2.7bn
Japanese insurance giant Tokio Marine has struck an agreement to take over US life and P&C player Delphi Financial for 1.5x book as it continues to diversify away from Japan.
21 December 2011
Prudential chairman to step down in board shakeup
Harvey McGrath is to step down from his position as chairman of UK life insurance giant Prudential next year once a successor has been found.
21 December 2011
Loucaides leaves Jubilee
Interim CEO Andreas Loucaides will be leaving Lloyd's (re)insurer Jubilee with immediate effect, with the overhauled top-level management now in complete control of the firm
21 December 2011
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