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Travelers Q1 profits up 30 percent on lower cats and reserve releases
Travelers' shares were up nearly 3 percent this morning as the US insurance giant booked analyst beating Q1 profits up by almost a third compared to the previous year and notable top-line expansion.
21 April 2011
Market will turn this year, says Munich Re
Munich Re, the world's largest reinsurer, is expecting the market to harden this year on the back of higher first quarter cat losses, group CEO Nikolaus von Bomhard has told investors
21 April 2011
Buffett swallows another $3.5bn of asbestos liabilities with AIG deal
National Indemnity Company's (NICO) reinsurance deal to assume $3.5bn of AIG liabilities is another demonstration of Warren Buffett's enduring appetite for asbestos risk.
21 April 2011
FSA unveils two-tier Solvency II approach
The UK financial regulator has been criticised by the insurance industry after announcing it will introduce a two-tier system for approving (re)insurers' Solvency II (SII) internal models.
21 April 2011
FSA quadruples Solvency II staff
The Financial Services Authority's (FSA) Solvency II contingent has quadrupled in size in the last year as the regulator tries to keep pace with the EU-set schedule.
21 April 2011
Colemont defections continue
Property, casualty and treaty managing director Jonathon Proctor has resigned from Colemont Insurance Brokers, The Insurance Insider can reveal.
21 April 2011
BMS continues Glencairn raids
Expansionist London market broker BMS has continued to recruit from Willis' broker Glencairn following the arrival of Nick Cook to head its wholesale operation.
21 April 2011
Glaser promoted in major MMC reshuffle
MMC has sent the strongest signal yet that former AIG Europe head Dan Glaser is Brian Duperreault's heir apparent as head of the broking giant.
21 April 2011
Reinsurer RoEs under pressure from dull capital market
An end to the rebound in the capital markets could put downward pressure on reinsurers' returns on equity unless other market trends change, suggests Aon Benfield's market analysis team.
21 April 2011
International market likely to dodge Tepco bullet
Last week the crisis at Japan's Fukushima Dai-ichi nuclear power station was raised to the highest level on the International Atomic Energy Agency's International Nuclear and Radiological Event Scale, raising the spectre of additional liability for the plant's operator.
21 April 2011
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