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Three years transition to SII, says Willis Re
Insurers are likely to get at least three years of breathing space before the full rigours of the new Solvency II (SII) regime are applied in full, according to global reinsurance broker Willis Re.
18 April 2011
Renewals won’t lift P&I club performance: AM Best
Modest rate increases at professional and indemnity (P&I) renewals are unlikely to be enough to help the international clubs turn in profitable underwriting results, AM Best said.
18 April 2011
German insurers counter piracy with war risk consortium
Piracy off the Horn of Africa has prompted Bremen-based Lampe & Schwartze Marine Underwriting to launch the first ever war risk consortium for German shipowners, with backing from an array of heavyweight continental (re)insurers.
18 April 2011
D&O lines could become unprofitable, warns S&P
Directors' and officers' (D&O) insurance lines could become unprofitable for carriers if current market trends continue, according to Standard & Poor's (S&P).
18 April 2011
London councils warned against self-insuring
London councils have been warned against self-insuring by a leading professional advisory firm after a recent legal victory in the UK Supreme Court paved the way for local government mutuals to return.
18 April 2011
Liberty Mutual the preferred bidder for Quinn
Liberty Mutual working with Anglo Irish Bank has been revealed as the preferred bidder for Quinn Insurance, the Irish insurer that went into administration in March 2010.
18 April 2011
Colemont UK falls to 2010 pre-tax loss
Colemont UK Holdings, the holding company for Lloyd's broker Colemont Insurance Brokers (CIBL), suffered pre-tax losses of £299,000 in 2010, according to accounts filed with Companies House.
18 April 2011
Meridiana account returns to Willis after flying JLT visit
London-listed broker Jardine Lloyd Thompson (JLT) has denied market rumours surrounding an abortive deal to place reinsurance cover for Italian airline Meridiana.
18 April 2011
BMS lures top fac execs
Expansionist London-based independent broker BMS Group has signed up two high profile recruits for its growing facultative team, The Insurance Insider understands.
18 April 2011
XL to shoulder $11mn Glory satellite loss
XL Insurance is understood to write 100 percent of the commercial reinsurance coverage for the Orbital Sciences Corporation (OSC) Glory satellite that failed to launch last month, sister publication Inside FAC understands.
18 April 2011
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