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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 ratings agency Standard & Poor's
12 April 2011
QBE faces class action on US force-placed insurance
Australian (re)insurance giant QBE has been hit with a proposed class action suit in Florida over its force-placed insurance business, along with some of its subsidiaries and US bank Wells Fargo
12 April 2011
State Farm wins 18% Florida insurer rate rise
Florida regulators have permitted insurer State Farm to hike homeowner rates by an average of 18.8 percent across the state, according to reports
12 April 2011
Travelers appoints new Europe CEO
Sean Genden has been promoted to CEO of Travelers' European operations, with responsibility for its Lloyd's platform and its general UK insurance company, as part of a new management structure
12 April 2011
Japan nuclear crisis now on same rating as Chernobyl
Japan has raised the Fukushima Dai-Ichi nuclear power plant crisis to the highest level on the International Atomic Energy Agency (IAEA)'s International nuclear and radiological event scale (INES)
12 April 2011
Omega facing $46mn Q1 cat bill
Lloyd's takeover target Omega has informed investors that its likely losses from first-quarter catastrophes stand at $45.7mn
12 April 2011
Allied World expects $75mn Japan quake loss
Swiss-based (re)insurer Allied World Assurance Company expects $75mn in pre-tax losses and loss expenses from last month's devastating earthquake and tsunami in Japan.
12 April 2011
Platinum to take $87mn Japan hit
Platinum Underwriters has become the latest reinsurer to put a loss figure out for last month's Tohoku earthquake and tsunami as it said its Q1 financials will take a net negative hit of $87mn from the disaster.
12 April 2011
G4S to buy UK’s The Cotswold Group
Global security and insurance intelligence group G4S, has announced the acquisition of UK fraud investigator The Cotswold Group.
11 April 2011
NZ insurer collapses after earthquake
The Argenta syndicate at Lloyd's led the catastrophe reinsurance programme for a small New Zealand insurer that has collapsed under the weight of claims from the Christchurch earthquake.
11 April 2011
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