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Chaucer NZ loss estimate swells by 60 percent
Chaucer has become the latest carrier to significantly increase its New Zealand loss estimate after the government catastrophe pool advised that its claim could more than double.
24 December 2010
Ceiops bullish on growth and predicts more M&A activity
European insurance regulator the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops) has said that there is little prospect of (re)insurers achieving organic growth in 2011, with an uptick of M&A the likely response.
23 December 2010
Ruxley transfers aviation & general run-off book to Berkshire
Run-off specialist Ruxley Ventures has received approval from the UK High Court of Justice to transfer the assets and liabilities of Aviation & General Insurance Company to a subsidiary of Berkshire Hathaway.
23 December 2010
John Rowe to retire from CTC by end of 2011
The CEO of Charles Taylor Consulting (CTC) John Rowe is to retire by the end of 2011, the London-based insurance services group has announced.
23 December 2010
Fairfield start-up hires Liberty exec
Matt Fairfield, the former founding CEO of HCC Global Financial Products, has hired a senior Liberty International Underwriters (LIU) executive to his nascent global specialty MGA business.
23 December 2010
Amlin, Kiln, Hiscox on NZ$1.5bn quake-hit layer
Lloyd's heavyweights Amlin, Kiln and Hiscox are among the reinsurers on the middle NZ$1.5bn layer of the New Zealand Earthquake Commission's reinsurance programme which is now set to face a significant claim.
23 December 2010
AIG fined $100mn over misstatement of workers’ comp premiums
American International Group (AIG) has agreed to pay fines of $100mn to multiple state insurance regulators for under-reporting the volume of workers' compensation insurance premiums that it received.
23 December 2010
SWIP-Lightyear merger completes
The merger between Houston-based insurance investment vehicle South West Insurance Partners (SWIP) and Lightyear Delos Acquisition Corp has completed.
23 December 2010
New York AG sues E&Y over Lehman audits
New York Attorney General Andrew Cuomo has filed a suit against Ernst & Young (E&Y) alleging that the big four accountancy firm assisted collapsed bank Lehman Brothers in defrauding its shareholders.
22 December 2010
Parent of UK solicitors’ PI writer on negative watch
The Ukrainian parent company of the ninth biggest carrier in the UK solicitors' professional indemnity (PI) market, Lemma, has been placed on negative watch by AM Best on concerns over its financial reporting.
22 December 2010
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