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AIG confirms $150mn D&O settlement
American International Group (AIG) has confirmed that its directors' and officers' (D&O) insurers, including lead Great American, have agreed to pay $150mn to help settle shareholder claims against the company.
21 December 2010
Chile loss estimated at $8.5bn
More than nine months after the earthquake that struck Chile, reinsurance broker Aon Benfield has estimated an ultimate industry insured loss figure of $8.5bn.
21 December 2010
Bermuda market facing Pemex pipeline loss
The Bermudian excess casualty market looks set for another significant loss from an oil pipeline rupture following a blast at Mexico's state-owned operator Petroleos Mexicanos (Pemex).
21 December 2010
Year’s top 10 major losses cost $29bn
For the second year in a row, direct and facultative (D&F) underwriters have been spared a substantial loss from a major US hurricane, despite an above average level of tropical storm activity.
21 December 2010
End of hurricane season dip for US wind ILW prices
US wind prices on industry loss warranty (ILW) contracts have dropped by as much as 20 percent for certain triggers after the hurricane season closed, according to broker Aon Benfield Global ReSpecialty.
21 December 2010
Chartis in Lodestone $450mn ‘bargain’ placement
Chartis subsidiary National Union Fire Insurance Company of Pittsburgh (NUFI) last week almost doubled the size of its second Lodestone cat bond issuance, placing $450mn at the expense of the collateralised reinsurance market.
21 December 2010
Besso in takeover talks with UK bank
Independent London market broker Besso is in takeover talks with LDC, the private equity arm of UK bank Lloyds TSB, The Insurance Insider can reveal.
21 December 2010
AM Best turns positive on Swiss Re
AM Best has upgraded the outlook on Swiss Re's A financial strength rating from stable to positive to reflect the action taken by management to repair the business following its difficulties in 2008.
21 December 2010
Generali dips on profit fears
Generali shares came under selling pressure last week, with investors fearful that it may endure impairment charges on its investment portfolio in the last quarter of the year.
21 December 2010
RAA backs federal license proposal
The Reinsurance Association of America (RAA) has thrown its weight behind legislative proposals to license reinsurers at a federal level to create greater global harmonisation of regulatory standards.
21 December 2010
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