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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
Enstar takes Hannover Re’s Clarendon for $200mn
Hannover Re has announced that it is to sell all operational companies of its US insurer in run-off, Clarendon Insurance Group, to the Bermuda-based legacy specialist Enstar Group.
22 December 2010
Catlin the fourth reinsurer to raise NZ estimate
Lloyd's and international (re)insurer Catlin Group has increased its New Zealand quake loss estimate from $35mn to $45mn, giving further evidence that reinsurers' initial reserves are coming under pressure from a deteriorating loss picture
22 December 2010
Microinsurance could be worth $40bn
The fledgling microinsurance market could be worth $40bn when it grows to maturity, according to research from Swiss Re
21 December 2010
News in brief
Lloyd's claims head Chaplin moves to Asia Pacific; The Hartford offloads TPA for $280mn; Alterra passes on management of Names syndicates; RFIB sets up in Kazakhstan...
21 December 2010
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