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Platinum warns of NZ quake aftershocks
Fears that reinsurance losses from the New Zealand earthquake may be worse than initially expected were confirmed last week, with Platinum Underwriters reporting rising costs from the 4 September catastrophe.
22 November 2010
Ground Zero workers accept $625mn+ compensation offer
More than 95 percent of "Ground Zero" workers who helped clear up debris after the September 2001 terrorism attack on the World Trade Center have agreed to a compensation offer worth at least $625mn.
22 November 2010
QBE spends $275mn on RenRe’s insurance arm
QBE has continued its North American acquisition drive with an agreement to purchase Bermudian RenaissanceRe's US insurance operations for around $275mn.
22 November 2010
Creasy steps down from Kiln
Kiln, the Lloyd's subsidiary of insurance giant Tokio Marine, confirmed last week that Edward Creasy is to step down as chairman after 11 years at the firm.
22 November 2010
Greenberg’s interest in AIG worth just $590mn
The American International Group (AIG) stake owned by Hank Greenberg and the Starr Group has fallen in value from $32bn to just $590mn on a precipitous drop in share value and the gradual selling down of the stake.
22 November 2010
Omega buys extra reinsurance after cat-heavy year
Bermuda-domiciled Lloyd's carrier Omega Insurance Holdings has acquired additional reinsurance cover after it was dragged to a first-half loss by catastrophe activity and then hit by the New Zealand earthquake in September.
22 November 2010
Are we on the cusp of a Lime Street consolidation revolution?
In the 15 years since corporate capital has been active at Lloyd's, there have been a number of false dawns for an imminent wave of consolidation among listed Lime Street insurers.
22 November 2010
Chaucer’s new capital tale welcomed
Shares in Lloyd's insurer Chaucer plc closed last week up 2 percent as investors responded positively to a solid trading statement and a new strategy that includes ambitious growth aspirations and a more aggressively leveraged balance sheet.
22 November 2010
The Irish question
They say that truth is the first casualty of war. And it is hard to know what to believe in the war of words currently taking place, as part of the latest episode of global economic woe.
22 November 2010
Guy Carpenter continues Aon Benfield France raid
Guy Carpenter is continuing to build its Paris office from the fallout of the Aon Benfield merger, after securing the services of Emmanuel Dubreuil.
22 November 2010
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