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Thiele: underwriting and investment must run in tandem
Outgoing PartnerRe CEO Patrick Thiele believes that a successful reinsurance operation requires a high level of integration between the underwriting and investment functions.
22 November 2010
Sagicor hit by London market losses
Caribbean insurer Sagicor's international property and casualty unit posted a $7.8mn loss in the third quarter as the London-based operation picked up losses from the New Zealand earthquake.
22 November 2010
Ace returns to share buybacks as Greenberg lifts objection
Ace CEO Evan Greenberg has set aside his long-term opposition to share buybacks by securing approval for a $600mn programme.
22 November 2010
Zurich upgraded to A+
Zurich Financial Services has been upgraded by AM Best to reflect the global insurer's stronger balance sheet.
22 November 2010
Qatari executives join CATCo board
Start-up Bermudian reinsurance fund CATCo has signed up two executives from the Qatar Insurance Company to its board.
22 November 2010
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
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