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$75mn cat losses hit Everest Re Q3 earnings
Losses from the New Zealand earthquake have caused Everest Re to issue a profits warning on its third quarter earnings.
14 October 2010
Stanford loses multi-million dollar Lloyd's D&O case
Disgraced financier Allen Stanford can no longer tap into a London market directors' and officers' (D&O) policy to pay defence costs for his 2011 criminal trial, a federal judge in Houston has ruled.
14 October 2010
Bill Berkley: US commercial lines sector running at an operating loss
The US commercial lines insurance industry is running at an operating loss, according to chairman and CEO of WR Berkley Corporation Bill Berkley.
14 October 2010
Cuba-bound hurricane could cost insurers $200mn
Hurricane Paula, the category 2 storm off the coast of the Yucatan Peninsula which is bound for Cuba, may cost the insurance industry up to $200mn, according to an early loss estimate from catastrophe modelling firm Eqecat.
13 October 2010
AM Best cool on M&A prospects
The London market is unlikely to see much merger and acquisition (M&A) activity in 2011, according to ratings agency AM Best.
13 October 2010
Integro acquires San Francisco reinsurance broker
Private equity-backed retail and wholesale insurance broker Integro has taken over San Francisco-based reinsurance broking house ReSource Intermediaries for an undisclosed sum.
13 October 2010
HCC International loses chief underwriting officer Onslow
Mike Onslow, chief underwriting officer at HCC International, has resigned, The Insurance Insider can reveal.
13 October 2010
Integration costs cut into Glencairn profits
London market broker Glencairn suffered a 63 percent slide in pre-tax profits to £634,000 in 2009 as the cost of its integration into global broker Willis took its toll.
13 October 2010
Grafton secures ‘substantial’ Morrisons captive transfer
Audley Gilroy-controlled legacy (re)insurer Grafton has completed a transfer for UK supermarket giant WM Morrison PLC’s captive run-off liabilities – a deal which sources suggest represents ‘tens of millions’ in liabilities.
13 October 2010
The Insurance Insider Monte Carlo Roundtable 2010
As we sat down in the Fairmont Hotel in the heart of Monte Carlo,our ears were ringing with talk of new energy market initiatives andLloyd's syndicates. The market was as feverish as it has been at any time since theaftermath of Hurricane Katrina
13 October 2010
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