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US P&C reserve releases up 30%
Reserve releases by US and Bermudian (re)insurers were up by almost a third in the second quarter of 2010 compared to the prior-year period, according to a review by analysts at Stifel Nicolaus.
31 August 2010
Omega reports first loss as cats bite
Lloyd’s insurer Omega Insurance Holdings has reported a maiden loss in the first half of the year as the heavy toll from man-made and natural catastrophes and reserve strengthening pushed the group into the red for the first time.
31 August 2010
Glacier Re enters run-off
Swiss-based reinsurer Glacier Re's portfolio of business has been placed into run-off with immediate effect, having failed to find a buyer despite being on sale for some time.
27 August 2010
Ex-Aon boss in line to succeed O’Halloran at QBE
QBE is lining up former Aon UK chief Peter Harmer to succeed 64-year-old Frank O'Halloran as group CEO, The Insurance Insider can reveal.
27 August 2010
Share buybacks to climb at White Mountains
White Mountains has become the latest Bermudian to beef up its share repurchase programme, as (re)insurers continue to take advantage of depressed valuations to deploy idle capital.
27 August 2010
Axis seeks new CFO after Greenfield departure
Axis Capital is on the hunt for another chief financial officer (CFO) after revealing that David Greenfield has resigned the post.
27 August 2010
Chaucer to stay UK-domiciled as profits dive
Chaucer's pre-tax first-half profits dived by 59 percent to £7mn in the first six months of the year as its combined ratio widened to 105 percent.
26 August 2010
Rowell joins Pat Ryan start-up
Former Beazley Group chief underwriting officer Johnny Rowell has signed up to Pat Ryan's ambitious start-up as it looks to build a London platform, The Insurance Insider can reveal.
26 August 2010
Amlin leads $31mn Chinese crash cover
Lloyd's (re)insurer Amlin leads the cover on the passenger plane that crashed in the Heilongjiang province of China earlier today, The Insurance Insider has learnt.
24 August 2010
Zurich UK hit with record £2.3mn fine for losing customer data
UK watchdog the Financial Services Authority (FSA) has levied a record £2.275mn fine on Zurich Insurance's UK branch for failing to keep client data secure.
24 August 2010
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