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CRC proposes 2011 date for Ryan showdown
CRC Insurance Services and Ryan Specialty Group (RSG) will lock litigating horns in April next year if a US judge agrees to a plan submitted by the former to launch charges of conspiracy and poaching against its rival.
12 July 2010
P&C insurance continues to soften
Prices for commercial property and casualty (P&C) insurance are expected to have declined by an average of 4 percent at the July renewals, according to a Barclays Capital survey.
12 July 2010
Liberty sues ‘reckless’ Goldman Sachs
US insurer Liberty Mutual has accused Goldman Sachs of "recklessly disregarding" mortgage giant Fannie Mae's true financial condition and significantly overstating the value of investments in the firm.
12 July 2010
Trade credit and political risk market pencil in strong recoveries
The London trade credit and political risk insurance market is expecting robust recoveries from its recent run of financial crisis losses in the coming years, it emerged last week.
12 July 2010
London winning ground in international placement
The London market is benefiting from an increase in demand for catastrophe-only lines, as local markets shun natural catastrophe risks after high losses in the first half of the year, according to international placing broker Bowring Marsh.
12 July 2010
Fireman’s fund hikes asbestos reserves
Allianz's US P&C subsidiary, Fireman's Fund Insurance Company, is to increase its asbestos and environmental risk (A&E) reserves by $301mn following a review of their adequacy.
12 July 2010
Camomile scheme wins sanction
The proposed solvent schemes of arrangement for the Camomile Pool companies were granted sanction by the UK High Court, The Insurance Insider revealed last week.
12 July 2010
Quinn suitors given 16 July deadline
Macquarie Capital, which is managing the sale of troubled Quinn Insurance and sister company Quinn Healthcare, has set a 16 July deadline for expressions of interest, The Insurance Insider revealed
12 July 2010
Novae shareholders in line for special dividend after restructure
Lloyd's insurer Novae is expected to return between 35p and 40p per share to its investors unless the rating environment changes radically in the second half of the year, according to analysts at KBC Peel Hunt.
12 July 2010
Low 2010 claims fuel return to aviation profits
Although airline insurance rates were flat-to-down at the July renewals, the market is finally heading into a return to profit after three years of turbulence, reports Aon.
12 July 2010
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