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Record H1 for natural catastrophes costs insurers $22bn
An "exceptionally" heavy first half for earthquakes and storms has generated a record $22bn of insured losses from natural catastrophes, according to figures compiled by Munich Re.
07 July 2010
Lloyd’s 2010 combined ratio could hit 100%, says AM Best
Lloyd's may fail to make an underwriting profit in 2010 due to the stinging catastrophe losses in the first half of the year, according to ratings agency AM Best.
07 July 2010
US P&C stuck in soft market
Pricing in the US property and casualty insurance industry is continuing to soften, according to MarketScout's latest survey of rates.
07 July 2010
London becomes Chartis EEA hub amid reshuffle
American International Group (AIG) subsidiary Chartis has restructured its European Economic Area (EEA) operations by centralising its UK, Ireland and Europe units under one regional management team headquartered in London.
06 July 2010
Maiden to buy GMAC International's reinsurance business
Bermuda-based Maiden Holdings is set to buy a majority stake in the reinsurance business of UK-based automotive business of GMAC International Insurance Services, almost three years after buying its US-based sister company GMAC Re.
06 July 2010
Two Marsh bid-rigging convictions quashed
Two former Marsh executives found guilty of bid-rigging charges in a high-profile case brought by former attorney general Eliot Spitzer have had the convictions thrown out by a New York judge.
06 July 2010
Brooke to head Tokio Millennium Sydney office
Ariel Re's departing COO, reinsurance veteran Russell Brooke has emerged as the prospective head of Tokio Millennium Re's (TMR) planned Sydney branch office, The Insurance Insider has learned.
05 July 2010
Tokio restructures global reinsurance and big ticket business
Global (re)insurance giant Tokio Marine is restructuring its international reinsurance and large commercial property operations from 1 January 2011, as it gears up for growth.
05 July 2010
QBE acquires Secura in EUR267mn deal
QBE has continued its recent flurry of takeovers by agreeing to buy specialist European reinsurer Secura for EUR267mn (£220mn) from Belgium-based bancassurance group KBC.
05 July 2010
June storms have heavy impact on Brazil, China
Insurance claims totalling $1.166bn were filed in June after global catastrophes that included flooding and severe weather events in America, Europe and Asia, reinsurance broker Aon Benfield reports.
02 July 2010
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