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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
Hynes joins Ironshore board
Founder of Max Re Keith Hynes has been appointed to the board of Bermudian specialty insurer Ironshore, where he will chair the audit committee.
02 July 2010
Glacier Re expected to make operating loss in 2010
Glacier Re is likely to fall to an operating loss in 2010 due to its Chile exposures, according to AM Best.
02 July 2010
CCRIF members trade wind for quake cover after Haiti
The regional disaster insurance fund for Caribbean governments has increased its coverage limits for the coming year, albeit at the expense of hurricane cover ahead of what is forecast to be an above-average hurricane season.
02 July 2010
Brit shares climb, but Apollo may walk after latest rebuff
Brit Insurance shares initially climbed 5 percent in trading this morning (2 July) after the company announced it had rejected a revised £10.50 indicative bid from Apollo Global Management.
02 July 2010
Ariel clears the decks with Valiant sale
Class of 2005 Bermudian reinsurer Ariel Holdings is to sell its US subsidiary, Valiant Insurance Group, to US specialty insurer First Mercury, less than three years after it acquired the unit from Zurich North America.
02 July 2010
Brit says no to 1,050p Apollo bid
Brit Insurance has rejected US private equity firm Apollo's 1,050p approach, but said it would be willing to consider a higher offer.
02 July 2010
Alex losses ‘below $200mn’
Insured losses from Hurricane Alex are not expected to exceed $200mn, according to modelling firm AIR Worldwide.
02 July 2010
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