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Gerova gains Bermuda licence
Gerova Financial Group has gained approval for its life and annuity reinsurance business, Gerova Reinsurance, to start underwriting in Bermuda.
14 June 2010
Hardy latest to join Lloyd’s Asia platform
Hardy Underwriting is set to become the latest Lloyd's (re)insurer to underwrite through the Society's Singapore-based Asia platform.
14 June 2010
State Farm pulls out of US flood programme as renewal stalls
State Farm, one of the biggest participants in the US National Flood Insurance Program (NFIP), has said it is to stop writing policies under the federal plan, which has become caught in the legislative cogs of Capitol Hill.
14 June 2010
BP Marsh shows interest in wholesale with US Risk deal
Niche UK private equity investor BP Marsh has gone into partnership with Randall Goss-led wholesaler US Risk Insurance through a significant investment in its Lloyd's broking house.
14 June 2010
MMC holds Alaska lawsuit payout to $500mn
Fears that broker Marsh would indirectly suffer as a result of a legal settlement by fellow Marsh & McLennan Companies (MMC) subsidiary Mercer have receded after the payout was limited to $500mn.
14 June 2010
Chubb, Validus and Scor continue cash handback
Three separate moves by (re)insurers on both sides of the Atlantic last week have highlighted the sector's continued focus on returning surplus capital to shareholders.
14 June 2010
Anxious World Cup for injury underwriters
The World Cup is finally underway - and the stress the modern game now places on players is also raising anxiety levels among underwriters in the niche personal accident market.
14 June 2010
Political risk loss bill for (re)insurers nears $2.5bn
The overall claims cost to political risk underwriters of the global financial crisis so far is approaching $2.5bn, according to Bermuda-headquartered (re)insurer Aspen.
14 June 2010
Aspen estimates $25mn Deepwater exposure
(Re)insurer Aspen has become the latest company to declare a loss relating to Deepwater Horizon, with its estimate in the region of $15mn-$25mn.
14 June 2010
Swiss Re pushes industry Chile losses to $6.5bn
Industry declared losses in relation to the Chile earthquake have now reached $6.5bn, after Swiss Re became the latest (re)insurer to up its loss estimate with a new figure of around $630mn.
14 June 2010
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