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BP’s Deepwater clean-up costs could hit $3bn
BP has said it is unlikely to stop the flow of oil from the sunken Deepwater Horizon rig in the Gulf of Mexico until August, which could mean its clean-up costs triple to $3bn.
01 June 2010
Aon Benfield hires senior Guy Carp marine broker
Aon Benfield has hired London managing director at Guy Carpenter's marine & energy division, Jack Stephenson, The Insurance Insider can reveal.
28 May 2010
AIG faces Transatlantic claim tied to $350mn+ losses
Transatlantic Holdings has filed for arbitration against former parent American International Group (AIG) over losses "in excess of $350mn" stemming from securities lending.
28 May 2010
FSA seeks 10% fee hike despite uncertain future
UK regulator the Financial Services Authority (FSA) is seeking to increase its budget by 9.9 percent to £454.7mn for the next financial year.
28 May 2010
NOAA adds to consensus with ‘extremely active’ hurricane forecast
The US National Oceanic and Atmospheric Administration (NOAA) has forecast an "active to extremely active" Atlantic Basin hurricane season, adding to the consensus for above-average storm activity in the ocean region this year.
28 May 2010
Transocean renewal sees premium double
Renewal discussions for beleaguered drilling contractor Transocean's physical damage insurance programme look set to deliver a doubling of premium, sister publication Inside FAC has revealed.
27 May 2010
Byrne cashes out $24mn share in Flagstone Re
Flagstone Re founder Mark Byrne, who stepped down as executive chairman of the Bermudian earlier this week, will receive a $2.2mn cash "goodbye" and has already cashed in $24mn worth of his original investment in the (re)insurer.
27 May 2010
Aviation industry ‘must plan for further volcanic disruption’
UK scientists have criticised the aviation industry for its chaotic and ad hoc reaction to the eruption of Icelandic volcano Eyjafjallajokull.
27 May 2010
L&G boss to take ABI chairmanship
The CEO of Legal & General (L&G) Tim Breedon will take over from Archie Kane as chairman of the Association of British insurers when the outgoing chairman completes his three-year term of office in July.
26 May 2010
Insurance CEO steps down at Alterra
Alterra's insurance CEO Angelo Guagliano, has announced his retirement.
26 May 2010
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