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Lloyd’s has $60mn exposure to Venezuelan gas rig
Lloyd's syndicates have almost $60mn of exposure to the Aban Pearl gas rig loss off the coast of Venezuela, with Argenta leading the slip, The Insurance Insider can reveal.
17 May 2010
Downed Afriqiyah Airbus had $124mn hull value; Catlin led
The Afriqiyah Airways Airbus A330-200 that crashed on 12 May while attempting to land at Tripoli International Airport had a hull value of $124mn, according to market sources.
17 May 2010
Aegis takes Moroccan shelter as ratings affirmed
Senior management of energy mutual Aegis are mulling strategy and taking cover this week against the benign backdrop of Casablanca, as storms continue to rage in the energy markets.
17 May 2010
Lloyd’s heavyweights scale back in London
The major Lloyd's (re)insurers are continuing to expand their international operations, in part at the expense of their London business.
17 May 2010
Lloyd’s veteran Field joins Omega
Lloyd's underwriting veteran Roger Field has been appointed to the board of Omega Underwriting Agents Ltd, the Lloyd's managing agent of Omega Insurance Holdings, The Insurance Insider has learned.
17 May 2010
Aon in major Formula I McLaren sponsorship deal
Global broker Aon is one of the new sponsors of the McLaren Formula 1 team, it emerged at the weekend.
17 May 2010
Diversified (re)insurers outperformed by specialists: Kramer
Despite ratings agencies actively favouring the diversified (re)insurer model in the years after Hurricane Katrina in 2005, the most successful stock market performers in the period have actually been those that have specialised.
13 May 2010
Willis brokered $235mn Venezuela gas rig; London writes 25%
Willis is the broker and Argenta's Syndicate 2121 at Lloyd's is leader on the insurance cover for the Aban Pearl gas rig that sank off the Venezuelan coast this morning (13 May), The Insurance Insider can reveal.
13 May 2010
Transocean rig had ‘significant problems’: Congress
With attention shifting towards allocating responsibility for the Deepwater Horizon disaster ahead of an expected avalanche of liability claims, a US Congressional committee has found that there were a number of significant problems with the oil well's key safety mechanism.
13 May 2010
Markel: Reserve deficiency and ‘internal bleeding’ likely to turn cycle
Industry-wide, (re)insurers are not recognising a reserve deficiency that has been steadily building on their books, while some players are haemorrhaging internally and masking the problem from the outside world.
13 May 2010
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