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RK Harrison agrees deal to hire HSBC PI team
RK Harrison has struck a deal with Marsh Ltd over the transfer of a UK professional indemnity (PI) team from HSBC Insurance Brokers (HIBL), which was acquired in a £135mn deal earlier this year.
28 April 2010
Aon Benfield and Ascot offer Chile earthquake facility
Aon Benfield has teamed up with Ascot Underwriting to provide a new facility for Chile earthquake cover.
28 April 2010
Montpelier Re hit hard by first quarter cats
Montpelier Re has swung to a first quarter operating loss of $23mn compared to a $48mn profit a year earlier, following losses of $94mn from the Chilean earthquake and $3mn from Windstorm Xynthia.
28 April 2010
RenRe sees Q1 profit rise despite cat losses
In line with many of its Bermudian peers, RenaissanceRe reported a rise in first quarter net income despite paying for exceptional catastrophe losses in the first three months of the year.
28 April 2010
BWS launches London market JV with Oxygen
Middle East-headquartered Brokerage World Solutions (BWS) is launching a joint venture (JV) with Lloyd's entity Oxygen Insurance Brokers as it looks to develop its global reach.
27 April 2010
Solid profits for Berkley on investments and Chile miss
WR Berkley delivered $119mn of net income in Q1, reversing its deficit of the previous year, after making investment gains and avoiding significant losses from the Chilean earthquake and Windstorm Xynthia.
27 April 2010
US Senate slams rating agencies for ‘collusion’ with Wall Street
A US Senate oversight committee has criticised rating agencies Moody's and Standard & Poor's (S&P), alleging that they sold AAA ratings to investment banks for portfolios of assets that they knew to be a considerable default risk.
27 April 2010
Axis books reinsurance underwriting loss after Q1 cats
Bermudian (re)insurer Axis booked a $5mn underwriting loss in its reinsurance segment in Q1 2010 - against gains of $61mn for the same period in 2009 - as results were hit by the high level of catastrophe activity.
27 April 2010
Arch Capital sees Q1 income climb
Bermudian (re)insurer Arch Capital Group saw first quarter profit rise to $210.5mn from $139.9mn in Q1 2009, as its investment performance improved year-on-year.
27 April 2010
‘Confusion and concern' over US piracy move
International lawyers have moved to ease insurance industry concerns over President Barack Obama bolstering US treasury powers to aid the fight against piracy off Somalia.
26 April 2010
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