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Lancashire agrees $200mn credit facility
Bermudian short-tail specialist Lancashire Holdings has unveiled a $200mn credit facility with UK banking group Lloyds TSB.
26 April 2010
Ark CEO appointed to Xchanging Claims board
Ian Beaton, the CEO of private equity-backed Lloyd's insurer Ark Syndicate Management Ltd, is poised to become a non-executive director to the Xchanging Claims Services (XCS) board.
26 April 2010
Omega’s new chair commits to ‘comprehensive review’
John Coldman, who was parachuted in as chairman of Bermuda-based Omega Insurance Holdings last month, has revealed to shareholders that he is undertaking a "comprehensive review" of the business.
26 April 2010
Troubled 2010 for US P&C insurers, say analysts
AM Best and Conning Research & Consulting have predicted a troubled 2010 for the US property and casualty (P&C) insurance industry, as softening rates, anaemic investment returns and dwindling reserve releases erode profitability.
26 April 2010
Lloyd’s cracks down on broker E&O conflicts
Lloyd's has moved to impose controls on managing agents that write errors and omissions (E&O) policies for insurance brokers that also place business with them, The Insurance Insider can reveal.
26 April 2010
Don’t tax P&C – just regulate properly
It was profoundly disappointing, but not altogether surprising, that the emergence last week of global banking levy proposals should have attempted to tar the insurance industry with the soiled and fetid bankers' brush.
26 April 2010
Platinum confirms P&C market’s Florida fears
Platinum Underwriters has confirmed that is wary of exposing itself to the increasingly risky Florida insurance market as the major treaty renewal season for the state approaches.
26 April 2010
Reserve releases offset Q1 cat losses
Travelers, Chubb and Platinum have set a positive tone for the early first quarter results, with favourable reserve releases and improved investment performance offsetting heavy catastrophe losses.
26 April 2010
Novae continues run-off talks
Lloyd's insurer Novae Group is continuing to explore options to shed its US legacy liabilities despite recently ending exclusive talks with Bermudian run-off firm Enstar, The Insurance Insider understands.
26 April 2010
Deepwater Horizon puts brakes on falling GoM market
The up to $1.25bn Deepwater Horizon oil rig loss will reverse softening in the Gulf of Mexico (GoM) and other pockets of the offshore energy market, according to sources.
26 April 2010
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