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Former HSBC defections continue but GHC fights back
Last week was perhaps the busiest week yet in the HSBC entrance lobby since the broker's £135mn takeover by Marsh...
19 April 2010
US P&C 2009 results see historic hard market trigger point breached
2009 results for the US property and casualty (P&C) insurance industry indicate that the elusive hard market could be on its way.
19 April 2010
HCC estimates $20mn Q1 cat losses
HCC Insurance Holdings has reported losses totalling $20mn pre-tax, or $13mn post-tax, from the Chilean earthquake and Windstorm Xynthia. The firm said losses from the Chile disaster account for the majority of the reported figure.
19 April 2010
Earthquake kills 2,000 in China
A magnitude 6.9 earthquake that struck a remote region in China on 14 April has now killed almost 2,000 people and left tens of thousands homeless, according to latest reports.
19 April 2010
Iceland’s volcano spurts new opportunity for (re)insurers
The closure of most of Europe's airspace because of a huge cloud of ash from an Icelandic volcano has cost the airline industry hundreds of millions of dollars yet the impact on the insurance industry is still expected to be relatively modest.
19 April 2010
Metlife fined $13.5mn for broker steering payments
US insurance giant Metlife has agreed to pay $13.5mn to resolve a government investigation into improper payments it made to a San Diego-based insurance broker, US federal prosecutors announced last week.
19 April 2010
AIG raises $2bn through aircraft sale
AIG unit International Lease Finance Corporation (ILFC) revealed last week that it was to raise almost $2bn through the sale of aircraft to Australian financial services firm Macquarie Group.
19 April 2010
QBE eyes bumper 2010 harvest with NAU deal
Expansive Australian insurer QBE's $565mn move to acquire NAU Country Insurance will see it pick up an 11 percent share of the US crop insurance market.
19 April 2010
85% share for Florida-only insurers points to increased competition
With the key 1 June Florida renewal approaching analysts are expecting a competitive market, as private reinsurers jostle to be placed on programmes with recognised carriers while trying to avoid the burgeoning small-cap specialist Florida-only homeowner insurance sector.
19 April 2010
GoM self-insurance concerns spiral despite rate falls
The Gulf of Mexico (GoM) offshore wind market could see further moves towards self-insurance in the run-up to the official start of the US hurricane season on 1 June, despite improved rates and terms for buyers, our sister title Inside FAC revealed last week.
19 April 2010
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