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News in brief
Torus to launch marine practice; China approves Scor for life and health
13 April 2010
Willis enters the Shariah space
Willis has arranged the first ever Shariah-compliant space insurance policy.
13 April 2010
CGM Gallagher and Zenith in Caribbean merger
Caribbean insurance broker CGM Gallagher Group - part of US-based AJ Gallagher - has merged its commercial insurance broking portfolio with Jamaica-based Zenith Insurance Brokers.
13 April 2010
Northern Sumatra quake sees minimal loss; no fatalities
A magnitude 7.7 earthquake hit the coast of Northern Sumatra, Indonesia last week, although the temblor had little effect on the island's rubber, palm oil and liquefied natural gas industries.
13 April 2010
Advisen warns of ‘relentless’ soft primary market in 2010
Early indications are that 2010 will be an expensive year for (re)insurers, sowing the seeds for a hard market in 2011 or beyond, according to Advisen.
13 April 2010
Everest Re financial strength prompts upgrade
Standard & Poor's (S&P) has upgraded Everest Re in recognition of its falling debt levels, high liquidity and efforts to diversify its business.
13 April 2010
Quinn administration hearing adjourned amid takeover rumours
The Irish Financial Regulator's application to place Quinn Insurance into full administration was today adjourned for one week by the Irish High Court.
13 April 2010
Greenberg points finger at regulator over AIG collapse
Hank Greenberg, the former long-serving CEO of American International Group (AIG), has blasted financial regulators for failing to prevent the insurer from taking on too much risk.
13 April 2010
PE firms looking to exit ‘class of 2005’
This year would typically be a natural time for the initial private equity sponsors of the "class of 2005" start-up Bermudians and those remaining in the "class of 2001" to look to exit, according to accountancy firm PricewaterhouseCoopers (PwC).
13 April 2010
Polish air loss not expected to impact market
The 10 April crash of the Polish Air Force jet in Smolensk in Russia, where all 96 on board were lost, is not expected to impact the commercial aviation insurance market.
13 April 2010
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