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Bermuda primes 20% tax bombshell
The Bermudian government is preparing to hike payroll tax receipts by more than 20 percent as it looks to close a budget deficit opened up by the recession.
16 March 2010
Ariel founder Kramer takes back seat
Ariel Holdings Ltd founder Don Kramer is standing down as CEO of the Bermudian (re)insurer in favour of long-time number two George Rivaz.
16 March 2010
Glacier shrinks business; withdraws support for Kiln syndicate
Glacier Group cut back business by 17 percent in 2009 while delivering a $34mn increase in net profit to $60mn, as it looked to navigate softening market conditions.
16 March 2010
Hannover Re's profits jump as Chile hit assessed
Hannover Re hauled back to an impressive profit EUR731mn last year, but is bracing itself for a EUR225mn hit from the Chile earthquake and recent European storm damage.
16 March 2010
Omega’s new chair to review options after brutal in-fighting
Bermuda-headquartered (re)insurer Omega Insurance Holdings finally held its special general meeting (SGM) last week, ending the internecine conflict that has caused its lead underwriter to resign and set shareholders against the board.
16 March 2010
Scor already up to 80% of 2010 cat loss budget
Scor may have already used up 80 percent of its 2010 cat loss budget, after taking hits from the Chile and Haitian earthquakes and European Windstorm Xynthia in the first three months of the year.
16 March 2010
Lloyd’s compares Chile loss to US quake Northridge
Lloyd's head of underwriting, Tom Bolt, believes initial industry losses from the Chile quake could change dramatically, with the loss developing on the lines of the Northridge earthquake of 1994.
16 March 2010
Walsham Brothers considers sale: Aon denies link
Aon was recently in talks to buy the reinsurance broker Walsham Brothers, which could become the latest London market broker to be acquired by a larger, multinational rival - The Insurance Insider can reveal.
16 March 2010
Big three consider developing London broking platform
Electronic trading platform RI3K is in talks with the London & International Insurance Brokers' Association (LIIBA) and the "big three" brokers to develop a London market platform, The Insurance Insider can reveal.
16 March 2010
Lloyd’s Chile loss over $500mn; D&F writers hit hard
Lloyd's net share of the Chilean disaster will be in excess of $500mn and possibly $750mn+, according to The Insurance Insider's initial analysis.
16 March 2010
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