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Recession may not push up UK property claims, says QBE
Finlay Smith, head of the UK property portfolio at QBE, has said that there is no evidence that the recession will increase UK property claims.
23 February 2010
Munich Re and Hannover Re exposed to Belgian train crash
German reinsurers Munich Re and Hannover are understood to have exposure to the 15 February head-on collision between two passenger trains in Belgium.
23 February 2010
The end of Spitzer…'big three' welcome levelling on contingents
Within three years of his death, Oliver Cromwell's body was being violently disinterred and the Stuarts were restored to the throne. It was almost as if...
23 February 2010
Contingents back, but a shadow of what they were
Although last week's agreement between the "big three" brokers and US state regulators came close to abolishing Spitzer, contingent commissions look unlikely to ever recover to 2004 levels.
23 February 2010
P&C reinsurers continue foray into life and longevity
BMW today (22 February) announced a £3bn transfer of longevity risks from its UK pension fund, with reinsurance support provided by a consortium including Hannover Re and Partner Re.
23 February 2010
Acquisitive Fairfax absorbs Q4 investment blow; offers 31 percent premium for Zenith
Despite a modest investment setback in Q4, Fairfax Financial Holdings (FFH) added almost a third to its book value in 2009 as workers' compensation underwriter Zenith National Insurance (ZNT) was unveiled as its latest takeover target.
23 February 2010
Cash is king as LeStrange abdicates
In an unexpected move, Endurance founder Kenneth LeStrange confirmed last week he will be replaced as CEO by his underwriting lieutenant David Cash, as the Bermudian (re)insurer basks in record results for 2009.
23 February 2010
Bermuda moves closer to group supervision
Bermuda continues to take steps to match regulatory frameworks in rival jurisdictions by releasing details on how it proposes to introduce group supervision.
23 February 2010
Axis warned about developing credit/political risk exposures, including Blue City
Axis Capital could tolerate a full $399mn loss on its exposure to Blue City bonds - but Moody's has warned that additional losses from its credit/political risk book could cause a downgrade of its financial strength ratings.
23 February 2010
Omega shareholder dispute gets personal as AM Best reacts
Omega's long-running boardroom showdown became more personal in the last week when the firm named names in a strongly worded shareholder circular ahead of its upcoming special general meeting (SGM), and then reacted strongly to rating agency moves.
23 February 2010
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