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Lower systemic risks in insurance
Insurance simply does not present the same systemic risks as banking, so regulators should not treat the two sectors in the same way, the chief economist of Swiss Re today told an industry forum in London.
03 December 2009
Todd goes to Integro
The former head of Aon Ltd Healthcare, Rob Todd, has joined international insurance broker and risk manager Integro.
03 December 2009
EAUA scheme granted leave to convene
The UK High Court yesterday (November 30) granted the English and American Underwriting (EAUA) Pools leave to convene meetings of creditors, The Insurance Insider understands.
03 December 2009
AIG closes debt for equity swaps; readies life units for sale
American International Group (AIG) has closed a debt-for-equity swap with the Federal Reserve Bank of New York that will slash its government debt by $25bn, in return for a stake in its two life insurance units, which will eventually be spun off from the group.
03 December 2009
JLT acquires HSBC Actuaries and Consultants for £27.5mn
Jardine Lloyd Thompson (JLT) has delivered on ambitions to expand its presence in the employee benefits arena with a £27.5mn cash purchase of HSBC Actuaries and Consultants (HACL).
03 December 2009
People moves
Max Capital promotes Kalainoff; Liberty hires former Ace legal counsel; Liberty appoints London casualty manager; Torus adds dedicated US property claims service with new hire; New CFO for Argo
03 December 2009
News in brief
Cooper Gay expands in US with Atlanta opening; State Farm appeals Texan fine
03 December 2009
“Lack of consistency” in insurers’ financial reports
Investment analysts are concerned about the quality of financial reporting from the insurance sector, which they believe is under-valuing major companies.
03 December 2009
Third party bill eases way for actions; creates more red tape
Run-off specialists have warned that a UK bill on the rights of third parties claiming against insolvent insurers places further administrative burdens on the industry.
03 December 2009
Russian train attack could impact PA market
London market (re)insurers are not expecting significant claims to result from the Russian train disaster last Friday in which 25 people were killed, The Insurance Insider understands.
03 December 2009
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