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Microinsurance sector hears growth predictions
The market for microinsurance - insurance for low income individuals in the developing world - has the potential to reach as many as 3 billion people and generate premiums of up to $90bn, although it won't happen overnight.
24 November 2009
UK flood bill could hit £105mn
The substantial flooding that damaged UK properties following heavy rainfall last week could hit £105mn but cost far less than the two Southern England flood events that produced £3bn in aggregate insured losses in 2007, according to modelling firm RMS.
24 November 2009
Aon restructures as Devine steps down
The president of Aon Risk Services (ARS), Ted Devine, stepped down from the broking giant last week to launch a children's sporting charity.
24 November 2009
Flagship Syndicate 386 now predicts 58 percent return
QBE's flagship Lloyd's Syndicate 386 has boosted profit forecasts for its 2007 year to a staggering 58 percent of its £340mn capacity, on the back of releases from its bountiful reserves.
24 November 2009
Sword Group buys AgencyPort; creates new insurance division
Sword Group, the French-headquartered IT company that owns London market supplier Intech, has made a significant inroad into the North Americas by acquiring Boston-based AgencyPort.
24 November 2009
S&P pulls out of Australian retail investment
After the Australian Securities and Investments Commission (ASIC) decided to make rating agencies more accountable for their advice, Standard & Poor's (S&P) said it will stop supplying ratings of corporate bonds and other debt-based securities to retail investors in Australia.
24 November 2009
D&O insurers hit back at Stanford execs, seek declaration
Arch Specialty and Lloyd's insurers Brit, Ace, QBE, Beazley and Chaucer have hit back against attempts by former Stanford Financial Group (SFG) executives to claim defence costs on their directors' and officers' (D&O) policies.
24 November 2009
US flood scheme extended to 19 December
The US Congress has once again temporarily extended the federal National Flood Insurance Program (NFIP), this time until 18 December 2009.
24 November 2009
Despite 20 % + rate hikes, profit evades aviation underwriters
Normal.dotm 0 0 1 22 128 Insider Publishing 1 1 157
24 November 2009
Fairfax to de-list from NYSE
Canadian (re)insurance combine Fairfax Financial Holdings (FFH) is to exit the New York Stock Exchange, citing cost and financial streamlining for the decision just a month after it took Odyssey Re into 100 percent ownership.
24 November 2009
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