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BMA CEO swaps Bermuda for Ireland
Matthew Elderfield, the current CEO of the Bermuda Monetary Authority (BMA), is to step down at the end of the year to take up the post of director of financial regulation at the Central Bank of Ireland.
19 October 2009
Axis to post $136mn derivative hit in Q3
Bermudian domiciled (re)insurer Axis Capital says it expects its third-quarter operating income to be impacted by an increase of approximately $136mn in the fair value liability of an indemnity derivative contract that is exposed to longevity risk.
19 October 2009
UK run-off liabilities increase 30 percent in 2008
The total liabilities of the UK non-life run-off market increased by approximately 30 percent to an estimated £37.4bn at the end of 2008...
19 October 2009
Primus wins $2.15bn AIG Taiwan life unit
Hong Kong-based investment company Primus Financial Holdings headed the consortium that won the battle to acquire American International Group (AIG)'s Taiwanese life insurance unit, Nan Shan, for $2.15bn.
19 October 2009
Credit crisis securities lawsuits fall sharply in Q3
Despite a moderate uptick in the number of securities lawsuits filed in the third quarter, the number of new suits related to the credit crisis fell sharply...
19 October 2009
People Moves
Box joins Marsh board; Miller boosts professional risks team with Heath Lambert hire; Colemont's Kath named president of NAPSLO; WR Berkley hires Re Iberia director to head up Spanish branch...
19 October 2009
AEGON releases $650mn with securitisation
Dutch insurance giant Aegon has completed a capital management transaction...
19 October 2009
Hardy launches reinsurance JV with Arig
Hardy Underwriting Bermuda Limited has launched a reinsurance joint venture based in Bahrain in equal partnership with Arab Insurance Group (Arig).
19 October 2009
SWIP completes $20mn capital raise
Texas-based Southwest Insurance Partners Inc (SWIP) has completed a $20mn capital raise increasing its overall capitalisation to more than $115mn, The Insurance Insider can reveal.
19 October 2009
Hardy and Ark shelve 2010 Lloyd's sidecar plans
While Beaufort and Beazley remain on course to launch special purpose syndicates (SPS) for 1.1, fellow Lloyd's insurers Hardy Underwriting and Ark Underwriting have shelved plans to establish new sidecar style vehicles for the 2010 year.
19 October 2009
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