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Berkshire Hathaway/White Mountains-owned insurer set for $575mn IPO
Symetra - the former Safeco spin-off life and health insurer that counts White Mountains Insurance Group and Berkshire Hathaway among its major investors - has filed for a $575mn initial public offering (IPO).
12 October 2009
Mutuals increasing market share in global economic downturn
Mutual insurers are increasing global market share, as the financial crisis and global recession has increased their attractiveness to customers compared to public company peers, according to a study by ratings agency AM Best.
12 October 2009
US legacy industry prepares for annual migration
The US run-off industry once again prepares for its annual migration to New Jersey as the fifth Association of Insurance and Reinsurance Run-Off Companies (AIRROC) event begins on the 19 October.
12 October 2009
Airline reinsurance rates also taking off
Ahead of another key renewal date for the airline sector comes a further report that airline reinsurance prices are "generally rising" as underwriters digest a heavy loss year which is already fuelling significant primary rate increases.
12 October 2009
Melor damage estimates at up to $1.5bn
Estimated insured losses from Typhoon Melor for onshore properties in Japan range from $850mn to $1.5bn, according to risk modelling firm AIR Worldwide.
12 October 2009
UK regulator clarifies 'intrusive' approved persons regime
The UK Financial Services Authority (FSA) has shed light on its "more intrusive" regulatory regime for approving and supervising "persons performing significant influence functions" (SIFs).
12 October 2009
Gallagher confirms Rattner Mackenzie team hire
AJ Gallagher's London operation confirmed it has hired the trade credit team that defected from former HCC-owned broker Rattner Mackenzie before the entity was sold to Guy Carpenter.
12 October 2009
Key Scottish Lion hearing delayed
The keenly awaited case management conference for the Scottish Lion scheme of arrangement due to take place today (12 October) has been delayed. The meeting is thought to have been rescheduled for Wednesday (14 October)
12 October 2009
Scor opens Netherlands Life office
French reinsurer Scor has built out its presence in the Dutch life reinsurance market with the establishment of an office in the Netherlands through its subsidiary, Scor Global Life.
12 October 2009
AIG close to $2bn Taiwan sale
American International Group (AIG) is close to announcing the sale of its Taiwanese life assurance unit, according to reports, in what would be the largest deal to date in its asset shedding exercise to repay the US taxpayer.
12 October 2009
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