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Cathedral reigns in 2010 expansion plans
Short-tail specialist Cathedral Underwriting has become the latest Lloyd's (re)insurer to rein in its 2010 expansion plans because market conditions are not as buoyant as initially expected.
28 September 2009
Lloyd's CF faces exposure to Willis PA LMX settlements
The mighty Lloyd's Central Fund is facing exposure to the $269mn settlements that Willis made with US insurers Assurant and CNA to end litigation relating to their disastrous involvement in the PA LMX spirals of the mid-to-late nineties, The Insurance Ins
28 September 2009
Fairfax begins sweetened Odyssey Re tender offer
Canadian combine Fairfax Financial Holdings has begun its previously announced cash buy-out of the minority interests in its affiliated reinsurer Odyssey Re for $65 per share.
28 September 2009
AIG's ability to repay US government 'unclear'
The ultimate success of American International Group (AIG)'s efforts to repay the outstanding $120.7bn balance on its $182bn US government bailout package remains uncertain...
28 September 2009
Lloyd's to launch segmented claims scheme in 2010
Lloyd's intends to establish a pilot scheme for claims handling in 2010 that will focus on segmentation, Lloyd's CEO Richard Ward told the inaugural meeting of the London Market Claims Council last week.
28 September 2009
Hannover Re entry subdues UK solicitor's PI rate increases
UK solicitors firms are seeing rate increases of between 10 and 20 percent at the 1 October renewal of their professional indemnity (PI) insurance contracts, according to leading brokers.
28 September 2009
Axis hires former Bowring Marsh CEO
The outgoing chief executive of Bowring Marsh, Mark Gregory, is to become CEO of Axis Global's specialty lines division, The Insurance Insider revealed last week.
28 September 2009
Floridian and Bermudian authorities sign memorandum
The Florida Office of Insurance Regulation and the Bermuda Monetary Authority have signed a Memorandum of Understanding (MOU) committing both parties to work together to share information and co-ordinate regulatory activities.
28 September 2009
Kiln launches into space with Scor hire
Lloyd's (re)insurer Kiln has entered the space market by appointing Laurent Esquirol, former senior space underwriter at Scor.
24 September 2009
Lloyd’s profits up 40% on low claims and improving investments
The relatively benign claims environment and improving investment conditions in the first half of 2009 have pushed aggregate pre-tax profits among Lloyd’s (re)insurers to £1.32bn from £949mn in the prior-year period.
24 September 2009
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