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Group support lost in watered down Solvency II deal
A preliminary deal on the European Union (EU) Solvency II (SII) directive has been reached by leaving out the contentious group support regime proposals, which had been a major stumbling block to EU-wide agreement.
26 March 2009
Lloyd's appoints Bolt as new Franchise Director
As first revealed by The Insurance Insider Tom Bolt, the chief executive of Berkshire Hathaway's former Lloyd's insurer Marlborough Underwriting, has been confirmed by Lloyd's as its next Underwriting Performance Director.
26 March 2009
S&P turns negative on Berkshire
Ratings agency Standard & Poor's (S&P) has moved the outlook on Berkshire Hathaway’s core AAA insurer financial strength ratings to negative from stable.
25 March 2009
Colemont hires aviation duo from Aon
Expansive international specialty broker Colemont Insurance Brokers Limited has hired two former aviation executives from Aon, The Insurance Insider has learned.
25 March 2009
Final furlong for race to replace Rolf
The long and politically delicate search by Lloyd’s to replace Rolf Tolle, its director of underwriting, should be completed next month as the shortlist of runners in the sprint to the winning post whittles down to a two horse race.
25 March 2009
XL places UK and Irish life reinsurance into run-off
Following a nine month strategic review , troubled (re)insurer XL Capital has put its UK and Irish life annuity reinsurance business into run-off, citing market conditions.
25 March 2009
Lloyd's open years shrink again
Lloyd's has posted a sharp fall in the number of run-off or 'open years' of account in 2008, continuing the trend started in 2007.
24 March 2009
Lloyd’s makes £1.9bn ’08 profit
Lloyd’s has unveiled a relatively strong set of 2008 market results, with a pre-tax profit of £1.9bn and a peer-beating combined ratio of 91.3 percent as it rides the tide of global financial turmoil.
24 March 2009
No more bumper reserve releases, warns Lloyd’s
Lloyd’s insurers are unlikely to benefit in 2009 from the bumper tide of reserve releases that have boosted results in recent years, according to the Corporation’s director of finance, risk management, and operations Luke Savage.
24 March 2009
FASB issues new proposals on mark-to market
The Financial Accounting Standards Board (FASB) has issued new proposals intended to give companies greater guidance on how to apply mark-to-market accounting.
23 March 2009
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