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GAUM leads $65mn FedEx Tokyo aviation loss
London-based aviation MGA, Global Aerospace Underwriting Managers (GAUM) is the lead insurer and Aon the broker for the Federal Express (FedEX) cargo plane that crashed at Tokyo’s Narita airport on Monday (23 March)
23 March 2009
New ILW fund closes at $30mn
Despite investor caution and the category five financial storms, a new industry loss warranty fund (ILW) was launched last week to capitalise on the recent spike in rates.
23 March 2009
The rise of UK Plc? A taxing question
The knotty question of how to make London the domicile of choice for the world's (re)insurers was analysed comprehensively at The Insurance Insider's lively London 100 working group in March...
23 March 2009
Financial fall-out could now cost $16bn: Swiss Re
The industry's total losses from sub-prime, credit crisis and liquidity related litigation could reach $16bn, according to a senior Swiss Re claims manager.
23 March 2009
Synd 2121 joins Lloyd's hub as Yeo resigns from Argenta
Argenta Syndicate 2121 has become the latest addition to the Lloyd's Asia hub, as the parent of the Lloyd's insurer revealed it has parted company with Richard Yeo - the active underwriter on its existing Singapore-based Syndicate 1965.
23 March 2009
Glacier profits drop on cat losses
Soros-backed (re)insurer Glacier Group saw its 2008 profits hit by the year's heavy losses, as the firm's combined ratio climbed from 75.5 percent to 99.6 percent.
23 March 2009
BLG parts company with reinsurance head
Barlow Lyde & Gilbert (BLG) has parted company with the former head of its reinsurance arm, Colin Croly.
23 March 2009
Bermuda consolidation to continue: Wilbur Ross
Bermuda could be set for further M&A activity as billionaire investor Wilbur Ross said he is looking at buying and merging reinsurance companies with market caps of $1bn-$2bn.
23 March 2009
Solvency II to create new capital pressures for run-off industry
Solvency II could “punish” the legacy industry by imposing much greater capital requirements on discontinued books of business, attendees at the Cologne Commutations Rendez-Vous were warned last week.
23 March 2009
Citizens to sell $2.5bn bonds to fund hurricane claims
Florida's state-run property insurer, Citizens Property Insurance Corp, is set to sell $2.5bn of pre-event bonds to raise funds for potential claims arising out of the forthcoming hurricane season.
23 March 2009
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