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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
Stanford director sues Lloyd's insurers for $45mn
A number of Lloyd's insurers are facing a claim for more than $45mn in damages from the former chief investment officer (CIO) of Stanford Financial Group (SFG) – the banking and investments organisation at the heart of $8bn fraud allegations.
23 March 2009
Fitch downgrades AXA as variable annuities drag
French insurance behemoth AXA, whose 2008 figures were decimated by mark-to-market losses, has been downgraded by Fitch Ratings over lower capital adequacy and profitability amid the raging financial storms.
23 March 2009
Brit last trade buyer in Chaucer race
UK insurer Brit Insurance is the only trade buyer left in the race to buy fellow Lloyd’s insurer Chaucer Holdings, as the shortlist of serious bidders is whittled down to three.
23 March 2009
Founding CEO Deutsch in Ironshore exit
Founding Ironshore Inc executive Bob Deutsch is leaving the Bermudian insurer.
23 March 2009
Founding CEO Deutsch in Ironshore exit
Founding Ironshore Inc executive Bob Deutsch is leaving the Bermudian insurer.
23 March 2009
Turner attacks passporting
Lord Adair Turner, chairman of UK regulator the Financial Services Authority (FSA), has attacked the current European system of cross-border regulation while calling for a revolution in global financial controls.
23 March 2009
Moser to step down from Equitas
Scott Moser is set to retire as chief executive of Berkshire Hathaway’s Resolute Management Services Ltd (RMSL) – the company that manages the run-off of Equitas liabilities.
23 March 2009
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
Brit last trade buyer in Chaucer race
UK insurer Brit Insurance is the only trade buyer left in the race to buy fellow Lloyd’s insurer Chaucer Holdings, as the shortlist of serious bidders is whittled down to three, The Insurance Insider can reveal.
23 March 2009
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