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Latest Madoff suit opens up potential new exposure for insurers
A class action lawsuit filed on 12 February under the US Employee Retirement Income Security Act (ERISA) has potentially opened up a new avenue for Madoff-related losses in the insurance industry.
23 February 2009
People Moves
Currie extends RenRe stay; new CRO named...
23 February 2009
Flagstone slumps to 2008 loss on investments
Bermudian-headquartered Flagstone Re has become the latest casualty of heavy investment losses as it slumped to fourth quarter and full-year net losses.
23 February 2009
Generali downgraded on write-down concerns
Assicurazioni Generali, one of Europe's largest insurers, saw its financial strength ratings cut last week on concerns over the impact of the financial turmoil.
23 February 2009
Berkshire stock hits 5-year low
Shares in Berkshire Hathaway hit fresh 5-year lows last week as financial market turmoil took its toll on the company's stock holdings and shareholders speculated that...
23 February 2009
Cat bonds return with $200mn Atlas V
The Lehman Brothers-induced ILS drought finally ended last week with the completion of Scor's $200mn Atlas V catastrophe bond, and news that Goldman Sachs is marketing the renewal of Chubb's East Lane III.
23 February 2009
The week ahead
ARC Congress, 2009 PLUS D&O Symposium, more fourth quarter and FY results...
23 February 2009
BAE hedges against hardening with multi-year deal
In a sign of hardening prospects for the insurance market, Aon has structured a five-year “cost certainty” insurance deal with global defence and aerospace company BAE systems.
23 February 2009
Four shortlisted for AIG Philippine life unit
Four potential bidders have been shortlisted as possible buyers for troubled insurance giant American International Group's (AIG) Philippine life insurance unit.
23 February 2009
AIR increases Klaus estimate
Catastrophe modeling firm AIR Worldwide has increased its French insured loss estimates for winter storm Klaus to between EUR500mn-EUR1bn.
23 February 2009
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