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Swiss Re on risk for $1.55bn Cali quake limit
Swiss Re is effectively on risk for half of the $3.1bn 2009 reinsurance programme placed for the California Earthquake Authority (CEA), The Insurance Insider understands.
15 December 2008
AM Best thumbs up for Max de-risking, diversification
Bermudian (re)insurer Max Capital Group has had its outlook upgraded to positive from stable on all of its ratings by AM Best, which has also affirmed the financial strength rating (FSR) of A- (Excellent) of Max Bermuda.
15 December 2008
(Re)insurance can weather 'worst crisis since 1930s'; Swiss Re
As a result of the most severe financial crisis since the 1930s, the world will see a severe recession without the prospect of a rebound before mid 2009...
15 December 2008
London report recommends UK tax competitiveness
A report produced for the Mayor of London by Bob Wigley, Chairman of Merrill Lynch Europe to examine how London could sustain its position as the world’s leading financial centre has concluded the city is in danger of losing out...
15 December 2008
Lloyd & Partners scoops energy duo from Aon Benfield
JLT group's marine and energy specialist broker Lloyd and Partners is set to recruit two members of Aon Benfield's facultative offshore energy team, our sister title Inside FAC revealed last week.
15 December 2008
Endurance to sell off London unit
Bermudian insurer Endurance Specialty Holdings is selling off its London insurance unit after a strategic review, The Insurance Insider revealed last week.
15 December 2008
R&Q, Randall win bitter run-off dispute
A bitter dispute involving two run-off giants culminated in a victory last week for Randall & Quilter (R&Q) affiliate Cavell USA and R&Q founder Ken Randall against two insurance companies connected to Bermuda-headquartered Enstar Group
15 December 2008
UK High Court rubber stamps first German Scheme
The UK High Court gave the go-ahead to the first solvent scheme of arrangement by a German reinsurer, paving the way for other German companies to consider using the UK run-off closure technique.
15 December 2008
AIG to pick up pace on disposals
American International Group (AIG) hopes to pick up the pace in its attempts to sell off multi-billion dollar assets as its chairman and CEO Ed Liddy said he expects to announce a number of transactions in the coming weeks.
15 December 2008
XL confirms Goldman Sachs appointment, flags Q4 write downs
XL Capital has confirmed that it has hired Goldman Sachs to "explore value-enhancing opportunities" as it pointed to an increase in Q4 investment write downs.
15 December 2008
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