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International News Digest
Hartford shares leap; Expansive QBE raises $1.4bn; AIG’s Liddy to earn $1; California wildfires to cost up to $800mn; P&C rates fall 9 percent in November
09 December 2008
Briefings
Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP...
09 December 2008
Carvill trio join broker Tradition
Three executives from reinsurance broker Carvill have joined Tradition Financial Services (Tradition), its joint venture partner on the CHI cat futures initiative. Patrick Gonnelli, Carvill senior vice president from the firm's...
09 December 2008
Airline hardening continues: sector heads for 2008 loss
Further evidence of the turnaround in market conditions for airline insurance has emerged in December - the busiest month for renewals in the sector - with around two thirds of the 19 programmes renewed so far showing...
09 December 2008
AIG gets green light on Greenberg suit
American International Group (AIG) has been given the go ahead to proceed with a lawsuit against its former CEO, Maurice 'Hank' Greenberg, over claims he "misappropriated" millions of AIG shares.
09 December 2008
Aon vows on new revenue sharing approach as Benfield knot is tied
Aon Specialty formed as BCR transfers as part of $1.43bn deal...
09 December 2008
Solvency II flounders
The approval of a Solvency II (SII) directive by the European Union Council of Economic and Finance Ministers (ECOFIN) that excluded all reference to group support and group supervision was widely criticised...
09 December 2008
Kiln launches £200mn syndicate
Lloyd's managing agent RJ Kiln is to open a new Syndicate in 2009 for intra-group reinsurance as part of the Tokio Marine Group, as predicted by The Insurance Insider in October.
09 December 2008
Capital call for Lloyd's insurers as £ plummets
Despite a number of Lloyd's syndicates already pre-empting capacity for 2009, insurers writing US business in the market face the challenge of finding additional capital in the New Year to support underwriting as a result of the swing in the $/£ exchange
09 December 2008
Ex-Marsh exec Wallers to join HSBC
Julian Wallers, former head of the FINPRO practice at broker Marsh UK, is to re-surface at the broking arm of global bank HSBC, The Insurance Insider can reveal.
09 December 2008
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