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PRO becomes Lloyd's run-off broker
Run-off provider PRO Insurance Solutions has become an accredited Lloyd's run-off broker, gaining full access to the London market accounting and settlement systems.
20 November 2008
Solvency II struggles against political tide
The timetable for implementing Solvency II is likely to be delayed to 2013 as the proposal for European-wide insurance regulation struggles in murky political waters and amidst the current financial turmoil.
20 November 2008
Green light for Aon Benfield deal; closes on 28 November
The Aon Benfield deal is due to close on 28 November after the final regulatory obstacles to the £844mn cash tie-up have been completed.
19 November 2008
Amlin predicts 'strong' reinsurance rate rises
Amlin plc has predicted a strong rise in reinsurance rating levels as insurers look to retain less of their exposures, reversing the trend of recent years.
19 November 2008
Lloyd’s Act revision comes into force
Legislation to reform the Lloyd’s Act 1982 officially came into force today (19 November) in a move that the UK government said will modernise the operation of the world’s oldest insurance market.
19 November 2008
OFT approves Aon Benfield deal
The Office of Fair Trading (OFT) has cleared Aon Corporation's proposed takeover of reinsurance broker Benfield Group, removing one of the final potential obstacles to the deal.
18 November 2008
Obama regime wary of counter-productive tax measures
While President-elect Obama's democratic administration will move to "re-examine" the relationship between low-tax domiciles and the US, the US is currently in "desperate need of capital for its insurance market"...
17 November 2008
Storm experts declare Ike an 'anomaly'
Hurricane Ike, which made landfall as a category two hurricane over Galveston Island, Texas on 17 September after smashing Cuba and the Caribbean, confounded modelling agencies by forming much further west...
17 November 2008
Glacier Re takes $71mn hurricane losses; offers bullish outlook
Swiss-based (re)insurer Glacier Group says it expects gross claims before reinsurance from Hurricanes Gustav and Ike of $6mn and $65mn respectively, based on industry loss estimates of $5bn for Gustav and $16bn for Ike.
17 November 2008
SCOR weathers storm as profits hold up
French-headquartered reinsurer SCOR booked a relatively strong net profit for the year to 30 September of EUR280mn – down just 6.7 percent on the prior-year period.
17 November 2008
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