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WR Berkley launches energy player; books Q3 loss
Expanding specialty insurer WR Berkley recruited AIG’s offshore energy president Frank Costa to head a start-up operation last week.
03 November 2008
ACE profit slumps as CEO signals end of soft market
Newly Swiss-domiciled (re)insurer ACE Ltd has avoided the third quarter net losses posted by a number of its peers, but nevertheless saw its net income decimated by net realised investment losses and catastrophes as it plummeted 92 percent to $54mn.
03 November 2008
Palin a turn-off for insurers as Obama narrows gap
Ahead of tomorrow’s US presidential elections frontrunner Democratic candidate Senator Barack Obama appears to be making inroads among professionals in the traditionally Republican-dominated insurance industry, according to a poll conducted by AM Best’s B
03 November 2008
Paris Re ups Ike estimate as offshore loss multiplies
Swiss-domiciled reinsurer Paris Re has increased its loss estimate for Hurricane Ike to $130mn from an original figure of $75-$95mn reported in late September.
03 November 2008
Embedding ERM a 'significant' challenge
A survey by Towers Perrin has found that the process of integrating Enterprise Risk Management (ERM) into businesses is proving challenging, with significant work still required to utilise economic capital (EC) in decision making.
03 November 2008
FSA prepares for crisis in UK insurance sector
UK regulator the Financial Services Authority (FSA) is assembling a crisis team of advisers amid fears that the insurance sector is the next to be engulfed by the financial storm that has brought the banking sector to its knees.
03 November 2008
Advent optimistic despite volatile 2008
Lloyd's (re)insurer Advent Capital Holdings plc is optimistic about prospects for 2009 after a volatile first three quarters that have seen it just about break even for the year to 30 September 2008.
03 November 2008
OdysseyRe profits up on realised gains
Fairfax subsidiary OdysseyRe has posted a third quarter net income of $121.5mn, up $9.4mn on the same point last year, as it became one of the few companies in the sector to benefit from net realised gains.
03 November 2008
Validus hires Hawksby for Talbot energy drive
Former president of AIG Global Energy Property David Hawksby is set to head a new energy team at Talbot Underwriting, the Lloyd’s operation of Bermudian (re)insurer Validus Holdings, The Insurance Insider can reveal.
03 November 2008
Aspen and RenRe slide to Q3 losses
Aspen Insurance and RenaissanceRe became the latest Bermudians to post Q3 net losses hit by heavy hurricane and investment losses.
03 November 2008
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