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  • Munich Re’s first quarter profits dipped 19 percent as it took a EUR578mn hit in its reinsurance division from the spate of major losses hitting the market in the period.
  • Insured losses from Cyclone Larry, which struck northeastern Australia last month, are estimated at between AUS$300mn and AUS$400mn by ratings agency Standard & Poor's (S&P). The agency said that, although Larry had been a major disaster for the...
  • Marsh is mulling the formation of a UK-based facultative (Fac) reinsurance arm that could end up competing with sister company, Guy Carpenter & Co, The Insurance Insider understands.
  • Bermuda-headquartered Aspen Insurance Holding has appointed Mario Vitale to oversee its US operations as the firm continues its ambitious plans for growth in the states.
  • Kevin Kelley has become the highest profile departure from American International Group (AIG) as he left his position as president and CEO of the US giant's Lexington Insurance Company subsidiary to take the reins at Ironshore Inc.
  • Bermudian giant XL Capital announced the latest step in a series of organisational changes on 1 August with plans to develop an integrated European platform for its reinsurance operations.
  • Lloyd’s this morning announced half-year pre-tax profits of £1.35bn – marginally down on the £1.38bn booked at the same stage last year – as strong underwriting results in benign conditions were offset by a fall in investment income.
  • The London reinsurance market is gearing itself up for a potential legal battle over claims relating to the US energy giant Sempra, The Insurance Insider understands.
  • US giant American International Group (AIG) is urging regulators to change accounting rules on asset valuations to staunch the flow of writedowns from banks and (re)insurers.
  • Welcome to the 2011 Global Energy & Power Review. Looking back at last year's inaugural publication, many things have changed in the power and energy sector