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Arch confirms 2009 Lloyd's launch; RenRe next?
Bermuda-based (re)insurer Arch Capital Group has received approval in principle from the Lloyd's Franchise Board and UK regulator the Financial Services Authority (FSA) to establish a new managing agent and syndicate at Lloyd’s.
26 January 2009
Swiss Re hit by fresh write-down concerns; insurance stocks slide
Swiss Re led the slide in European insurance stocks on Friday (23 January) as its share price fell more than 20 percent amid concerns that it is set for a further round of heavy write-downs and may need to raise capital when it reports its fourth quarter
26 January 2009
PartnerRe sees growing reinsurance demand
Bermudian-based PartnerRe recorded a 12 percent cancellation rate during its key 1 January renewals; a figure which it said was the lowest seen over the last five years and reflects "a reversal of the trend of increasing client retentions."
26 January 2009
Chicago sees Florida cat futures trading grow; Carvill withdraws
The Chicago Mercantile Exchange (CME) has traded $30mn notional limit of its CHI hurricane cat futures in the first weeks of 2009, as reinsurance broker Carvill withdraws from the initiative which it founded in 2007.
26 January 2009
Hannover Re exec linked with Swiss Re reshuffle
Outgoing Hannover Re and E+S Rück CFO Elke König has been tipped for a role at giant reinsurer Swiss Re, according to sources.
26 January 2009
Japanese non-life trio confirm merger plans
Aioi Insurance, Mitsui Sumitomo (MSI), and Nissay Dowa confirmed plans to merge by April 2010, creating Japan's largest non-life insurer with a combined market value of approximately ¥1.4tn ($11bn).
26 January 2009
Navigators forms new London energy practice
US insurer Navigators Group is pulling its energy, engineering and construction risks together into a new business unit, Navigators Technical Risk (NavTech).
26 January 2009
JP Morgan repays Brit with downgrade
Brit Insurance Company appointed JP Morgan Cazenove to become its co-adviser and was rewarded with a downgrade two days later by the firm’s parent company, JP Morgan.
26 January 2009
Chaucer confirms capital raising plans; says reinsurance programme 'in place'
Lloyd's insurer Chaucer Holdings plc confirmed last week that it is looking to raise additional capital after speculation had contributed to a near 40 percent slide in its share price this month.
26 January 2009
People Moves
AIG appoints new chief investment officer; managerial restructuring...
26 January 2009
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