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Travelers Q3 income plummets; posts $208mn underwriting loss
US (re)insurer Travelers’ net income for the third quarter plummeted to $214mn compared to $1.198bn in the same period last year.
22 October 2008
Rutter leaves Lockton International
Former Independent Insurance executive Keith Rutter has left (re)insurance broker Lockton International for US insurer AmTrust.
22 October 2008
AIG reaches $115mn shareholder settlement
A $115mn settlement in the litigation brought by New Orleans Teachers' Retirement System against four former AIG chief executives and CV Starr & co has been preliminarily approved by Delaware Chancery Court.
22 October 2008
Hannover Re shares slide on profit warning
Hannover Re has issued a profits warning as it said would be unable to meet its full-year targets as a result of the double impact of financial markets turmoil and heavy catastrophe losses.
21 October 2008
NY considers selling $1bn insolvent (re)insurer
The New York insurance authorities are considering the innovative approach of putting the liquidation of Midland Insurance Company out to tender in a bid to improve the returns available to policyholders.
21 October 2008
Lloyd’s projects $2.34bn in Ike and Gustav claims
Lloyd’s expects its members to face net claims of £1.3bn, or $2.34bn, from hurricanes Gustav and Ike, based on an aggregate $20-25bn industry loss.
21 October 2008
Tunnicliffe confirmed as Kiln 807 active underwriter
Lloyd’s insurer RJ Kiln & Co Ltd has confirmed Lloyd Tunnicliffe as active underwriter on its Syndicate 807.
20 October 2008
Synergy enters HNW market on Inter Hannover paper
London managing general agency (MGA) Synergy Insurance Services has entered the high net worth (HNW) market with a product it says could cut premium layout for clients by up to 40 percent.
20 October 2008
‘Delusional’ internal capital management models must be revised, says FSA
Speaking during a panel discussion at rating agency AM Best’s third annual European insurance ratings conference, Tony Brooke-Taylor of the Financial Services Authority (FSA) said that many internal capital management models (ICM) do not capture the full
20 October 2008
Aon Benfield Re rolls out Analytics line-up
The soon-to-be giant broking combine Aon Benfield Re has finalised the management structure for its analytics team, as it emerged last week that Benfield shareholders had voted 99.8 percent in favour of the union with Aon.
20 October 2008
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