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Hiscox sees US peak zone rate increases of up to 25 percent
Hiscox Ltd, the UK quoted (re)insurance group, has joined a growing number of (re)insurers reporting hardening US catastrophe rates in the key January renewals season.
26 January 2009
AJ Gallagher in $120mn mid-market renewal deal
AJ Gallagher is to acquire the renewal rights from a Liberty Mutual middle-market commercial property/casualty business in a deal potentially worth nine figures.
26 January 2009
International Group P&I reinsurance costs rise again
Shipowners face a hike in premiums next month after the International Group of P&I Clubs (IG) unveiled general increases on all classes of vessel in its excess of loss reinsurance renewal...
26 January 2009
Ike losses continue to escalate
Bermudian (re)insurer Validus Holdings Ltd joined the crowd of underwriters increasing their loss estimates from Hurricane Ike as the harsh impact of the September 2008 storm continues to mount.
26 January 2009
European insurers 'extremely stretched'
European insurers' pure solvency ratios are "extremely stretched" and 2009 will be an acutely difficult year for some of Europe's largest market participants, particularly in the life sector...
26 January 2009
Madoff: 'straw that breaks the camel's back'?
Adding the Madoff scandal to the list of litigation-spawning incidents which have caused a myriad of unprecedented dislocations in the financial system could be "the straw that breaks the camel’s back" for the professional and managerial indemnity markets
26 January 2009
Catlin FY loss predicted, possible fundraising
Bermuda-headquartered Lloyd's (re)insurer Catlin is predicted to swing to a full-year loss for 2008, and may need a capital infusion, according to Numis Securities.
26 January 2009
Icelandic banks face £360mn lawsuits
Creditors of collapsed Icelandic banks have brought legal actions in the UK High Court totalling £360mn to date.
26 January 2009
Swiss Re shares slump 43 percent on week
Swiss Re has led the slide in European insurance stocks today as its share price fell more than 20 percent amid concerns that it is set for a further round of heavy writedowns when it reports its fourth quarter 2008 figures next month.
23 January 2009
Chaucer confirms capital raising plans
Lloyd’s insurer Chaucer Holdings plc, has confirmed that it is looking to raise additional capital.
23 January 2009
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