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Zurich profits up despite $656mn US reserves boost
Despite increasing half-year net profits by 93 percent to an impressive $1.448bn, the spectre of US legacy business returned to haunt Zurich Financial Services (ZFS) as the insurer revealed it had boosted net reserves by $656mn, with $582mn targeted at it
23 August 2004
Catastrophes weigh on Aspen’s Q2
Catastrophe losses and lower year-on-year reserve releases helped cut Aspen Insurance Holdings Limited's second quarter net income in half to $40.1m.
25 July 2013
AIG bailout will cost taxpayers $50bn, government says
The bailout of American International Group (AIG) at the height of the financial crisis will end up costing the American taxpayer $50bn, the US government's latest forecasts suggest.
23 April 2010
Towergate founder calls for greater transparency
Broker commission transparency is "inevitable", according to Peter Cullum, the founding chairman of Towergate Partnership, yet he insisted the London market needs to eradicate major inefficiencies in order to compete in the long-term.
29 May 2007
Lloyd’s to levy compulsory loan on members from 2005
Lloyd’s underwriting members will provide a compulsory loan from next year as part of a scheme to grow the Society’s central assets and improve its financial strength ratings.
19 July 2004
Cuomo in $120mn New Year farewell
In a flurry of activity before he stood down on New Year's Eve, former New York Attorney General Andrew Cuomo struck a $120mn settlement with four insurers over workers' compensation policies.
13 January 2011
BMS and CJ Coleman set for High Court showdown
BMS Group is set for a High Court showdown with CJ Coleman this week over the departure of the former managing director of its BMS Harris & Dixon Ltd subsidiary and a team to the rival London market broker earlier this year.
17 November 2008
Tornadoes hit central and southern US
Several tornadoes hit parts of the central and southern US on Sunday night (27 April), killing at least 12 people and causing widespread damage, according to local reports.
28 April 2014
US P&C sector still shrinking; no return to profitability in 2009
US commercial property and casualty (P&C) (re)insurers returned to loss in 2008 and there is little sign of an immediate turn back to profitability, according to Fitch Ratings.
15 June 2009
Argo reshuffles E&S management after Levinson resigns
Argo Group's excess and surplus lines (E&S) president Lou Levinson has resigned from the Bermudian (re)insurer, The Insurance Insider has learned.
16 August 2013
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