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'Difficult time' for ILS market
The soft traditional reinsurance markets and hard credit markets are dampening 2008 insurance linked securities (ILS) issuance, creating a "difficult and challenging market".
08 September 2008
Gustav's imperfect storm
Despite dire warnings from the Mayor of New Orleans and speculation that it could be on a par with 2005's hurricane Katrina, initial fears over hurricane Gustav ultimately proved to be unfounded.
08 September 2008
Aviation renewals reflect Madrid loss
Last month's air disaster involving a Spanair McDonnell Douglas MD-82 that crashed at Madrid airport, claiming 154 lives, has - at least temporarily - halted the decline in aviation rates at recent renewals.
08 September 2008
Rating agencies stable on global reinsurance sector
Tough market conditions that are providing reinsurers with the "sternest possible test" of their enterprise risk management (ERM) are likely to lead to a number of rating outlook changes, according to credit agency Standard & Poor's (S&P).
08 September 2008
Enstar and Goldman tie-up to bid for Travelers portfolio
The race to buy Travelers' long-tail run-off portfolio - Unionamerica Insurance Company Ltd - has been whittled down to the serious bidders, with at least five major players vying for the acquisition, The Insurance Insider has learnt.
08 September 2008
Hiscox faces £40mn Names challenge
Hiscox Ltd remains in discussions with members' agents and Lloyd's over controversial plans to launch a new syndicate backed 100 percent by its own capital to write business currently on its Names-backed Syndicate 33.
08 September 2008
Hannover invests $50mn in Lohmann-managed ILS fund
German reinsurer Hannover Re has supported former executive Dirk Lohmann with a $50mn investment in his new Secquaero insurance linked securities (ILS) fund, according to sources close to the deal.
08 September 2008
Willis reintroduces Faber Dumas brand
Willis decided to resurrect one of the broking industry's famous old names with plans to re-brand London market broking subsidiary Glencairn, acquired as part of the $2.1bn Hilb Rogal & Hobbs takeover, as Faber Dumas.
08 September 2008
AIG looks to dump toxic assets
American International Group (AIG) is considering setting up a new company in which to dump toxic assets that have so far led to more than $25bn of write-downs in its financial products division (AIGFP).
08 September 2008
Benfield rejects increased 360p Marsh offer
Last minute negotiating between Benfield chief executive Grahame Chilton and broking giant MMC saw the reinsurance specialist reject an increased 360p a share offer from the New York headquartered firm in favour of Aon's all cash offer.
08 September 2008
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