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Sagicor benefits from Lloyd's acquisition
Sagicor Group of Companies has announced that group net profits increased by around $9mn compared with the prior-year period after profiting from the Lloyd's platform it acquired in September 2007.
18 August 2008
Fay on track for Florida hurricane landfall
Tropical Storm Fay is expected to reach hurricane strength after crossing western Cuba and is on track to hit Florida later today (18 August), according to forecasters at Tropical Storm Risk.
18 August 2008
Benfield stock rises after upgrade
Benfield Group Ltd received a boost last week after Merrill Lynch upgraded the stock to "Buy" following its solid first-half year results.
18 August 2008
Hiscox pre-tax profits rise to £109mn
Lloyd's insurer Hiscox Ltd has posted a rise in pre-tax profits with reserve releases, a solid investment performance and strong underwriting returns defying the gloom of the soft market and credit crunch.
18 August 2008
Wachovia's financial guarantor files for bankruptcy
BluePoint Re Ltd, the Bermuda-based financial guaranty reinsurer owned by US bank Wachovia Corp, has filed for Chapter 15 bankruptcy protection in New York, citing defaults on mortgage-related products.
18 August 2008
Aon launches new Takaful team
Aon Corporation has announced the launch of a new Takaful unit, which will form part of its reinsurance arm Aon Re Global.
18 August 2008
OIL reduces 2008 premiums
Bermudian energy mutual Oil Insurance Ltd has reduced the 2008 premiums due from its members at last month's board meeting.
18 August 2008
RMS unveils new winter cat models
Risk Management Solutions (RMS) has launched new winter storm and severe convective storm models for North America to assess losses from different weather events.
18 August 2008
Cat futures continue to attract
Interbroker-dealer Evolution Markets has launched a new division for trading and structuring catastrophe derivatives following its successful entry into the weather derivatives market.
18 August 2008
S&P downgrades US P&C sector outlook
Ratings agency Standard & Poor's revised its outlook for the US commercial lines and property & casualty (P&C) sector to negative last week on the back of continued price softening and declining investment returns.
18 August 2008
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