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Fitch puts XL on watch negative over capital concerns
Fitch Ratings has put XL Capital on Rating Watch Negative on concerns over the (re)insurer’s capital position following its announcement of heavy investment losses.
22 October 2008
Platinum Q3 results consistent with previously announced estimates
Bermuda registered reinsurer Platinum Underwriters Holdings Ltd reported a Q3 net loss of $45.3mn, in line with the company's expected ultimate loss estimates of $120mn as a result of hurricanes Gustav and Ike...
22 October 2008
Platinum posts higher than expected Q3 losses
Bermudian (re)insurer Platinum Underwriters Holdings Ltd reported a Q3 net loss of $45.3mn, compared to $91.3mn for the same point in 2007.
22 October 2008
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
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