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Troubled Q.Know closes door to new London business
Reinsurance software specialist Q.Know Technologies Inc is understood to have closed doors to new business as the firm undergoes “financial restructuring”, The Insurance Insider can reveal.
14 July 2008
Bertha skirts Bermuda in early start to hurricane season
Tropical windstorm Bertha - named the first Atlantic hurricane of 2008 - will skirt past Bermuda, after an unprecedented early start to the hurricane season.
14 July 2008
Investor pressure forces Zurich out of RBSI race
Investor pressure is thought to have been the key driver behind Zurich Financial Services (ZFS) sudden exit from the bidding process for the insurance business of the Royal Bank of Scotland (RBS) announced last Thursday (11 July).
14 July 2008
Natural Catastrophe insured losses in 2008 reach $13bn, says Munich Re
Insured losses from natural catastrophes so far this year have totalled $13bn in a period that will be remembered for years to come for its high natural catastrophe death toll, according to reinsurance giant Munich Re.
14 July 2008
SEC discovers 'significant weaknesses' in rating agencies
The Securities and Exchange Commission (SEC) has revealed "significant weaknesses" in ratingspractices following a 10-month investigation into rating agencies Moody's, Fitch and Standard & Poor's (S&P).
14 July 2008
Lloyd's broker SSL launches reinsurance division
Lloyd's broker SSL is to move into the reinsurance arena with a new division headed by former Glencairn executive Jeffrey Wright.
14 July 2008
Swiss Re refocuses on underwriting with senior management reshuffle
With the announcement by Swiss Re last week that Stefan Lippe is to become group deputy CEO and COO, replacing Andreas Beerli, the reinsurance giant appears to be refocusing its attentions on the underwriting side of the business.
14 July 2008
US wades in to shore up Fannie Mae and Freddie Mac
The US Treasury and Federal Reserve has attempted to stave off a further deepening of the credit crunch with plans for a temporary increase in a longstanding credit line for beleaguered mortgage giants Fannie Mae and Freddie Mac.
14 July 2008
Coverzones boosts funding as carrier invests
Recently launched SME online marketplace Coverzones has secured further funding with an investment from UK insurer MMA as it looks to expand its business, The Insurance Insider can reveal.
14 July 2008
After Zurich withdrawal will Allstate buy cheaper RBSI?
Following the withdrawal of Zurich Financial Services (ZFS) from the bidding process, the sale options for Royal Bank of Scotland's (RBS) insurance business look to be dwindling - along with the value the banking giant can expect to extract from the unit.
14 July 2008
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