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Asbestos liability (re)insurer Iron Re in Bermuda launch
Bermuda is set to welcome Iron Re – a class 3 (re)insurer for corporate asbestos liability risk backed by hedge funds – according to documents seen by The Insurance Insider.
04 October 2007
Shareholders sue News Corp over hacking scandal
News Corp shareholders have amended a lawsuit accusing the Rupert Murdoch-led firm of nepotism to include accusations of poor corporate governance at the company leading to the News of the World (NoW) phone hacking scandal.
18 July 2011
KPMG hit by Independent Insurance fine
The auditors of failed UK insurer Independent Insurance have been fined £500,000 and ordered to pay costs of £1.15mn by the UK accountancy watchdog after a tribunal found the firm's conduct "seriously below the appropriate standard".
30 June 2008
Avalon Re C note investors left with $13mn loss
Energy mutual Oil Casualty Insurance Ltd's (OCIL) Avalon Re excess liability cat bond defaulted at its final maturity date last week (7 June), leaving the lowest tranche investors with a $13mn loss.
14 June 2010
Willis reports 4.2% organic growth and unveils new cost-cutting plan
Willis Group reported solid organic growth of commissions and fees of 4.2 percent for the second quarter as it launched a new multi-year cost-cutting programme expected to deliver $420mn of cumulative savings through 2017 and a further $300mn a year after that.
30 April 2014
Industry faces possible loss from Washington train crash
(Re)insurers are facing the possibility of a property and business interruption loss after last week's train crash on the Washington Metro, in a programme placed by Aon, The Insurance Insider's sister publication Inside FAC reports.
29 June 2009
Swiss Re upbeat on European demand; scrutinising pricing conditions
Swiss Re said it is "very well positioned" to enter January 2010 renewal discussions, but will focus on quality instead of quantity as it faces up to the pricing problems in key European markets.
26 October 2009
Competition challenges top-line for US insurers
US insurers Chubb Corporation and WR Berkley reported profits up and premiums down for the first quarter of 2007.
30 April 2007
Central Fund levy forecast to fall in 2008
Lloyd's Central Fund contributions and subscriptions charges will be held steady for 2007, but the Society believes it will be in a position to cut the Central Fund levy for 2008 - a year ahead of original forecasts.
17 July 2006
Hardy rejects £160mn Beazley takeover bid
Small quoted Lloyd's insurer Hardy Underwriting has rejected a £158.4m takeover approach from its larger rival Beazley Group, with the move offering further evidence that consolidation fever has taken grip of Lime Street.
18 October 2010
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