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  • 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.
  • Two industry veterans have formally launched their re-branded reinsurance brokerage, TigerRisk Partners.
  • Allied World Assurance Company Holdings Ltd (AWAC) has become the latest Bermudian to make a move to Switzerland.
  • 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).
  • Gallagher UK is aiming to bolster its MGA capabilities with the proposed acquisition of the agency operations of London-headquartered Oxygen Holdings plc.
  • Swiss Re Capital Markets has won a $1.5bn mandate to securitise US earthquake risk for the California Earthquake Authority (CEA) in its latest, and by far the largest deal.
  • In the absence of market-changing catastrophe activity through the rest of the year, Lloyd's opening capacity for 2009 looks set to be marginally down on its £15.95bn stamp capacity at the start of 2008.
  • Marine/energy (re)insurers face losses that could mount to $1bn as US homeowner insurers look to subrogate claims arising out of last October's California wildfires.
  • 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).
  • If a market-changing event hit the reinsurance sector this year, forced M&A activity and sidecar issuance would be the likely outcome rather than the formation of a new 'class of 2008', according to leading industry figures.