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Brit profits halve on investments and UK business
In common with many (re)insurers reporting half-year figures, Brit Insurance Holdings plc saw profits suffer as a result of unrealised losses on its investment portfolio, partly offset by reserve releases and a foreign exchange profit.
27 August 2008
CastlePoint targets insurance with $135mn Hermitage deal
Bermudian CastlePoint Reinsurance Company Ltd has agreed a $135mn deal to buy US excess and surplus (E&S) lines and admitted insurer Hermitage Insurance Group.
27 August 2008
SCOR continues to profit from Converium acquisition
SCOR has reported a 24.3 percent rise in half-year net profits as last year's Converium acquisition continues to fuel the reinsurer's results.
27 August 2008
Former Guy Carp team launches M&A start-up
Paul Lumbis, the former managing director at Guy Carpenter & Co Ltd's M&A division at GC Securities Ltd is to head a new corporate finance advisory practice Atlas Partners LLP.
26 August 2008
AM Best affirms XL; warns on staff retention
AM Best has become the latest ratings agency to affirm XL Capital ratings and remove them from review after the Bermudian reinsurer closed a deal to end the majority of its exposure to former bond insurance arm Security Capital Assurance (SCA).
26 August 2008
More Bandits Where They Came From
Dear friend, A quick explanation – and the repayment of a debt of honour for the inspiration for IQ summer 2009's front cover.
Mark Geoghegan
,
25 August 2008
Alabama insurance regulator joins Swiss Re
Swiss Re has hired Alabama insurance commissioner Walter Bell as chairman of its US operations, Swiss Re America Holding Corporation.
22 August 2008
Senior Marsh exec to leave broker
The head of Marsh's global industry practices, James Enelow, is to leave the broker as the company continues with its restructuring plans, The Insurance Insider revealed earlier this week.
22 August 2008
SCOR legacy resolution leads to Fitch upgrade
SCOR has had its Insurer Financial Strength (IFS) rating upgraded a notch to A by Fitch Ratings as the agency said the French reinsurer's past legacies are unlikely to return to haunt it.
22 August 2008
Spiller to chair Lloyd's insurer
Bermudian Argo Group International Holdings has appointed former Guy Carpenter CEO, David Spiller, to take the position of chairman at its recently acquired Lloyd's insurer Heritage Managing Agency plc.
22 August 2008
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