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Green light for Allianz to recover third party WTC damages
German insurer Allianz has won a ruling allowing it to recover damages from third parties if they are found to be at fault in the 9/11 attacks on the World Trade Center.
16 June 2008
Guy Carp appoints Mango as chief actuary
The former head of Guy Carpenter & Co's enterprise risk management advisory group Don Mango is to take up the new position of chief actuary, the reinsurance broker confirmed last week.
16 June 2008
MBIA shares buoyed by plan for new subsidiary
Bond insurer MBIA Inc is reconsidering the deployment of the $900mn it raised in a recent equity public offering, including the launch of a new insurer.
16 June 2008
Greenberg committed to Lehman Bros investment
The investment vehicle of former American International Group Inc (AIG) CEO and chairman Maurice "Hank" Greenberg will continue with its planned purchase of a stake in Lehman Bros despite expected senior management changes and the posting of...
16 June 2008
Juniperus makes first investment in sidecar
Alternative investment vehicle Juniperus Insurance Opportunity Fund (JIOF) has made its first investment, of $7.5mn, in Hannover Re's sidecar Globe Re, our sister publication Trading Risk revealed.
16 June 2008
Gallagher wholesale buy completes Heath Lambert retail focus
Heath Lambert's drive to divest itself of its wholesale business units to focus on UK retail was finally realised last week when the intermediary sold its Global Business Solutions (GBS) unit to Arthur J Gallagher International Ltd.
16 June 2008
ILS issuance storms ahead in wind season
Swiss Re has successfully closed its $150mn Vega Capital Ltd collateralised risk obligation (CRO) transaction, while Allstate also bought its second $250mn Willow Re cat bond to market, our sister publication Trading Risk revealed.
16 June 2008
US P&C insurers to post 2008 underwriting loss
US property & casualty insurers look set to post a modest underwriting loss and suffer significant reduction in profits and return on surplus for the year, according to Fitch Ratings.
16 June 2008
European premiums flat in 2007; new CEA president
Despite strong competition between insurers and the wider financial markets total premium income for European insurers held steady last year, according to figures from the Comité Européen des Assurances (CEA).
16 June 2008
New president named at Travelers
The Travelers Companies COO Brian MacLean has also been named president of the group after being promoted from executive vice president.
16 June 2008
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