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Benfield Advisory builds innovative WC catastrophe facility
Specialist corporate finance firm Benfield Advisory has developed a new parametric reinsurance product, aimed at transferring workers' compensation catastrophe (WCC) coverage to reinsurers and the capital markets.
21 April 2008
Cooper Gay in advanced talks to buy Heath Lambert wholesale arm
(Re)insurance broker Cooper Gay & Co Ltd is in advanced talks to acquire the wholesale operations of Heath Lambert Group, The Insurance Insider can reveal.
21 April 2008
Asia spurs 13 percent new business growth at Pru
UK financial services group Prudential Plc has delivered a 13 percent increase in new business, at £729mn for the first quarter of 2008, despite a "challenging" economic environment.
21 April 2008
Fairfax: US economy facing one-in-100-year crash
The US economy woes are set to continue and worsen as it faces a one-in-100-year crash similar to the 1929 stock market meltdown that preceded the Great Depression, according to Prem Watsa, head of Fairfax Financial Holdings.
21 April 2008
Montpelier Re US unit welcomes new chief
Former Catlin senior vice president Francis "Bud" Lockwood has been named as president of Montpelier Re's US unit, Montpelier Underwriting Inc (MUI).
21 April 2008
Integro boosts London platform
Integro Insurance Brokers is due to make two new appointments to boost its London platform.
21 April 2008
llinois quake marks 1906 'Big One' anniversary
On the 18 April anniversary of the 1906 San Francisco "big one", a magnitude 5.4 earthquake shook southern Illinois last week issuing a warning to (re)insurers, some of whom are already reducing quake coverage.
21 April 2008
Large risk losses to hit Munich Re Q1 results
Munich Re warned its first quarter 2008 profits are likely to be down on last year's, following "major losses" in the first three months of the year.
21 April 2008
European Commission consults on anti-trust exemption
The European Commission has launched a public consultation on whether the (re)insurance industry should remain exempt from the European Union's anti-trust rules.
21 April 2008
RBS cash raise could include sale of insurance subsidiaries
Credit crunch-hit Royal Bank of Scotland (RBS) could sell insurance subsidiaries Direct Line and Churchill to raise up to £5bn, according to industry commentators.
21 April 2008
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