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US expansion fears hit QBE shares
Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007, raising questions over its rapid expansion strategy.
10 March 2008
International News Digest
Buffett goes long on derivatives; Fairfax profits from credit bets; DIFC extends international attractions; AM Best stable on reinsurance; IRS captives tax u-turn...
10 March 2008
Mixed fortunes in monoline sector
The future for XL Capital affiliate Security Capital Assurance (SCA) looks untenable, as shares in the monoline insurance company plummeted to a 52-week low of just 67 cents.
10 March 2008
Max Capital in first Carvill derivative trade
Bermudian (re)insurer Max Capital Group has purchased two seasonal maximum hurricane derivative contracts for North Atlantic and Florida wind on the Chicago Mercantile Exchange (CME) which are based on the Carvill Hurricane Index (CHI).
10 March 2008
Amlin moves reinsurance account
Benfield has lost part of the prized Amlin reinsurance account to rivals Aon and Guy Carpenter, The Insurance Insider understands.
10 March 2008
Guy Carpenter reclaims New York power base
Marsh & McLennan (MMC) CEO Brian Duperreault has taken further steps to assemble his senior lieutenants around him in New York with key changes at reinsurance broking subsidiary Guy Carpenter.
10 March 2008
Atrium fights second North Korea claim
Ariel Re's specialist Lloyd's (re)insurer Atrium Underwriting is in another dispute with the North Korean state-owned insurer, this time over a train crash claim.
10 March 2008
Aon takes a fraction of Gallagher Re staff
The future is uncertain for nearly three quarters of Gallagher Re’s 250 employees following the deal worth around $40mn to sell the unit to Aon Corp.
10 March 2008
Fairfax accused of $400mn tax evasion as bitter conspiracy dispute continues
A New York-based hedge fund is continuing its counterclaim against Fairfax Financial Holdings, accusing it of avoiding paying $400mn in taxes, despite a judge dismissing it from the Canadian firm's racketeering lawsuit.
10 March 2008
Lloyd's Act reform proposes cross-ownership once again
Lloyd's brokers and underwriters will once again be allowed to invest and own each other if proposals to amend the Act governing the market are ratified later this year.
10 March 2008
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