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  • Flagstone Re founder Mark Byrne, who stepped down as executive chairman of the Bermudian earlier this week, will receive a $2.2mn cash "goodbye" and has already cashed in $24mn worth of his original investment in the (re)insurer.
  • In contrast to Insider Week’s sister publication The Insurance Insider, analysts at US investment house Prudential Equity believe that the global brokers have only a marginal reliance on so-called Placement Service Agreements for their revenue.
  • A UK judge's ruling on the preliminary issues in a passenger aviation claim could have far-reaching ramifications for insurers, after it was decided that the Montreal Convention may not provide an exclusive remedy in awarding compensation for air disaster victims.
  • Willis Re CEO John Cavanagh says consolidation amongst larger global insurers is driving the trend towards more centralised reinsurance buying.
  • The US Securities and Exchange Commission (SEC) has charged another long-term employee of Bernie Madoff for facilitating the work of the swindler's massive Ponzi scheme.
  • Collateralised retrocession writer Catco has attracted at least $375mn from a new fundraising round, putting the firm's reinsurance funds under management at nearly $900mn in its first year.
  • Tokio Marine's net loss from the Great East Japan earthquake has grown from 90bn yen ($1.2bn) to 150bn yen ($1.9bn) in the months following the catastrophe.
  • Our 2006 London Market survey has provided interesting feedback on the structure of the market, the demise of Kinnect, the rise of the "gang of six" and the possible solutions available. Opinion is divided, however, in terms of the e-business...
  • Earlier in the day, Lloyd's CEO Nick Prettejohn had warned the audience of the market's need to change its behaviour in 2004 if it wished to avoid excessive swings in the cycle. He said 2004 was "a year of choice", in which insurers were "skirmishing w
  • All leave had been cancelled for Marsh Ltd’s London brokers at the end of last week as the firm steeled itself for the results of the investigation into its London market practices, but in the end the Freshfields Bruckhaus Deringer-produced 12-page report