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AIG agrees $742mn sale of Hartford Steam Boiler to Munich Re
American International Group (AIG) and Munich Re have agreed a deal that will see the German reinsurer buy Hartford Steam Boiler Group (HSB) for $742mn cash in the first significant insurance deal as part of the beleaguered US insurer’s asset sale program
22 December 2008
Ivan's fury fuels energy renewals
There is increasing evidence that energy renewals have been hard hit by Hurricane Ivan, the Category 5 hurricane that ripped through the Caribbean and Florida in September 2004.
01 January 2005
Retro loss warranty buyers face post Katrina price hike
As the reinsurance industry converged on Monte Carlo for the annual reinsurance Rendez-Vous last week, conversations seldom strayed far from Hurricane Katrina. But amidst the champagne and conjecture, there was a general consensus that rates would...
19 September 2005
The Insurance Insider 2006 London market survey - Competition and disconnect
The Insurance Insider’s 2006 market survey, in association with Salmon Ltd, will gauge the views of senior industry figures on the competitiveness of the London market at a time of extraordinary flux for the industry. It takes less than five minutes...
29 March 2006
Reserve releases continue to bolster profits, but tail deterioration re-emerges
While the majority of US and Bermudian (re)insurers reported third quarter results that benefited from continued prior-year reserve releases, a number were also impacted by unfavourable development on long-tail business, including asbestos and workers' compensation.
19 November 2012
Connecticut MSA subpoenas gather pace; Hartford underwriters fired
As the fallout of New York attorney general Eliot Spitzer’s investigation into contingent commissions gathers pace, it emerged last Friday (12 November) that Connecticut’s attorney general Richard Blumenthal has now issued subpoenas to 42 insurers and ins
15 November 2004
Lloyd's should get tougher on LMP implementation, says Prettejohn
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
01 May 2004
Reserve buffers could accelerate cycle, say analysts
A number of (re)insurers are growing significant reserve redundancies, potentially using them to support margins and returns as the market softens, according to research by analysts at Morgan Stanley.
11 October 2006
Lloyd's refuseniks face bankruptcy after another defeat
Around 30 Lloyd's Names face bankruptcy after losing a key court case last month over claims that they had been misled over reinsurance to close (RITC) which means Lloyd's syndicates take up business from prior years.
07 July 2008
Analysts bullish on Chaucer prospects
Shares in Chaucer Holdings plc were up almost 6 percent to 99p in trading this morning (19 March) as the Lloyd’s insurer impressed analysts with record pre-tax profits of £86mn and return of equity (ROE) of 37.7 percent.
19 March 2007
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