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Munich Re sets up admitted carrier in liberalised Brazil
The deregulated Brazilian (re)insurance industry is set to welcome its latest admitted carrier, German giant Munich Re which is setting up a subsidiary in São Paulo.
06 February 2008
Houldsworth under fire in Gen Re finite trial
John Houldsworth, the former chief executive of Cologne Re Dublin, came under fire at the General Re finite trial with defence lawyers questioning his honesty, reliability and memory.
04 February 2008
FSA flags up wholesale concerns
UK regulator the Financial Services Authority (FSA) warned last week that it is scrutinising the wholesale broking industry and called on the sector to implement the necessary "culture change".
04 February 2008
Allstate slashes reinsurance spend; net income falls
US insurer Allstate Corp has seen its reinsurance cost fall sharply after cutting back its catastrophe exposures.
04 February 2008
Bromley finally joins Aon Re
Geoff Bromley, the former chairman of Guy Carpenter's European and Asian operations, has joined Aon Corp after serving a long notice period following his resignation last year.
04 February 2008
Lloyd's misses ECF targets despite dramatic December increase
Lloyd's has remained upbeat despite the market missing the 100 percent 2007 target for take-up on usage of electronic claims files (ECF) as it ended the year at 88 percent.
04 February 2008
Sub-prime losses provoke another Scottish Re downgrade
Ratings agency Standard & Poor's (S&P) has downgraded Bermudian life reinsurer Scottish Re Group after its investment portfolio continued to suffer from the sub-prime crisis.
04 February 2008
Zurich in Scandinavian expansion
Zurich Financial Services is expanding in Norway and Denmark through two new branches of Zurich Insurance Ireland Ltd (ZIIL).
04 February 2008
Banks consider bond insurer bailout
Connecticut attorney general Richard Blumenthal has subpoenaed bond insurers as part of a probe into the fallout from the US sub-prime mortgage crisis.
04 February 2008
AJ Gallagher shares buoyed by imminent reinsurance sale
Shares in AJ Gallagher & Co traded up last week after the company revealed it was divesting its reinsurance unit.
04 February 2008
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