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MMC axes Cherkasky
Michael Cherkasky, the president and chief executive of Marsh & McLennan Companies Inc (MMC), has been axed by the firm following continuing criticisms of the group's performance.
21 December 2007
MMC axes Cherkasky
Michael Cherkasky, the president and chief executive of Marsh & McLennan Companies Inc (MMC), has been axed by the firm following continuing criticisms of the group’s performance.
21 December 2007
Lloyd's plans to enter Brazil following de-regulation
Lloyd's is planning to enter the Brazilian reinsurance market as an admitted carrier following the country's approval of plans to scrap its collateral requirements for higher rated reinsurers.
21 December 2007
House passes seven year TRIA extension
The US House of Representatives has voted to extend the Terrorism Risk Insurance Act (TRIA) for seven years, bowing to Senate lawmakers who passed a similar programme in November.
21 December 2007
Tax and distribution fuel Hardy's planned Bermuda redomicile
The UK's restrictive tax regime as well as proximity to the US market are key reasons for Lloyd's (re)insurer Hardy Underwriting Group's decision to redomicile to Bermuda, the company explained.
21 December 2007
2007 natural catastrophes cost industry $25bn
Natural disasters cost $61bn in economic damages in 2007, approximately $25bn of which was insured losses, according to research by reinsurance giant Swiss Re.
21 December 2007
JLT to 'avoid blurring of roles' with Thistle launch
Jardine Lloyd Thompson Group plc (JLT) has become the latest broker to launch an underwriting operation as it looks to develop its revenue streams.
21 December 2007
IPC gets negative outlook on ERM concerns
Bermudian catastrophe reinsurance specialist IPC Holdings Ltd has seen its reinsurance subsidiaries assigned a negative outlook by AM Best over enterprise risk management (ERM) concerns.
21 December 2007
ACE sees growth opportunities tighten; offers sub-prime reassurance
Bermudian-headquartered insurance giant ACE Ltd has sought to reassure investors over the potential exposure of its investment portfolio to the sub-prime fallout.
21 December 2007
Newton Re expands cat bond investor base
Catlin's $225mn Newton Re cat bond has attracted new investors to the sector from outside the traditional investor base - a testament to the growing attractiveness of insurance linked securities (ILS) to the capital markets.
21 December 2007
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