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Brown victorious as PLP retains Bermuda power
Bermuda's Progressive Labour Party (PLP) emerged victorious in the island nation's general election earlier this week.
21 December 2007
AWAC buys out founding shareholder AIG
Bermudian (re)insurer Allied World Assurance Company Holdings (AWAC) has repurchased 19.4 percent of its common stock from one of the firm's founding shareholders, American International Group Inc (AIG).
21 December 2007
CEA exposed to ailing Mainsail II
The California Earthquake Authority (CEA) has emerged as the latest industry victim of Mainsail II LLC, the ailing structured investment vehicle (SIV).
21 December 2007
Ex-RenRe chief to launch new venture
Renowned reinsurance industry figures Jim Stanard and Rod Fox have teamed up to launch an insurance management firm backed by venture capital.
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
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
Mayer Brown in Asia merger
Global law firm Mayer Brown LLP is to merge with the Asian law firm, Johnson Stokes & Master (JSM).
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
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
US P&C insurers profitability slips despite benign catastrophe year
The US property/casualty insurance industry's after tax net income rose 7.1 percent to $49.4bn in the first nine months of 2007, but profitability slipped to 13.1 percent for the period from 13.8 percent in the previous year, as underwriting results deter
21 December 2007
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