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  • Closing prices for 2008 US cat windstorm losses leapt nearly six percent yesterday on the derivatives platform Insurance Futures Exchange Services (IFEX) signalling that traders think there is a greater chance of a major windstorm loss next year.
  • Cevian Capital, the activist investment fund backed by Carl Icahn, has taken a 3 percent stake in Munich Re.
  • Credit default swap (CDS) spreads for European insurance companies have again leapt, reflecting renewed sub-prime fears over insurance security.
  • Analysts and commentators are becoming more confident in offering predictions on the estimated level of sub-prime related losses in financial markets and (re)insurance markets alike, with most agreeing that the worst news has yet to emerge.
  • Barbican Syndicate 1955 became the latest Lloyd's start-up welcomed into the fold in November, the eighth new venture approved this year combining to bring in excess of £650mn fresh capacity to the market for 2008.
  • It may still be unlikely, but there is always the potential of the nightmare scenario envisaged more than 20 years ago by industry legends Robert Clements and Robert Newhouse when they set up...
  • In a special three-page report, The Insurance Insider has a comprehensive analysis of the various initiatives being deployed by brokers to raise revenues in the soft market
  • Capacity moderately down as start-ups offset de-emptions
  • In addition to recent brokerage increases by its UK and European operations, Marsh is in discussions with carriers to introduce "enhanced commissions" in its US middle market and small commercial business.
  • Additional commissions are only one of a number of new initiatives being imposed by brokers as they seek to protect their revenues in the current soft market conditions.