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Markel International welcomes Fitch upgrade
Markel International Insurance Company Ltd (MIICL) has welcomed its upgrade by Fitch Ratings to A with a positive outlook.
19 November 2007
P&I claims inflation to increase shipowner rates, says Aon
A trend of expensive P&I (protection & indemnity) pool claims is set to feed through to further rate increases for shipowners, according to the latest report by broker Aon on the sector.
19 November 2007
SCOR profits on acquisitions
SCOR has booked net profits of EUR299mn for the year-to-date, up 93 percent on the prior-year period, along with top line growth boosted by the acquisitions of Converium and Revios.
19 November 2007
Global losses from sub-prime may reach $400bn
Financial markets' losses from the falling value of sub-prime mortgage assets may reach $300-400bn worldwide, representing a default on 30–40 percent of global sub-prime debt, according to Mike Mayo, analyst at Deutsche Bank.
19 November 2007
Former QBE exec to launch new Lloyd’s syndicate
Former QBE Limit underwriter Mark Harrington is to head a new Lloyd’s composite syndicate with an expected capacity of £75mn for the 2008 year, The Insurance Insider can reveal.
19 November 2007
Insured losses under $80mn from Chilean quake - AIR
Catastrophe risk modelling firm AIR Worldwide Corporation has estimated that insured losses from the earthquake that struck Chile last week will not exceed $80mn.
19 November 2007
Gallagher Re loses key executive
Steve Taylor, business development officer for Gallagher Re, is leaving the reinsurance broker to join one of its clients, WR Berkley Corporation.
19 November 2007
NAIC releases modernisation proposals
The National Association of Insurance Commissioners (NAIC) has formally released its Reinsurance Regulatory Modernisation Proposal, which will allow the recognition of foreign regulators...
19 November 2007
Life business helps Zurich weather storms
Growth in its life business was the driving force behind a 25 percent rise in profits at Swiss insurance giant, Zurich Financial Services Group (ZFS), it reported on 15 November.
19 November 2007
Catlin COO urges insurers to hold on to capital in sub-prime storm
Catlin Group COO, Paul Jardine, has called on insurers to be "very wary" of repatriating capital to shareholders in the current market environment, as the sub-prime debacle may hamper future attempts at capital raising.
19 November 2007
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