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Brit profits flat after drop in UK performance
Insurer Brit Holdings plc has reported flat first half profits of £106.8mn following a drop in underwriting profits in the "difficult" UK market.
10 September 2007
ILS indemnity trend to continue
Indemnity style triggers have become an established feature of insurance-linked securities (ILS) transactions and the trend is likely to continue, predicted Aon's Paul Schultz.
10 September 2007
Munich Re threatens terror withdrawal over state pools
Munich Re has threatened to withdraw cover from markets abandoning state terrorism pools.
10 September 2007
Glacier grows into soft market
Swiss reinsurer Glacier Re has continued to grow over the first six months of 2007 despite the soft prevailing market conditions.
10 September 2007
Alea posts $11mn loss for first half of 2007
Recently-acquired Bermudian run-off insurer Alea Group Holdings posted weak first half results amidst the firm's takeover by New York-based hedge fund Fortress Investment Group (FIN).
10 September 2007
Typhoon Fitow hits Japan, but insured losses under $1bn
Typhoon Fitow, this year’s ninth named storm in the western Pacific, made landfall in Kanagawa state southwest of Tokyo on 7 September, with maximum sustained winds of 86 mph.
10 September 2007
NAIC proposes collateral rule change
The National Association of Insurance Commissioners (NAIC) has proposed a rule change to the collateral requirements made on "alien" reinsurers.
10 September 2007
Marsh CEO performs u-turn on resignation
Tim Mahoney, the senior Marsh Inc executive who was heading for rival firm Integro Ltd last week has performed a u-turn over the weekend after receiving a "vastly improved offer" from the broker.
10 September 2007
Florida opportunities for reinsurers, says S&P
Expansion of the Florida Hurricane Catastrophe Fund (FHCF) at the beginning of the year has created “new profit opportunities” for reinsurers, according to rating agency Standard & Poor’s (S&P).
10 September 2007
Swiss Re Europe receives AA-
Swiss Re’s newly formed Luxembourg hub has received an AA- rating by Standard & Poor’s.
10 September 2007
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