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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
Hampden lists on AIM despite falling short with IPO
Lloyd's investment vehicle Hampden Underwriting plc (HUP) listed on the London Stock Exchange's Alternative Investment Market (AIM) despite failing to raise the planned £15mn.
10 September 2007
SEC subpoenas Greenberg
Former American International Group (AIG) supremo Maurice “Hank” Greenberg has been subpoenaed by the Securities and Exchange Commission (SEC) as part of its investigation into alleged accounting irregularities at the firm.
10 September 2007
Chaucer profits up 89.3 percent for first half of 2007
Specialist Lloyd’s insurance group Chaucer Holdings plc announced continued strong financial performance, with pre-tax profit of £47.9mn, despite softening rates across most lines of business.
10 September 2007
First Singapore scheme closed
Insurance services company Whittington has overseen the first successful scheme of arrangement for a Singapore-based insurance company, with the closure of Lion City Run-Off Private Ltd.
07 September 2007
Tawa adds Axiom trio to APH team
Newly-listed Tawa plc raided outsourcing firm Axiom Consulting to strengthen its asbestos, pollution and health hazard (APH) expertise.
07 September 2007
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