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SCOR increases Converium ownership to 96.23 percent
French reinsurer SCOR has increased its ownership to 96.23 percent of Swiss firm Converium Holdings after the second offer period of its takeover.
06 August 2007
Ascot to open Houston platform
Lloyd's insurer Ascot Underwriting is set to open an office in Houston, Texas as it aims to secure locally placed energy business.
06 August 2007
Usagi losses expected to be below $500mn
Insured losses from Typhoon Usagi, which battered the southern Japanese island of Kyushu last week, are expected to be below $500mn, according to catastrophe modeling firm AIR Worldwide.
06 August 2007
Lancashire passes cat tests to quadruple profits
"Class of 2005" insurer Lancashire Holdings Ltd says it has completed the transition from start-up to specialty global insurer by passing recent catastrophe tests to post a hike in half-year profits.
06 August 2007
Markel looks for profitable growth
US insurer Markel Corp posted second quarter net profits of $121mn or $12.15 a share, up from $90.4mn or $9.11 a share in the prior-year period, as it announced plans for its Lloyd's operation to open up a Singapore office.
06 August 2007
CNA shares hit following investment losses
US (re)insurer CNA Financial Corporation's share price tumbled last week, as it announced disappointing second quarter results, including net investment losses of $91mn.
06 August 2007
Re-Ex sees first cat option transaction
Last week saw the first trade of a catastrophe options contract using the Re-Ex index developed by broker Gallagher Re with commodities exchange NYMEX in an over the counter (OTC) transaction.
06 August 2007
$500mn sidecar launched with new structure endorsement
The industry's latest sidecar, the $500mn Emerson Re, has been rewarded for its structure by the rating agency Standard & Poor's (S&P).
06 August 2007
UK insurers confirm post-flood rate hikes
UK insurers have finally confirmed this week that they will increase rates following this summer’s flooding which is estimated to cost the industry around £3bn.
03 August 2007
Guy Carpenter chairman to join Aon
Geoff Bromley, the chairman of Guy Carpenter’s European and Asian operations, is to join Aon, The Insurance Insider can reveal.
03 August 2007
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