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AIG picks up German firm
Giant US insurer American International Group (AIG) has entered into an agreement to acquire Wurttembergische und Badische Versicherungs-AG (Wuba), its subsidiaries including DARAG Deutsche Versicherungs- und Ruckversicherungs-AG (DARAG) from associates o
13 August 2007
Berkley sets up Australian operation
Berkley Insurance Co, a subsidiary of US (re)insurer WR Berkley, is opening an Australian operation to write casualty facultative and treaty reinsurance.
13 August 2007
Bedford to head up Guy Carpenter’s UK fac broking
Reinsurance broker Guy Carpenter has appointed Rupert Bedford as head of broking for the UK operations of GCFac, the firm's dedicated facultative reinsurance unit
13 August 2007
Aon Re confirms Bromley switch
Broker Aon Corp has confirmed that Geoff Bromley, the former chairman of Guy Carpenter’s European and Asian operations, will join Aon Re Global as vice chairman, as first revealed by The Insurance Insider.
13 August 2007
Kiln underwriter joins Peleus Re
Andrew Carrier, the former active underwriter of Kiln’s Lloyd’s Syndicate 557 and the reinsurance division of its Syndicate 510, will join Bermudian firm Peleus Re later this year.
13 August 2007
Flagstone profits dampened by flood losses
“Class of 2005” start-up Flagstone Reinsurance Holdings Ltd reported Q2 profits hit by $31mn losses from the UK floods in June and $23.5mn from the Australian storm and flooding.
13 August 2007
Validus posts strong second quarter results
Newly-listed Bermudian (re)insurer Validus Holdings’ reported a strong set of inaugural results as a public company last week.
13 August 2007
Flood losses rise to EUR158mn at Allianz
German (re)insurance group, Allianz has raised its estimate for the UK’s summer floods by EUR135mn to EUR158mn in total for June and July.
13 August 2007
Aviva and R&SA hit by £290mn second quarter flood losses
UK (re)insurer Aviva reported heavy losses of £235mn for the UK floods in June, dwarfing those of competitor Royal & Sun Alliance (R&SA), which reported flood losses of £55mn for the second quarter.
13 August 2007
Highly leveraged brokers risk downgrades
Highly leveraged insurance brokers and service providers are subject to high credit risk and may face downgrades, rating agency Moody’s Investor Services warned last week.
13 August 2007
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