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Max Specialty gets Best A-
AM Best has assigned an A- rating to Max Specialty Insurance Company, the recently launched excess and surplus lines operation of Bermudian Max Re Capital.
16 April 2007
EC block exemption promotes competition, says trade body
European insurance trade body the Comité Européen des Assurances (CEA) has urged the European Commission (EC) to retain the industry’s block exemption from certain anti-competition rules, arguing it actually promotes competition.
16 April 2007
Bermuda appoints FSA regulator
The Bermuda Monetary Authority (BMA), the island's financial regulator, has appointed a new chief executive to begin in July, the body said last week.
16 April 2007
Federal cat fund meets government opposition
Charlie Crist, the Florida governor behind far-reaching reform in the state’s hurricane catastrophe fund earlier this year, has run into opposition from the White House over proposals for a federal catastrophe insurance programme.
16 April 2007
AWAC settles with Texas
Bermudian (re)insurer Allied World Assurance Company has made a $2.1mn settlement with the Texas attorney general Greg Abbott over his investigation into bid-rigging by the firm.
16 April 2007
China welcomes three Lloyd’s reinsurers
Three Lloyd’s (re)insurers are building operations in Shanghai as part of Lloyd’s new Chinese reinsurance operation.
16 April 2007
Xchanging selects Web Connectivity
Xchanging, the outsourcing firm that runs the London market’s back office, has announced a tie-up with Web Connectivity for its Insurers’ Market Repository (IMR) Gateway service.
10 April 2007
2007 to provide ‘litmus test’ for (re)insurers
This year's North Atlantic hurricane season will provide a "litmus test" for the (re)insurance industry's ability to adapt, according to Fitch Ratings.
10 April 2007
Increased losses due from climate change
Reports published in the last week have again warned the insurance industry to expect increased financial losses as weather-related catastrophes worsen as a result of climate change.
10 April 2007
AXA set to acquire Smart & Cook
AXA, the French insurance giant, is set to confirm another UK broker acquisition with its swoop for the private equity backed Smart & Cook, according to reports.
10 April 2007
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