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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
SCOR targets A+ rating with Converium deal
SCOR officially launched its hostile takeover bid for rival Converium last week (4 April) as it provided further details of the rationale behind the proposed deal which it hopes will create a top 5 global reinsurer and yield an A+ rating by 2010.
10 April 2007
Lexington launches London casualty operation
Lexington Insurance Company, part of American International Group (AIG), has launched a new Casualty Mid Excess unit in London with capacity of $50mn.
10 April 2007
AM Best: Asbestos underfunding halves in ’05
The US property and casualty industry has made significant progress in funding its asbestos liabilities, according to rating agency AM Best.
10 April 2007
Takaful to stimulate Middle East insurance growth
Takaful insurance is the key to increasing insurance awareness in the Gulf Cooperation Council (GCC), capitalising on the positive economic dynamics of the region, according to a report published by Standard & Poor's (S&P).
10 April 2007
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