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Converium hires Benfield exec
Converium Holdings' chief executive Inga Beale has continued to re-shape the reinsurer's management with the appointment of Benfield Group’s Jakob Eugster.
05 February 2007
Swiss Re sells headquarters for £600mn
Reinsurance giant Swiss Re confirmed it has sold its landmark London offices, 30 St Mary Axe, to the property firm IVG Immobilien AG for £600mn under a "sale-and-leaseback" arrangement.
05 February 2007
Fraud charges remain against Gen Re execs
A US federal judge has ruled that former Gen Re and American International Group (AIG) execs accused of improper finite reinsurance transactions will have to face fraud charges.
05 February 2007
JLT bear reiterates sell recommendation
Numis Securities has lowered its earnings forecast on the UK-headquartered broker Jardine Lloyd Thompson Group plc and reiterated its sell recommendation on the company's stock.
05 February 2007
Premium up 31 percent at Heritage
Lloyd's insurer Heritage Underwriting reported a 31 percent increase in its written premium last year.
05 February 2007
Lancashire reassures after Florida actions
"Class of 2005" member Lancashire Holdings has reassured investors that it would not be hit by the controversial increase in the Florida Hurricane Catastrophe Fund.
05 February 2007
R&SA proposed spin-off given thumbs up
Lawrence Hamermesh, a law professor appointed by the Delaware insurance commissioner to examine whether the state should approve Royal & Sun Alliance’s (R&SA) plans to spin-off its run-off US subsidiary...
05 February 2007
Legacy strategy should play bigger role in capital management, says survey
Traditionally, the (re)insurance industry has seen run-off as a solution to its distressed and discontinued books of business.
05 February 2007
MMC: Putnam proceeds may be used for acquisitions
Marsh & McLennan Companies, Inc (MMC) will use part of the $3.9bn proceeds from the sale of asset management arm Putnam Investments for acquisitions, according to president and CEO Michael Cherkasky.
05 February 2007
State Farm damages reduced to $1mn
US insurer State Farm Fire & Casualty Co has had the $2.5mn jury award of punitive damages it was ordered to pay to a couple in Mississippi for a Katrina claim reduced to $1mn.
05 February 2007
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