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ACE caps strong year with buoyant fourth quarter
Bermudian ACE Ltd became the latest (re)insurer to benefit from an unexpectedly benign catastrophe environment as it revealed record 2006 operating income of $2.35bn, last week.
05 February 2007
Arrests in Lloyd's broker 'fraud' investigation
Broker PWS Holdings is under investigation by the Serious Fraud Office (SFO) over an alleged $1.6mn Costa Rican reinsurance fraud.
05 February 2007
Cologne hit by board exits
German reinsurer Cologne Re was hit by the exit of two board members, Arno Junke and Rainer Isringhaus, last week.
05 February 2007
'Most successful year ever' for Transatlantic Re
US reinsurer Transatlantic Re has reported that the absence of significant catastrophe losses drove it to its "most successful year ever" in 2006.
05 February 2007
Hannover Re to securitise recoverables
Hannover Re is set to enter a landmark financial transaction that will lay off credit risk on its reinsurance recoverables to the capital markets, a move first revealed by The Insurance Insider in January last year.
05 February 2007
Deadly tornadoes serve Florida reminder
A series of devastating tornadoes ripped through Central Florida last Friday (2 February), killing twenty people and cutting power supplies to more than 40,000 residents.
05 February 2007
Sea Launch explosion threatens space profits
Last week's launch explosion involving an SES New Skies Boeing-built satellite on a Sea Launch platform in the Pacific is likely to cost space insurers $256mn, with potential for further claims to hit the marine market.
05 February 2007
KRW legacy impacts White Mountains Re results
Bermudian reinsurer White Mountains Re said its net written premiums were down for the final quarter of last year, and flat for the year, as improving rates for catastrophe exposed lines off-set falling markets elsewhere.
05 February 2007
Munich Re confirms downward ratings trend
When the reinsurance brokers published their 1/1 renewals analysis last month the general consensus was of flat-to-downward rating pressures outside of US catastrophe-exposed business, so there should have been little surprise when Munich Re...
05 February 2007
Kyrill losses continue blowing in
The industry continues to count the cost of last month's Windstorm Kyrill with ratings agency Moody's estimating insured losses of up to EUR8bn across Europe.
05 February 2007
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