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  • US legal industry takes umbrage, while impressive earnings questioned February was a memorable month for AIG and its legendary patriarch Hank Greenberg but not all for the right reasons. It started off well, as the Group revealed a “record” 68 percent
  • A bitter dispute involving two run-off giants culminated today in a victory for Randall & Quilter (R&Q) affiliate Cavell USA and R&Q founder Ken Randall against two insurance companies connected to Bermuda-headquartered Enstar Group.
  • The share prices of European insurers are tumbling as investors get the jitters over a series of worsening results and balance sheet strengthening capital raising exercises.
  • Benfield, one of the world's largest reinsurance brokers, distributed listing particulars to potential investors on 28 May valuing the management owned firm at between £500mn-£660mn (midpoint £580mn). Despite moving its registration to Bermuda, last y
  • Bermudian (re)insurers are expected to play a bigger part in the world’s largest reinsurance contract for the International Group of P&I Clubs as broker Miller Insurance takes the programme to market ahead of next month’s renewal.
  • David Spiller has resigned from his position as CEO of Benfield Group’s International Division, the company announced in a statement to the London Stock Exchange last Thursday (7 July).
  • Insured US catastrophe losses were down to $9bn last year, according to figures published by ISO’s Property Claim Services (PCS) on 16 January.
  • Although Berkshire Hathaway reported a 64 percent hike in third-quarter net income, underwriting profits from its (re)insurance operation nearly halved, from $917mn to $486mn.
  • Catastrophe risk modelling firm Eqecat estimates that the earthquake that hit eastern Turkey on Sunday (23 October) has caused between $100mn and $200mn of insured losses
  • Giant insurer American International Group (AIG) has formed a new unit, AIG Specialty Excess, in order to handle all in-force, new and renewal business currently handled by CV Starr & Co agency, a subsidiary of CV Starr & Co, Inc.