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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
'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
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
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
Deadly tornadoes serve Florida reminder
A series of devastating tornadoes have ripped through Central Florida, killing at least 14 people and cutting power supplies to more than 40,000 residents.
02 February 2007
Four arrests in SFO investigation into PWS
Broker PWS Holdings is under investigation by the Serious Fraud Office (SFO) over an alleged $1.6mn Costa Rican reinsurance fraud.
01 February 2007
MMC confirms Putnam sale
Marsh & McLennan Companies, Inc (MMC) has confirmed the much anticipated sale of its asset management arm Putnam Investments to Power Financial Corporation subsidiary Great-West Lifeco Inc for $3.9bn in cash.
01 February 2007
Converium hires Benfield exec
Converium Holdings’ chief executive Inga Beale has continued to re-shape the resurgent company’s senior management with the appointment of Jakob Eugster from Benfield.
31 January 2007
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