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Lawsuit threat silences Fairfax critic
Morgan Keegan insurance analyst and long-term bear of Canadian combine Fairfax Financial Holdings, John Gwynn, has announced that he is dropping the company from his coverage due to a stock manipulation lawsuit.
29 January 2007
Strong investment return drives Markel results
The specialty insurance group Markel Corporation unveiled its 2006 results last week which saw the group’s combined ratio fall to a mere 87 percent while investment earnings leapt to an impressive $160mn.
29 January 2007
McGill to head new Aon Global division; Mahoney relocates to Bermuda
Aon Corp unveiled a significant restructuring of its senior international management last week which saw the veteran London head Dennis Mahoney relocate to Bermuda.
29 January 2007
Kyrill may trigger Munich Re cat bond: S&P
The European windstorm Kyrill may trigger Munich Re’s EUR110mn cat bond, Aiolos, as the reinsurer announced last week that its losses from the storm may be in the region of EUR600mn.
29 January 2007
Kyrill losses between EUR5-7bn: Munich Re
Munich Re said its pre-tax losses from the European Windstorm Kyrill will be around EUR600mn and estimated the overall market loss at EUR5-7bn.
29 January 2007
Former Heath boss takes charge of Willis’ UK operation
David Margrett, the former group chief executive of Heath Lambert, is to take over as chairman and CEO of Willis Ltd, the broker’s UK operation.
26 January 2007
Swiss Re sees Kyrill losses at EUR140mn; industry figure EUR3.5bn
Swiss Re expects its net losses from the European windstorm Kyrill to be around EUR140mn and gave an overall loss estimate for the industry at the lower end of predictions.
26 January 2007
Markel reports record 2006 results
The specialty insurance group Markel Corporation was fast out of the traps yesterday with its 2006 results that saw the group’s combined ratio fall from 101 percent in 2005 to a mere 87 percent.
25 January 2007
FSA salutes contract certainty achievement
UK regulator the Financial Services Authority (FSA) said today (24 January) that it believes the insurance industry has met the challenge to achieve a solution to contract certainty in the UK.
24 January 2007
Europe raises broker conflicts of interest concerns
After a year-and-a-half long investigation, the European Commissioner for Competition Neelie Kroes has published her preliminary findings into business insurance which raise a number of concerns including "potential conflicts of interest" amongst brokers.
24 January 2007
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