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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
Bank of America forms Lloyd's casualty syndicate
Bank of America has launched a Lloyd's syndicate specialising in writing long-tail lines, our sister title The Insurance Insider revealed this morning (29 January).
29 January 2007
Benfield bolsters Fac with Goodman hire
Benfield Group has appointed Jeremy Goodman to a senior position in its facultative business, as it attempts to fill the void left by the high-profile defection of Elliot Richardson and a number of his team to rival Aon last September.
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
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
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 unbowed by Kyrill
Despite losses estimated as high as EUR8bn, Europe’s (re)insurers are unlikely to see any rating downgrades from the windstorm Kyrill, according to Fitch Ratings Agency.
24 January 2007
Florida takes $4bn out of reinsurance market on hurricane gamble
Share prices of Bermudian and Lloyd’s (re)insurers fell following the passage of a bill on Monday (22 January) that will see significant state intervention in the Florida insurance market and take an estimated $4bn premium ou
23 January 2007
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