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Airline insurers warned as rates fall on flagship accounts
The renewal of the flagship Lufthansa airline account last year highlights the soft market for airline insurance, The Insurance Insider can reveal.
12 January 2007
Catlin: Wellington integration on track with $600mn hybrid debt issue
Catlin Group Ltd says the integration of Wellington Underwriting has gone well with more business retained than expected and only a small number of unplanned resignations from key staff.
12 January 2007
Wellington’s US head is latest Catlin departure
Stan Kott, CEO of Wellington Underwriting plc’s US arm - Wellington Underwriting Inc - has become the latest high-profile departure following the company’s £600mn takeover by Catlin Group with his resignation this week.
10 January 2007
Amlin Bermuda’s business up 58 percent this year
Lloyd’s based (re)insurer Amlin plc reported today (10 January) that its Bermudian reinsurance operation has written $87mn of business this year, a 58 percent increase on last year.
10 January 2007
Brit joins G6
UK insurer Brit Insurance Holdings plc joined the G6 group of Lloyd’s insurers on 8 January, taking up the vacancy created by Catlin Group’s £600mn takeover of Wellington Underwriting last year.
10 January 2007
Winterthur upgraded; cuts 350 jobs
As expected, S&P raised its financial strength ratings on Winterthur Swiss Insurance Co by two notches to A+ following the completion of its acquisition by AXA.
08 January 2007
ACE makes Peruvian move
Bermuda’s ACE announced last week it had increased its presence in the South American life market with the acquisition of Peruvian company Altas Cumbres Life Insurance Company (ACLIC) from its Chilean parent Grupo Altas Cumbres (GAC).
08 January 2007
Castlewood to buy run-off finite reinsurer
Castlewood Holdings Ltd, the Bermuda headquartered run-off acquisition and consultancy firm, bought Inter-Ocean Holdings Ltd for $57mn at the end of last year.
08 January 2007
Brokers differ over US cat rate increases
Reports by two major brokers on the 1/1 reinsurance renewals have taken different views on the size of rate rises for US catastrophe exposed property lines.
08 January 2007
Shore Capital disappointed with Catlin renewals
Catlin Group Ltd said its 2007 renewals came “in line with expectations” with a contrast between catastrophe and non-catastrophe exposed business.
08 January 2007
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