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  • Arch Capital Group Ltd is close to launching a new Dublin-based reinsurer that will act as a hub for its European reinsurance operations, The Insurance Insider can reveal.
  • A report by Guy Carpenter has put the total insured loss from last year’s flooding in central and eastern Europe at EUR1.25bn.
  • CV Starr & Co (California), a subsidiary of Hank Greenberg's CV Starr, has hired former AIG executive Jeffrey Hafter as executive vice president in charge of developing the East Coast operations under the agency's Pacific Starr of New York, Inc. entity.
  • Despite assurances by senior management that XL Capital would fight to hold on to its ratings, Standard & Poor’s (S&P) dealt the company a blow late Monday (28 November) with the news that it was downgrading the (re)insurer by a notch.
  • David Stevens, COO of UK niche-branded insurer Admiral Group plc, has purchased £1.9mn of shares in the company, taking the director's shareholding in Admiral to 3.84 percent.
  • Allianz Price 3.13: P/E35: MCap E90087.56: 1 mnth perf -0.9%: 3 mnth perf -8.3% After being poked in the eye by bankers at Dresdner and Deutsche following their failed merger attempt, Allianz’s chairman, Henning Schulte-Noelle, sounded a touch glum
  • GCFac, the facultative arm of reinsurance broker Guy Carpenter, has bolstered its ranks with the launch of a structured risk team headed by former Jardine Lloyd Thompson (JLT) broker John Lobek.
  • Rod Fox, CEO of reinsurance broker Benfield’s US division, has been “granted a leave of absence for personal reasons”, according to a London Stock Exchange announcement last week.
  • In its first year as an independent entity, the London market broker Glencairn Ltd unveiled a 47 percent increase in operating income to £14.575mn for 2002.
  • Imagine Group Holdings Ltd's chief underwriting officer Robert Forness is to leave the (re)insurer to head up Hiscox Bermuda, The Insurance Insider revealed today (21 July).