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Zurich America settles with US states
Zurich American Insurance Co has finalised its settlements with 11 states, as well as the District of Columbia, resolving allegations of bid rigging, price fixing and misuse of finite risk products.
11 December 2006
US cat renewals to be up 30 percent – Munich Re
US hurricane and catastrophe reinsurance prices are expected to rise about 30 percent in the 1/1 renewals according to German giant Munich Re.
11 December 2006
Further consultancy needed on Solvency II
The EU needs to engage with more companies as it consults about the implementation of Solvency II the proposed new capital requirements for insurers across the EU, according to financial services company Deloitte.
11 December 2006
AIG and Starr reach settlements
US giant American International Group (AIG) and CV Starr, the managing agency controlled by its former chairman and CEO Maurice “Hank” Greenberg, have settled the legal disputes stemming from the termination of their business relationship.
11 December 2006
Endurance upgraded to A by S&P
In a year that has seen ratings upgrades outstrip downgrades for the first time since 2000, Standard & Poor’s (S&P) has upgraded Bermudian (re)insurer Endurance Specialty Holdings Ltd from A- to A in response to growth...
11 December 2006
Benign hurricane season sees Bermudians reap rewards
Following the close of the benign 2006 North Atlantic hurricane season at the end of November, Bermudian reinsurers are anticipating reaping record profits, according to the latest Benfield Bermuda Quarterly (BBQ) report.
11 December 2006
Atrium improves 2004 forecast
Atrium Underwriting became the latest Lloyd’s (re)insurer to release an upbeat trading statement on 7 December, including an improvement on its 2004 year of account.
11 December 2006
Liberty Syndicates cuts back for 2007
Liberty Syndicates - one of the largest Lloyd’s (re)insurers – has reduced its underwriting capacity for 2007 by £187mn.
11 December 2006
Ascot boosts capacity to £625mn
Lloyd’s insurer Ascot Underwriting has confirmed plans to increase capacity on its Syndicate 1414 by 13.5 percent to £625mn for the 2007 underwriting year.
11 December 2006
BMA’s fees set to quadruple for largest reinsurers
Bermuda’s largest reinsurance companies will see their registration and annual licence fees nearly quadruple under new legislation on the island.
11 December 2006
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