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  • Maiden Holdings Ltd, the Bermudian domiciled reinsurer that forms part of the AMTrust Group, has produced operating earnings of $58mn in 2008, as it wrote on net written premiums of $727.4mn and produced a full-year combined ratio of 94.9 percent.
  • OdysseyRe may be on the brink of losing its cherished A- financial strength rating after Standard & Poor’s (S&P) responded to the announcement by Canadian combine Fairfax Financial Holdings that it has discovered accounting errors which could reduce...
  • HCC Insurance Holdings Inc revealed that it faces gross Hurricane Rita exposures of $70mn which would net down to $20mn after reinsurance, and $13mn with tax. In a statement, HCC founding chief executive Stephen Way explains: “Rita represents a...
  • JLT is to establish a separately branded company Lloyd & Partners to focus on business produced from independent US retail brokers. Traditionally one of the strongest performing units of the London headquartered broker, JLT's management moved after rec
  • Supplementary benefits removed for all but the senior ranks in efficiency drive… Marsh UK is in the process of scrapping its final salary pension scheme for its staff and ceasing supplementary benefits for all but the highest earners...
  • UK (re)insurer Aviva reported heavy losses of £235mn for the UK floods in June, dwarfing those of competitor Royal & Sun Alliance (R&SA), which reported flood losses of £55mn for the second quarter.
  • The dispute between Randall & Quilter (R&Q) affiliate Cavell USA and private equity owned run-off insurers Seaton Insurance Co and Stonewall Insurance Co is set for an airing in the English courts this autumn.
  • Liberty Syndicates, the Lloyd’s arm of US giant Liberty Mutual, is set to announce the formation of a Paris office as it gears up to expand its Continental business. According to sources, the managing agent of Syndicates 190 and 282 will soon open a Pa
  • The bond fraud case successfully brought by Markel International and QBE against executives of Surety Guarantee Consultants Ltd (SGC) and a former Templeton Insurance director has been referred to the City of London fraud squad.
  • Latest sidecar vehicle Bay Point Re - which will sit alongside Bermudian "Class of 2005" start-up Harbor Point - has received a BB debt rating for its $125mn debt facility from Standard & Poor's, along with a Baa2 debt rating from Moody's for the loan...