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  • Glacier Re, the Swiss reinsurer backed by legendary investor George Soros and US hedge fund HBK Investments, has formed a separately capitalised insurance company, Glacier Insurance.
  • Almost a year after unveiling the first motor securitisation, French giant AXA has become the first primary insurer to transfer mortality risk to the capital markets.
  • The trial of the ‘Independent Three’ former directors of the collapsed UK insurer Independent Insurance, has been set down for 14 May 2007 at Southwark Crown Court, according to the Serious Fraud Office.
  • The Financial Services Authority (FSA), the UK regulatory body, has approved the sale of run-off (re)insurer Chevanstell to an investor group little more than two months after the deal was first announced.
  • Expanding Italian (re)insurance giant Generali last week (9 November) reported consensus beating third quarter earnings of EUR538mn that were 23.1 percent up on the prior-year period.
  • American International Group (AIG), the world’s largest insurance company by value, was the latest firm to unveil strong third quarter results on the back of a benign 2006 claims environment.
  • Resurgent UK insurer Royal & Sun Alliance (R&SA) reported steady third quarter earnings with a group combined operating ratio of 93.1 percent and an operating result up 21 percent at £590mn (analysts’ consensus £592mn).
  • Zurich Financial Services (ZFS) has appointed the head of Royal Bank of Scotland (RBS) Insurance Annette Court to become the chief executive of its European General Insurance operations. Court, who will also become a member of the insurance giant's...
  • Bermudian-based energy mutual Oil Casualty Insurance Ltd (OCIL) was stripped of its key A- rating by Standard & Poor’s (S&P) earlier this week.
  • Munich Re, the world’s second largest reinsurer, raised its full year earnings forecast and announced its first ever share buy-back today (7 November) as it became the latest industry carrier to benefit from the benign claims season.