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Glacier Re launches Liechtenstein primary insurer
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.
13 November 2006
AXA securitises EUR350mn of life mortality risk
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.
13 November 2006
UK trial date set for ‘Independent Three’
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.
13 November 2006
FSA approves Chevanstell sale
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.
13 November 2006
Generali impresses analysts
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.
13 November 2006
AIG beats forecasts with 3Q earnings
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.
10 November 2006
R&SA in line with 3Qs
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).
09 November 2006
Zurich poaches RBS Insurance chief to Europe role
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...
08 November 2006
Oil Casualty loses A- rating
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.
08 November 2006
Munich Re ups profit forecast on benign cat year; EUR1bn share buy-back
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.
07 November 2006
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