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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
Willis poaches Marsh energy execs
Willis Group Holdings has expanded its energy division by raiding rival Marsh Inc to appoint two senior executives to its New York based team.
06 November 2006
Charman slams competitors as Axis unveils strong 3Qs
Axis Capital reported strong third quarter earnings of $226.2mn last week but founding chief executive John Charman used the opportunity to warn over “irrational and unmonitored competition” which is fuelling downward pricing pressures in a number of...
06 November 2006
Berkshire thanks ‘luck’ for $2.77bn quarter
An “outstanding year” to date in its property & casualty operations contributed to investment conglomerate Berkshire Hathaway reporting third quarter net earnings of $2.77bn on Friday (3 November)...
06 November 2006
HIH given green light to sue Lloyd’s syndicate
Liquidators for failed Australian insurance company HIH have been given the go-head to sue Lloyd’s Limit Syndicate 386 for Aus$54mn.
06 November 2006
Helix appointed on D&H account
Helix UK Ltd, the claims management firm owned by broking group SBJ Ltd, announced last week that it has won a new account from Duncanson & Holt Syndicate Management Ltd.
06 November 2006
CIC policyholders to be compensated
The 1,700 policyholders who bought insurance from the unauthorised insurer CIC will receive compensation following a UK High Court decision last week.
06 November 2006
Golder leaves AXA Art for new landscape
Adam Golder, chief executive of fine art insurance specialist AXA Art UK, is to leave the company at the end of the year, Insider Week can reveal.
06 November 2006
Hiscox plans record Lloyd’s capacity
Hiscox will depend on up to £87.5mn of qualifying quota share capacity next year as its flagship Lloyd’s Syndicate 33 expands to a record size of £962.5mn, according to a business plan submitted to Lloyd’s.
06 November 2006
Marsh parts company with Malloy
Marsh Inc’s chief executive Brian Storms has parted company with another senior executive following the announcement last week that the broking giant was to make its President William (Bill) Malloy redundant.
06 November 2006
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