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Benign conditions fuel surge in US underwriting profit
Benign loss conditions contributed to the US property casualty industry recording an underwriting profit of $15.1bn for the first half of 2006, according to a report from rating agency AM Best.
09 October 2006
Aon appoints James as Captive MD
Aon announced the appointment of Clive James as group managing director of Aon Insurance Managers (AIM) Global, the captive management division of Aon Captive Services Group (ACSG) last week (3 October).
09 October 2006
Aon launches security insurance
Aon Limited’s Risk Management Solutions (ARMS) division launched a Security Insurance offering on 6 October that will allow companies to fund major business initiatives while providing long-term financial security to third parties.
09 October 2006
Beazley raises £150mn subordinated debt
Lloyd’s insurer Beazley Group plc announced on 4 October plans to raise £150mn in subordinated debt.
09 October 2006
AXA reshuffles ahead of Winterthur integration
French insurer AXA Group announced last week (2 October) a series of managerial appointments in its Mediterranean and Japan Asia Pacific divisions as it paves the way for integration with recently acquired Winterthur.
09 October 2006
Converium agrees collateral reduction on its letter of credit facility
Converium announced last week (3 October) it has agreed a collateral reduction on its letter of credit facility.
09 October 2006
Brokers warn of softening PI market
Leading brokers Marsh and Aon have highlighted the rapidly softening UK public indemnity (PI) market.
09 October 2006
Fitch launches ‘Beta’ version of Prism capital model
Fitch Ratings launched the formal European “introductory period” of Prism, the agency's global insurance capital model on 4 October.
09 October 2006
Wellington promote Yeldham as deputy chief underwriter
Wellington Underwriting Agencies Limited last week (3 October) announced the promotion of Matthew Yeldham to deputy chief underwriting officer of its managed Syndicate 2020 at Lloyd’s.
09 October 2006
Benign season could speed up softening, says Catlin
A benign conclusion to the 2006 hurricane season could speed up the softening market for non-catastrophe exposed property casualty (re)insurance worldwide.
04 October 2006
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