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El Nino formation does not alter hurricane forecasts – RMS
Catastrophe modelling agency Risk Management Services (RMS) has said that the formation of an El Niño in the eastern Pacific will not alter its medium-term hurricane forecasts.
25 September 2006
Zurich hires Vitale from Willis to drive US sales
Insurance giant Zurich Financial Services (ZFS) has poached Mario Vitale from broker Willis to head up its Global Corporate North America Operations.
25 September 2006
Munich Re heralds new IT infrastructure
Reinsurance giant Munich Re announced last week (20 September) the launch of a new IT infrastructure to support its international reinsurance business.
25 September 2006
Catlin close to launching cat bond
Catlin Group Ltd looks set to become one of the first Lloyd’s (re)insurers to issue a catastrophe bond as the industry’s interest in securitising reinsurance risk continues at a pace, Insider Week can reveal.
25 September 2006
Price Forbes confirms MBO
Price Forbes Ltd, the London-based international wholesale operation owned by Marsh & McLennan Companies Inc, has been spun-out of the broking giant via a management buy-out, The Insurance Insider can reveal.
21 September 2006
$35mn Max Re loss linked to Amaranth
The $35mn third-quarter hedge fund investment reverse revealed by Bermudian reinsurer Max Re Capital yesterday (20 September) has been linked to heavy energy losses at Amaranth Advisors.
21 September 2006
Hardy warns of softening market as profits slip
First half pre-tax profits at quoted Lloyd’s insurer Hardy Underwriting Group plc slipped to £6.1mn the company announced today (20 September), against £7.7mn in the prior-year period.
20 September 2006
Alea falls to loss as run-off plans progress
Failed (re)insurer Alea Group Holdings Ltd announced a post-tax loss of $10.7mn for the first half of 2006 today (20 September) as it continues its transition to run-off.
20 September 2006
Max Re forms new aviation unit
Max Re Capital Ltd is the latest new market in the aviation sector with the arrival of former La Réunion Aérienne underwriter Olivier Marre.
20 September 2006
Omega also moves to Bermuda
Omega Underwriting Holdings Plc has become the second Lloyd’s (re)insurer in a week to confirm plans to redomicile to Bermuda and the first to confirm it has received clearance from the UK authorities.
18 September 2006
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