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  • Swiss Re echoed the upbeat message of Hannover Re today (14 February) with chief financial officer Ann Godbehere saying: “The hard market is definitely not over”
  • Despite strong underwriting results, fast growing Bermudian-based (re)insurance group White Mountains saw its second quarter earnings hit by rising interest rates, as $139mn of after-tax unrealised losses on its fixed income portfolio contributed to a $38
  • Scor defied its first-quarter cat losses to report a profit for the half-year, as a c.EUR30mn subrogation gain on its World Trade Center (WTC) loss helped it to post a net income of EUR40mn.
  • Buffeted by a draconian restructuring programme and the departure of senior executives, UK broker Heath Lambert had some good news last month - in the shape of a number of new appointments and promotions to its regional and head offices. On 9 March Hea
  • The Lloyd's second syndicate capacity auction took place last week, with average prices up once again on last year.
  • The seventh and final executive convicted over a fraudulent $500mn reinsurance deal that misled investors about American International Group (AIG)’s financial health has been sentenced to two years probation and fined $10,000.
  • A total of nine cat bonds with a combined value of $1.56bn are exposed to Japanese earthquakes and risk being triggered by the magnitude 8.9 temblor that struck the north-east of the country on 11 March.
  • Run-off (re)insurer Alea Group Holdings has reached agreement to “fully and finally” commute all exposure under an excess-of-loss reinsurance treaty.
  • Energy mutual OIL has responded to last year's hurricane losses and spiralling premium costs by cutting coverage in half to a $500mn aggregation limit for multiple claims from a single occurrence. The company has also suggested it may look to...
  • Lloyd’s insurer SVB Holdings Plc has drawn-down a further £32.4mn from the special £103.6mn group reserve it established last year to absorb mounting losses from its syndicates’ legacy US casualty exposures.