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Validus Re forms $200mn Petrel Re sidecar
Validus Reinsurance Ltd has become the latest Bermudian reinsurer to launch a sidecar with Petrel Re, a $200mn capitalised vehicle specialising in the stretched marine and energy sector.
15 May 2006
R&SA continues de-risking US
UK general insurer Royal & Sun Alliance (R&SA) this morning (11 May) announced first quarter pre-tax profits of £122mn, unchanged from the corresponding period of 2005.
11 May 2006
AIG net income dips 16 percent
First quarter net income dropped 16 percent to $3.2bn at American International Group (AIG), reported yesterday (10 May).
11 May 2006
London insurers relieved after GoshawK disclosure decision
London market broker Tyser & Co has been refused leave to appeal a decision that upheld market custom that underwriters are entitled to placing and claims documentation held by broker.
10 May 2006
Glencairn parts company with Adam Fox
London market broker Glencairn Ltd has parted company with Adam Fox, the head of its reinsurance operations.
10 May 2006
PXRE loses two-thirds of business
Besieged Bermudian reinsurer PXRE Group Ltd today (10 May) reported that it has lost two-thirds of its business following its recent troubles.
10 May 2006
HCC earnings on the rise
US insurer HCC Insurance Holdings reported a significant rise in first quarter net profit of 37 percent to $78.6mn, compared to $57.3mn in the prior-year period.
09 May 2006
Quarterly profits up at Munich Re
German giant Munich Re has announced quarterly profits of €979mn today (9 May), up 41.7 percent from the €691 in the prior-year period.
09 May 2006
Aon u-turn on Docklands move
Aon Ltd, the UK arm of broking giant Aon Corp, has reversed plans to move its London operations out of the City of London and to the Docklands.
09 May 2006
EAIC increases scheme payment percentage
English & American Insurance Company Limited (EAIC) has increased its scheme payment percentage from 30 to 35 percent with effect from 25 April 2006.
08 May 2006
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