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Hardy hints at Bermuda move
Hardy Underwriting could become the next Lloyd’s insurer to re-locate to Bermuda and take advantage of its lower tax rates, according to its CEO.
22 January 2007
WTC update: Dramatic testimony; Silverstein barred from court
WTC leaseholder Silverstein Properties and insurers led by reinsurance giant Swiss Re are litigating over which contractual wordings the various parties used in placing the building’s insurance cover.
23 March 2004
Guilty pleas mount as probe deepens
A further three employees have pleaded guilty to criminal charges in connection with bid-rigging investigations by New York attorney general Eliot Spitzer.
01 February 2005
Barrette replaces White Mountains execs
Bermudian (re)insurer White Mountains Insurance Group announced today (22 January) that Ray Barrette has taken over from Steve Fass as CEO and Jack Byrne as chairman.
22 January 2007
‘Favourable pricing environment’ helps Montpelier
Bermudian catastrophe reinsurer Montpelier Re said the “favourable pricing environment” was amongst the factors driving it to a profit of $303mn, or $3.25 per share, last year, against a loss of $753mn, or $10.49 per share, in 2005.
19 February 2007
Guy Carpenter sues
Guy Carpenter has filed a lawsuit against rival Lockton Re after a lucrative account moved across following the defection of one of its senior brokers.
04 August 2010
North Korea accused of reinsurance fraud
The North Korean government is attempting to collect on fraudulent reinsurance claims from international (re)insurers, according to reports in the US media.
11 December 2006
R&SA welcomes GM asbestos ruling
UK insurer Royal & Sun Alliance Insurance Group plc (R&SA) has welcomed the ruling of a Michigan Circuit Court that General Motors (GM) is not entitled to coverage for its asbestos and environmental liabilities.
23 January 2007
Equitas boosts asbestos reserves by £400mn
Total payouts fall, but shrinking surplus and deteriorating solvency margin as balance sheet weakens
16 June 2003
Reinsurers refuse to acknowledge North Korean claims
A group of reinsurers which have been joined to Allianz over legal proceedings regarding a controversial North Korean claim have refused to acknowledge the lawsuit.
22 January 2007
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