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Massey joins Amlin Credit
Amlin Credit, the trade credit insurance arm of UK listed insurer Amlin plc, today (3 January) announced the appointment of Ray Massey as its new risk director.
03 January 2006
AIG subsidiary sued over liability claims
AIG subsidiary National Union Fire Insurance Co of Pittsburgh is being sued by Gemstar-TV Guide International (Gemstar) for $50mn over liability cover the US media company says it has for claims arising out of lawsuits over inflated revenues.
03 January 2006
Over 70 percent accept Aon offer
Over 70 percent of Aon’s US clients have accepted the broker’s offers as it attempts to compensate clients for contingent commissions, after the broker extended its opt-in deadline by a month.
03 January 2006
Creechurch launches takaful syndicate
As revealed by Insider Week in November, Creechurch Underwriting has announced that it is to form Lloyd’s first takaful syndicate, which will be compliant with Shari’a law.
03 January 2006
European floods cost (re)insurers EUR1.25bn
A report by Guy Carpenter has put the total insured loss from last year’s flooding in central and eastern Europe at EUR1.25bn.
03 January 2006
Glacier Re raises $50mn
Swiss reinsurer Glacier Re announced on 21 December that it has raised $50mn in new capital.
03 January 2006
Montpelier Re in $90mn CAT bonds deal
A record year for CAT bond issuance was rounded off on 22 December when Montpelier Re announced two bond transactions worth $90mn in cover with Cayman-based Champlain Limited.
03 January 2006
Mackenzie latest to leave AM Best
Mike Mackenzie has become the latest senior figure to part company with rating agency AM Best’s European operation. Mackenzie resigned his position as general manager of European business development.
03 January 2006
Munich Re on target despite record year for disasters
Giant reinsurer Munich Re has predicted that it will hit its results target for 2005 despite it being the most expensive year ever for natural disasters.
03 January 2006
Advisen estimates $57.6bn hurricane losses
Analysts from US market information firm Advisen have estimated worldwide insurance and reinsurance losses from the trio of major hurricanes hitting the US last autumn will hit $57.6bn, based on reported property and business interruption losses and...
03 January 2006
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