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Marketplace increases for catastrophe bonds
Much has happened to the (re)insurance industry in the aftermath of this year’s record-breaking hurricane season. One area where Katrina and her stormy siblings have made an impact is in the CAT bond market, with the launch of two new bonds and...
08 December 2005
XL stuns with $2.8bn capital boost
But pressure mounts on O'Hara as arbitration defeat adds to woes for (re)insurer... Pressure is growing on senior management at Bermudian (re)insurer XL Capital after recent comments by equity analysts and rating agency Standard & Poor’s (S&P)...
08 December 2005
Business as usual, says RenaissanceRe CEO
Despite being downgraded by AM Best days after losing founder Jim Stanard, RenaissanceRe is well placed for the opportunities ahead, and will keep hold of key staff, according to the company’s new CEO Neill Currie.
08 December 2005
Rating agencies react to Swiss Re GE acquisition
If Swiss Re successfully completes its acquisition of GE’s (re)insurance operations next year, it seems likely it will come at a price, after the four leading rating agencies announced they may downgrade the reinsurance giant.
08 December 2005
Reinsurance M&A: bigger not necessarily better
Swiss Re’s incoming CEO Jacques Aigrain highlighted the “remarkable fit” between his company and the (re)insurance operations of GE as the companies announced the deal last month.
08 December 2005
Swiss Re challenges merger history with record GE deal
If its proposed acquisition of GE Insurance Solutions concludes without a hitch next summer, Swiss Re will be able to proclaim itself as the biggest reinsurer on the planet, leapfrogging its rival, Munich Re.
08 December 2005
Aon looks to sell Combined
Broking giant Aon has announced that it will be exploring alternatives for its property and casualty underwriting business as it continues to restructure.
08 December 2005
Positive outlook for Marsh
Brokers Marsh & McLennan has “restructured, refinanced and refocused its sales force” and is ready to grow again after suffering a rough year post-Spitzer, according to an analyst.
08 December 2005
Hurricane loss estimates continue to grow
The last month has seen (re)insurers’ storm losses continue to grow with the reporting of Hurricane Wilma exposures along with increased estimates for Hurricanes Katrina and Rita. When Lloyd’s updated its losses from the year’s destructive...
08 December 2005
TRIA extension approved by Senate
US politicians brought some relief to the (re)insurance industry on 18 November with the news that the US Senate had approved a bill to extend the Terrorism Risk Insurance Act (TRIA) for a further two years until the end of 2007.
08 December 2005
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