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Swiss Re exposed to $388mn residual values loss
The latest insurer to face a hefty financial guarantee loss is Swiss Re North America, which was told this month that it must honour a policy guaranteeing the residual value of motor cars leased through Cleveland headquartered Key Bank USA between 1997 an
16 August 2004
Golub quits AIG after Benmosche bust-up
American International Group (AIG) chairman Harvey Golub has quit the firm over a rift with the group's CEO Robert Benmosche, and has been replaced with immediate effect by Robert S "Steve" Miller.
15 July 2010
Fitch removes ACE American Re’s rating
Fitch Ratings affirmed and then removed its insurer financial strength rating of CCC+ on the ACE American Reinsurance Company (AARe).
12 July 2006
"Long reach" of US law highlights D+O requirements
The "long reach" of US law in extraditing the "NatWest Three" bankers from the UK has highlighted the wordings requirements needed from directors' and officers' (D&O) liability insurance, according to Marsh Ltd.
31 July 2006
The Hartford sets fourth quarter records
US giant The Hartford ended a tumultuous 2003 on a high as it delivered a strong fourth quarter performance to post net income per diluted share of $1.59, 57 percent higher than the $1.01 achieved in the last quarter of 2002.
02 February 2004
Heath Lambert wins Sainsbury account
Heath Lambert Group has won the prestigious Sainsbury account from current incumbent Marsh Ltd, our sister publication The Insurance Insider revealed last week.
11 September 2006
Everest Re climbs higher
Bermuda based Everest Re saw its fourth quarter net profits double from $55.6mn to $121.8mn, or $2.15 a share, as the reinsurer continued to capitalise on the strong rate environment. Operating profits rose 95.9 percent to $118.6mn excluding realised capi
09 February 2004
Quanta loses PwC as auditor
Following the resignation of its deputy chairman Michael Murphy last month, Quanta Capital Holdings has suffered further setbacks. The insurance company has suffered a 3.3 percent drop in its shares today (21 August) on top of a 9 percent drop last Friday
21 August 2006
Kemper future under scrutiny
Illinois-headquartered Kemper Insurance Co has seen the surplus in its primary run-off unit, Lumbermens Mutual Casualty, plummet over the last year, fuelling speculation over the prospect of it entering liquidation.
31 March 2010
Stone Point nets $103mn on Axis shares
Stone Point Capital managed fund Trident II is selling off 3 million shares it holds in Bermudian powerhouse Axis Capital Holdings in a block trade.
18 December 2006
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