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Hannover Re silent on Fitch rating
Hannover Re has not always welcomed unsolicited financial strength ratings, but there was no comment from the German reinsurer last week following Fitch Ratings’ decision to assign an A+ to the company.
25 July 2005
QBE correction over European merger
In the July edition of The Insurance Insider we incorrectly say that QBE’s European Commercial division and its European Retail division were to merge to create a single Dublin based operation.
25 July 2005
Marsh promotes Mina to head of international client services
Patrick Mina, the current head of Client and Market Services in the UK, has been appointed to the newly created role of Head of International Client and Market Services.
25 July 2005
Dennis and Emily make landfall
Hurricane season earlybirds hit US and Mexico Barely a month into the hurricane season and two major storms have already made landfall in the south east United States and Mexico.
21 July 2005
AIG 1Qs show underlying strength
In what was a relatively uneventful month, world's largest insurer AIG continued to play catch-up with the Securities and Exchange Commission (SEC), delivering its first quarter 2005 results on 27 June.
21 July 2005
Contract certainty blamed for rethink on Accounting and Settlement
Lloyd's is planning to scale back the implementation of its Accounting and Settlement (A&S) project for the market as it looks to focus resources on the task of achieving contract certainty by the deadline of the end of next year imposed by...
21 July 2005
ACE restates following finite risk investigation
ACE Ltd is restating its financial results for the last five years after an internal investigation discovered that eight finite risk contracts have been accounted for incorrectly.
21 July 2005
Aon looks for London legacy cure
As broking margins face growing pressures, Aon Ltd may set a precedent by being the first London market broker to hive off its embedded legacy costs to a third party in a bid to save money, The Insurance Insider can reveal.
21 July 2005
Hannover Re cuts back US business; Clarendon restructured
German reinsurer Hannover Re has revealed plans to realign its under performing US subsidiary Clarendon away from program business to specialty insurance, potentially cutting gross premiums by $1bn and increasing group net retention to 80 percent...
21 July 2005
SCOR completes capital raise to buy-back
French reinsurer SCOR has successfully raised a total of EUR233.2mn from the issue of 149.5mn shares (after full exercise of over-allotment option), with the majority of the gross proceeds going to buy back the remaining shares of Irish subsidiary IRP.
21 July 2005
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