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Hannover Re gets Moody’s upgrade
German reinsurer Hannover Re has had its insurance financial strength and debt ratings upgraded from Baa1 to A3 and Ba1 to Baa2 respectively with a stable outlook by rating agency Moody’s Investors Service.
25 April 2005
Cazenove down on Benfield
Investment bank Cazenove issued a downbeat note on reinsurance broker Benfield Group last week following the arrival of former JLT chief executive Steve McGill and the decision to expand its business into the primary markets.
25 April 2005
Aon PA WTC dispute settled in favour of London Market reinsurers
The Aon WTC personal accident dispute has been settled in favour of the London Market reinsurers, according to a judgement released on 21 April. As reported in the March edition of The Insurance Insider, the case came to the Royal Courts of Justice aft
25 April 2005
Big week for Brit with three senior appointments
UK insurer Brit has announced the appointment of two senior underwriters in its Property Treaty and Aerospace segments. At the former, Toby Stubbs joins the company’s Reinsurance Underwriting Centre as Property Treaty Underwriter from Aspen Insurance w
25 April 2005
Aon primes market for the death of TRIA
Delegates at the Risk & Insurance Management Society (RIMS) conference in Philadelphia last week were warned of spiralling costs of terrorism coverage if the Terrorism Risk Insurance Act (TRIA) is not extended.
25 April 2005
AIG unveils new corporate governance measures
Under-the-spotlight insurer American International Group (AIG) unveiled further initiatives to improve its corporate image last week. The insurer – which parted company with its legendary chief executive Maurice “Hank” Greenberg last month in response
25 April 2005
Equitas settles with Goodyear
Lloyd’s pre-1993 run-off vehicle Equitas announced another settlement last Tuesday (19 April) as it revealed it would pay The Goodyear Tire & Rubber Company $22mn to draw a line under outstanding asbestos and pollution-related claims from the tyre manufac
25 April 2005
Fitch downgrades Berkshire outlook on successor fears
Berkshire Hathaway has had its “AAA” long-term issuer and unsecured senior debt ratings outlook downgraded from stable to negative by ratings agency Fitch. In an announcement dated 19 April, Fitch said the downgrade also applied to Berkshire’s wholly o
25 April 2005
Bungey leaves Kinnect
Lloyd’s backed electronic data transfer platform Kinnect has today confirmed the departure of its former customer operations director Phillip Bungey. Bungey, who joined the company in its earliest inception as Lloyds.com in 2001 under former CEO Ashok
25 April 2005
Advent appoints Numis for AIM IPO plan
Lloyd’s reinsurer Advent Holdings has appointed the insurance specialists Numis Securities to advise on a proposed flotation on the London Stock Exchange’s Alternative Investment Market (AIM).
25 April 2005
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