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Berkshire enters Californian WC market with AARIS
Despite previously describing the Californian workers’ compensation sector as “crazy”, Berkshire Hathaway has agreed to replace Everest Re as the carrier on Acacia Pacific Holdings’ California Workers Compensation Program.
28 June 2004
Purkiss steps aside at Alea
Recently floated Bermudian (re)insurer Alea revealed last week that CEO Dennis Purkiss will step down from the executive board at the end of June, with group president and COO Mark Ricciardelli taking the reins.
28 June 2004
JLT share price hit by trading fears
Shares in UK brokerage Jardine Lloyd Thompson (JLT) hit a three-year low last week on fears that the company’s profits would be hit by weaker than expected reinsurance volumes.
28 June 2004
AM Best confirms General Re
AM Best has affirmed the financial strength ratings of General Re at A++ (Superior).
21 June 2004
S&P: US reinsurance industry must maintain discipline
Underwriting discipline in the turning market took top priority as US reinsurance industry leaders and Standard & Poor’s (S&P) analysts gathered in New York last week for the rating agencies annual insurance conference.
21 June 2004
Zurich Australia faces 'get tough' reinsurance probe
Australia’s financial regulators are continuing to bare their teeth by revealing last week that they are investigating reinsurance transactions made by Zurich Australia in 2000.
21 June 2004
TRIA hopes raised
But US treasury warns of premature conclusions on renewal Hopes for extension of the Terrorism Risk Insurance Act (TRIA) in the US were raised last week as the US Treasury Department announced its decision to extend the “make available” provisions of
21 June 2004
AM Best: European reinsurers’ financial strength stabilised
After two years of downward pressure on the sector, European reinsurers are at last seeing stabilisation in their financial strength, according to rating agency AM Best.
21 June 2004
R+V in court to outline Risk fraud allegations
Details emerge of circumstances surrounding Gebauer's departure There were more developments in the ongoing litigation between German reinsurer R+V and managing agency Risk last week with the court appearance of R+V CEO Dr Jürgen Förterer at London's
21 June 2004
FSA, Treasury, AIRMIC at loggerheads on plans to regulate risk managers
A row has erupted between the Association of Insurance Risk Managers (AIRMIC), the Financial Services Authority (FSA), and the Treasury over plans to regulate UK risk managers in line with new EU regulations.
21 June 2004
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