September 2007/2

Swiss (re)insurance giant, Zurich Financial Services Group, has revealed a net loss estimate of $260mn for the UK July floods, bringing the group’s total tally for this summer’s events to $660mn.

Specialist Lloyd’s insurance group Chaucer Holdings plc announced continued strong financial performance, with pre-tax profit of £47.9mn, despite softening rates across most lines of business.

Hard-pressed airline insurers mull cut backs as renewals beckon; NYMEX trades first insurance derivative; S&P chief steps down amid sub-prime criticism; MMC in $800mn share repurchase...

Afinia Capital Group has joined the tide of new entrants to the discontinued business sector with backing from high profile capital markets players.

A US bankruptcy judge has approved The Travelers Cos' settlement of one of its largest asbestos exposures for $449mn.

Bermudian (re)insurer White Mountains Group is mulling an innovative motor securitisation, signalling the continued broadening of the insurance-linked securities (ILS) sector from its catastrophe risk roots...

The price paid for Lark Insurance Broking Group by Groupama UK after it triumphed in a four way bidding contest has once again highlighted the increasing value of distribution channels to UK-based insurers.

Although revenue growth impressed at Benfield Group Ltd's Corporate Risk business (BCR), shares in the broker fell as the John Lapsley headed division reported a trading loss of £4.6mn...

Who is the world's largest insurer - both in terms of market value and income - without a UK commercial insurance company?

The timing of Canopius Group Ltd's launch of a $250mn, class 3 Bermudian reinsurer, Canopius Bermuda Ltd, has raised eyebrows when rates are peddling downwards.

Canopius and Beaufort latest to confirm interest

Less than a year after Spitzer's departure, brokers are looking for additional revenues. But who will actually be paying?