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Lloyd’s targets new markets for growth opportunities
Licenses for the Czech Republic and Turkey are next on the list for global expansion
Online Published Date:
14 April 2009
Appeared in issue:
859 - 13 April 2009
Talanx raises its stake in Swiss Life
Swiss Life said the Talanx deal will strengthen its market position in Germany and support international expansion plans
Online Published Date:
14 April 2009
Appeared in issue:
859 - 13 April 2009
Munich Re America leads reinsurance underwriting losses
Combined net underwriting losses for US reinsurers amounted to $552mn last year, compared with a $1.7bn surplus in 2007
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14 April 2009
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859 - 13 April 2009
Validus rebuffed may seek another bride
Even if IPC shareholders were to rebel against their board, the agreement between IPC and Max Capital requires that the IPC board put the proposal to a shareholders’ meeting before entering discussions with another party. That meeting is unlikely to take place before June, Max Capital said, which meant that an offer from Validus or anyone else could probably not be completed until late in the third quarter
Online Published Date:
14 April 2009
Appeared in issue:
859 - 13 April 2009
Group solvency rules fall victim to EU negotiations
A review of Solvency II in 2015 will reconsider the controversial group support proposals that have been dropped
Online Published Date:
14 April 2009
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859 - 13 April 2009
Surge in whistleblowing
Companies advised to develop a more open style of corporate management to enable employees to voice concerns
Online Published Date:
14 April 2009
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859 - 13 April 2009
Generali boosted by Central European expansion
Strong growth in the non-life account followed the inclusion of Ceska Pojistovna and a rise of 143% in premiums from the CEE
Online Published Date:
14 April 2009
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859 - 13 April 2009
Chaucer Holdings Plc
Two thousand and seven was a good year for Chaucer. The company increased its net profits by 16.5% from £59.3mn in 2006 to £69.1mn in 2007. Although this was due to improved performances in all of the company’s three main revenue generating areas i.e. underwriting, investment and the third party capacity management, the improvement in the underwriting result was a little less straight forward than in the other areas
Online Published Date:
14 April 2009
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859 - 13 April 2009
Treasury toxic debt plan and G20 statement keep sector stocks afloat
For the fortnight ending 2nd April, the insurance and reinsurance stocks tracked by WIR broadly maintained the momentum gained over the previous period when sector prices staged their strongest recovery since the beginning of the year.
But this..
Online Published Date:
14 April 2009
Appeared in issue:
859 - 13 April 2009
Chile’s health insurers impose premium rate freeze
Membership numbers at private health insurers have been put under renewed pressure by the global financial crisis
Online Published Date:
14 April 2009
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859 - 13 April 2009
Non-life market overtakes life for first time in six years
Vinare, which formed a strategic partnership with Swiss Re in 2008, recorded a rise in premiums and a 144% jump in profits
Online Published Date:
14 April 2009
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859 - 13 April 2009
Zurich’s O’Sullivan to retire
Zurich Financial Services Group has announced that Patrick O’Sullivan will be retiring at the end of April 2009 after 11 years at the company. Mr O’Sullivan first joined Zurich as chief executive officer of general insurance and banking..
Online Published Date:
14 April 2009
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859 - 13 April 2009
CNA appoints surplus lines vice-president
CNA Financial Corporation has appointed John Angerami as senior vice president of its wholesale and excess & surplus (E&S) business, effective April 20, 2009. Mr Angerami will report to Peter Wilson, executive vice president of CNA’s..
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14 April 2009
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859 - 13 April 2009
Argenta forms Singapore service company
Argenta Holdings Plc has established a Singapore-based service company, Argenta Underwriting Asia Pte Ltd (AUA), which will act as a regional coverholder for Syndicate 2121. The new service company has also assumed responsibility for underwriting..
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14 April 2009
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859 - 13 April 2009
World Loss Log 17 - 30 March 2009
Late reports
13.3, collision, fatalities
Indonesia: one body remained missing from the accident off Jakarta a week earlier, when general cargo vessel Rimba Tiga collided with tug Harapan Indah, after a search team found three more bodies. The..
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14 April 2009
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859 - 13 April 2009
NAIC makes argument for state over federal regulation
The new chief executive of the National Association of Insurance Commissioners (NAIC) Dr Therese Vaughan has defended the state-based system of regulation in the US. Speaking in an interview for the National Association of Professional Insurance..
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14 April 2009
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859 - 13 April 2009
Glacier opens Zurich office
Glacier Insurance has opened a new underwriting office in Zurich, which also establishes a marketing presence for Glacier Re. Richard Etridge, chief executive officer and a founding member of Glacier Insurance, will head up the Zurich operation...
Online Published Date:
14 April 2009
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859 - 13 April 2009
Beazley boosts US presence with First State
Beazley Group plc has completed the acquisition of the entire share capital and all renewal rights of First State Management Group Inc, a US underwriting manager specialising in surplus lines commercial property insurance, from the Hartford..
Online Published Date:
14 April 2009
Appeared in issue:
859 - 13 April 2009
Accounting aspects of the current financial crisis
One of the characteristics of the growth of the financial services industry in recent years has been the extraordinary speed and range of innovation in products, services and indeed in organisational structures through which financial services are..
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14 April 2009
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859 - 13 April 2009
Market players prepare to meet non-life bancassurance demand
In 2006, bancassurance in Italy accounted for nearly 60% of premium income in the life sector compared with just 1.7% in the non-life sector. But non-life bancassurance is said by some to be ready to emerge in Italy and a number of new ventures..
Online Published Date:
14 April 2009
Appeared in issue:
859 - 13 April 2009