Reactions - Global Insurance

Bermuda Subscribe to RSS feed

Allied World revamps senior management 17 March 2010

Allied World Assurance has re-shuffled its senior level management in Bermuda, Europe and the US.
Bermuda reinsurers' wrote $61bn in 2009 17 March 2010

Global gross premiums written by Bermudian reinsurers remained flat in 2009, according to data released today by the Association of Bermuda Insurers and Reinsurers (ABIR).
Good results not down to leadership: Kelly 17 March 2010

Insurance leaders should not fool themselves that the industry’s recent strong underwriting returns are down to good management, Ted Kelly, CEO of US insurer Liberty Mutual, has warned.
Leaders debate tax issue at WIF 17 March 2010

Tax came up as an issue that concerns insurance leaders, though for different reasons, at the World Insurance Forum.

Ceiops expected to ease Solvency II requirements 17 March 2010

The result of stress tests by the Committee of European Insurance and Occupational Pensions Supervisors’ (Ceiops) hints that the Solvency II framework could prove much more balanced than initially feared, analysts have said.
PZU posts $1.3bn 2009 profits 16 March 2010

Polish insurer, PZU, has reported a net profit of $1.3bn in 2009, representing an increase of over 61% as against 2008.
Axa to appeal Air France compensation 15 March 2010

Axa, France’s largest insurer, said Friday that it will appeal a Brazilian court's ruling that it must pay $1.16m in compensation to the family of a victim of last year’s Air France disaster, Reuters reports.

Brit Insurance names UK distribution head 17 March 2010

Brit Insurance has appointed Vivek Banga as head of UK distribution. In the new role, Banga will focus on further development of the insurer’s distribution strategy, working alongside its broker partners.
Chaucer appoints production head 17 March 2010

Chaucer Holdings has appointed Andrew Voke to the newly created role of head of production for Syndicate 1084 with immediate effect.
Legal Analysis: Solvent schemes survive 17 March 2010

A ruling in Scotland has put schemes of arrangement under scrutiny.
Hiscox expects £100m nat cat loss 16 March 2010

Lloyd’s of London insurer Hiscox said it expects a combined loss of around £100m ($150.8m) from the Chilean earthquake and winter storm Xynthia.

Suncorp expects $183m storm claims 16 March 2010

Suncorp Metway is expecting insurance claims due to massive storms in southern Victoria to reach $183m.
Japan’s NKSJ eyes local, overseas takeovers 15 March 2010

Tokyo-based NKSJ Holdings is seeking to boost its profits through domestic and overseas acquisitions.
AIG Nan San resolution pushed back to June 12 March 2010

The stalled sale of American International Group’s (AIG) Taiwan life unit may not be resolved until June amid concerns over funding, Reuters has reported
Allianz Indonesia targets $544m in premiums 12 March 2010

Allianz Indonesia is aiming to achieve a 16% increase in the total premiums in 2010. The insurer is targeting the premium amount to reach to about $544m.

CNA hires ocean marine veteran 17 March 2010

CNA has appointed Stephen Clark as vice-president of ocean marine. He will oversee the global insurer’s complete ocean marine line of business including hull, marine liabilities, protection & indemnity and cargo.
Hartford to repay $3.4bn bailout funds 17 March 2010

The Hartford Financial Services Group is planning a public offering. The equity and debt issue is part of the insurer’s efforts to fully repay the $3.4bn it received from the US Treasury.
ILFC plans benchmark bond sale 17 March 2010

AIG subsidiary, International Lease Finance Corporation (ILFC), is planning to offer benchmark senior notes due September 2015.
Leaders debate tax issue at WIF 17 March 2010

Tax came up as an issue that concerns insurance leaders, though for different reasons, at the World Insurance Forum.

GCC 2009 premiums surge to $10.6bn 16 March 2010

The Gulf Cooperation Council (GCC) recorded insurance premiums of $10.6bn last year, according to research by management consultants, Value Partners.
Zurich appoints Asia-Pac and Middle East CFO 11 March 2010

Zurich Financial Services Group has announced the appointment of Pascal Perritaz to the position of chief financial officer of Asia-Pacific and Middle East (APME), effective April 1 2010.
Santam records rise in 2009 profit 04 March 2010

South African property/casualty insurer, Santam, has booked an increase in profit for 2009, because of better returns on its investment portfolio.
Axa Cooperative Insurance gets Saudi licence 02 March 2010

Axa Cooperative Insurance has secured a licence from the Saudi Arabian Monetary Agency to start its business in the Kingdom of Saudi Arabia, Trading Markets reports.

Chile loss over $7bn would push up prices: Lippe 16 March 2010

Industry losses of more than $7bn from last month’s earthquake in Chile would increase reinsurance pricing, believes Stefan Lippe, CEO of reinsurance firm Swiss Re.
Montpelier Re estimates Chile quake losses 16 March 2010

Montpelier Re Holdings has announced a preliminary estimate of losses from the recent Chilean earthquake, European windstorm Xynthia and the Australian hailstorms.
Axis could suffer $145m in Q1 cat losses 15 March 2010

Bermuda-based Axis Capital Holdings has provided its catastrophe loss initial estimates for the Chile earthquake and European windstorm Xynthia.
Chile quake costliest to hit Latin America 15 March 2010

If the insured losses from the magnitude 8.8 earthquake that struck Chile last month come in at between $3bn and $5bn, it will be the most expensive insured event to ever hit Latin America, Cooper Gay has said.