Reactions - Global Insurance

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FEATURE: Thiele earns right to be irresponsible 01 September 2010

Patrick Thiele is leaving PartnerRe after 10 years. He leaves his successor, Costas Miranthis, a much different firm to the one he inherited.
Earl to intensify and pass by US east coast 30 August 2010

Tropical Storm Earl became a hurricane over the weekend and is likely to become a category three hurricane later today, before heading north towards the US East Coast, reports the RMS/Reactions catastrophe centre.
Convergence Quarterly: Q2 ILS activity 27 August 2010

The insurance-linked securities market had an impressive second quarter. It was so good some believe full year cat bond issuance could now beat last year’s total.
Danielle now a hurricane, Earl to become one 27 August 2010

Hurricane Danielle has reached major hurricane status, becoming the most intense storm of the 2010 season, while Tropical Storm Earl is likely to intensify to a hurricane in the next few days, according catastrophe modelling firm Risk Management Solutions.

FEATURE: Murky waters 02 September 2010

It looks as though only time will pull the marine insurance out of stable but competitive waters as the global economy gradually heals itself.
Standard Life to axe 500 jobs 02 September 2010

Standard Life will lay off 500 employees as part of its CEO, David Nish’s efforts to cut costs, Bloomberg reports.
Cigna acquires Belgian insurer 01 September 2010

Global health service company, Cigna, has purchased Antwerp-based Vanbreda International.

FEATURE: Murky waters 02 September 2010

It looks as though only time will pull the marine insurance out of stable but competitive waters as the global economy gradually heals itself.
Omega Insurance posts H1 loss 01 September 2010

Lloyd's of London insurer Omega Insurance has recorded a pre-tax loss of $34.2m in the six months to June 30, a decline from a profit of $22.9m a year earlier, The Financial Times reports.
AM Best affirms Chaucer syndicate ratings 31 August 2010

AM Best has affirmed the Best’s Syndicate Rating of A (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084 and affirmed the ICR of “bbb” of Chaucer Holdings in the UK.
Debate over Stanford legal fees heats up 30 August 2010

The lawyers of Allen Stanford and two accounting executives who worked for him want to distance their clients from the alleged financial wrongdoing insurer Lloyd's of London cites as a reason to void a policy covering their defence fees, reports Reuters.

AIG hires 11 bookrunners for AIA listing 03 September 2010

American International Group has appointed 11 bookrunners for its pan-Asian life insurance unit’s IPO, The Wall Street Journal reports.
Newbridge sells $1.2bn Ping An shares 03 September 2010

Newbridge Capital has raised $1.2bn by selling shares in Chinese insurer, Ping An Insurance, Bloomberg reports
AIG applies for AIA IPO 02 September 2010

American International Group has filed an application with the Hong Kong Stock Exchange to list its Asian life insurance unit, AIA, reports Reuters.
FEATURE: Murky waters 02 September 2010

It looks as though only time will pull the marine insurance out of stable but competitive waters as the global economy gradually heals itself.

AIG hires 11 bookrunners for AIA listing 03 September 2010

American International Group has appointed 11 bookrunners for its pan-Asian life insurance unit’s IPO, The Wall Street Journal reports.
Insurance regulators hire BlackRock 03 September 2010

The National Association of Insurance Commissioners in the US has appointed BlackRock to evaluate commercial mortgage holdings for the insurance industry.
Title premium insurance drops in Q2: Alta 03 September 2010

Title insurance premiums written during the second quarter of 2010 dropped 8.5% as compared with the same period a year ago, according to the American Land Title Association (Alta).
AIG applies for AIA IPO 02 September 2010

American International Group has filed an application with the Hong Kong Stock Exchange to list its Asian life insurance unit, AIA, reports Reuters.

Discovery posts H1 results 03 September 2010

South Africa’s Discovery Holdings has posted results for the first half of 2010. The company’s operating profit increased by 36% to $345.045m, while its gross inflows under management exceeded $5.658bn in the first six months of this year.
Metropolitan posts H1 results 02 September 2010

South African insurer, Metropolitan, has posted results for the first half of 2010, Reuters reports. The firm’s profit has increased by 13% in the first six months of this year.
Japan, Qatar firms eye AIG's Nan Shan 30 August 2010

Japanese and Qatari investment firms may place their bid for AIG’s Taiwan unit if the present bid gets cancelled, Reuters reports, citing Taiwan’s Commercial Times.
FEATURE: IASB proposes accounting overhaul 17 August 2010

The overhaul of accounting standard proposed in the IASB’s recent exposure draft would be a pain for insurers to comply with. But the benefits outweigh the inconvenience.

Brazil health insurer to raise $514m in bond sale 30 August 2010

Amil Participacoes, a Brazilian health insurance provider, is planning to raise $513.8m in a bond sale, Bloomberg reports
PROFILE: Kiln turns up temperature on growth 30 August 2010

Now firmly established in the Tokio Marine fold, Kiln is expanding in Asia and elsewhere, according to its CEO Charles Franks.
Endurance hires LatAm head from Odyssey Re 26 August 2010

Endurance Specialty Holdings has announced a new hire to lead the expansion of Endurance's global reinsurance portfolio in the Latin American market.
Nat cats could cost Caribbean 9% of GDP 19 August 2010

Climate change could increase the risk of hurricanes and storms in the Caribbean and threaten future development in the region, according to a new study released by the Caribbean Catastrophe Risk Insurance Facility