Free Trial

Bermuda

  • 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.

Europe

  • 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.

Lloyd’s & London Market

  • 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.

Asia & Australasia

  • 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.

North America

  • 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.

Middle East & Africa

  • 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.

Latin America

Poll

How big would insured catastrophe losses this hurricane season have to be to move reinsurance pricing up?

$0-15bn
7%
$15bn-$30bn
12%
$30bn-$50bn
38%
$50bn-$75bn
31%
$75bn-$100bn
7%
>$100bn
5%

Quote

CEOs won’t move prices until they see blood in the street and have the concern that some of it might be theirs.

Tom Bolt, director of underwriting performance at Lloyd’s of London