December 2007/1
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UK businesses are facing an "unprecedented threat" from home-grown terrorism, Lloyd's has warned.
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Powerful consolidators are forcing insurers to "fundamentally re-examine their operating models" as they tighten their grip on the commercial SME market, according to the latest research.
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As the wide spread of the global credit crisis becomes clearer, more insurers are investigating protection against reinsurer default, according to reinsurance broker RK Carvill.
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Catlin Group Ltd's financial strength and counterparty credit ratings remain unchanged, despite the (re)insurer announcing that it expects to take a $75mn charge against the value of sub-prime-related securities in its investment portfolio.
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Ping An Insurance, China's second largest life insurer, bought 4.18 percent of Benelux financial services group Fortis, at a cost of EUR1.81bn, last week.
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Chaucer Holdings plc became the latest Lloyd's insurer to offer more capital back to shareholders when it promised to increase its total 2007 dividend by 25 percent.
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Marsh Inc has completed its search for a new chief executive with the appointment of Daniel Glaser.
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Reinsurers have been warned about the costs arising from claims inflation in severe bodily injury claims.
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Chicago-based global broker Aon Corp's consulting arm has appointed Mark Blumenthal as its new chief financial officer.
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French reinsurer SCOR SA successfully closed its EUR160mn Atlas IV cat bond transaction, taking its tally of insurance linked securities deals to five.
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Prudential's UK division has entered into a 15 year outsourcing contract, which is expected to be worth £722mn, with Capita Group plc.
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Montpelier Re has continued to build its US operations with the launch of a new direct property facultative division to write business on behalf of its Lloyd's Syndicate 5151.
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AIG UK Ltd, one of the UK’s largest commercial non-life insurers, has appointed two new industry heavyweights to its board as part of its transformation into a multi-billion pound, FSA authorised insurance company.
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US insurer Genworth Financial, Inc has become the latest firm to repurchase shares after announcing a $1bn buyback programme last week.
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US hedge funds Steel Partners II and Carlson Capital are behind a new £75mn composite syndicate at Lloyd's.
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Reinsurers have been ordered to settle a $57mn disputed all risks reinsurance claim with global mining giant Anglo American’s captive insurance company Coromin.
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The merry-go-round of facultative reinsurance broker moves continued last week as Guy Carpenter announced the appointment of Willis broker Catherine Kim.
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The forecasts for Bermuda-headquartered Hiscox Ltd's Syndicate 33 remained steady when the firm reported last week.
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Marsh UK has appointed Artur Niemczewski as chief executive of its Multinational arm, which comprises its large account practices and specialty businesses.
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UK broking consolidator, Towergate Partnership agreed a £95mn cash offer for Yorkshire-based Broker Network Group last week.
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Last week's Martinique earthquake looks set to trigger the Caribbean Catastrophe Risk Insurance Facility (CCRIF).
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Specialist broker THB Group plc has entered into talks with PWS Holdings over the acquisition of PWS' Lloyd’s broking business and overseas interests.
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Groupama SA is expected to complete its first insurance linked securities transaction shortly, with its proposed securitisation of EUR200mn of French windstorm risk.
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Marsh & McLennan Companies (MMC) should spin-off its Kroll consulting unit as well as the group's Mercer human resources business, according to a Canadian investment firm.