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Lloyd's CFO gloomy about investment prospects for 2009
Like a number of its reinsurance peers, Lloyd's is gloomy about the prospect of getting any investment returns from 2009.
Smith steps down as Swinton CEO
The chief executive of Swinton Patrick Smith is to step down, to be replaced by current deputy chief executive Peter Halpin. Mr Smith will remain on the board as chairman.
Bluefin loses employment tribunal
Bluefin Insurance Services has lost an employment tribunal against a former manager who accused the broker of unfair dismissal.
Tokio Marine expects net income to slump
(BESTWIRE) - Tokio Marine Holdings Inc. [50962] said its net income is expected to fall 95.4% to 5bn yen ($52m) for the 2008 fiscal year which ends March 31, 2009, due to continuous price fluctuations in stock and foreign exchange markets.
Buffett's motor insurer heads for Massachusetts
(BESTWIRE) - The Massachusetts automobile insurance market could have another entrant - the third-largest U.S. provider of auto insurance - if regulatory approvals are granted.
First Assist expands rehab services
First Assist is expanding its quality accredited rehabilitation services with the creation of a dedicated centre based at its Purley head office.
AIG execs hand back $50m in bonuses
Fifteen of AIG's 20 leading bonus recipients have agreed to give them back in full, according to New York's top legal officer.
Lloyd's profits down by £1.9bn, but chair and CEO optimistic
Lloyd's has announced a profit before tax of £1.899bn, down from £3.846bn in 2007.
Colemont in Miami joint venture
Insurance broker Colemont Global said it has signed a joint venture agreement with Al Mason, the CEO of US broker SEMA Insurance in a move that will create a new joint venture company, Colemont Miami Aviation.
Ironshore president to step down
Bob Deutsch is stepping down from his role as president of Bermudian insurer Ironshore on 31 March.
Global Aerospace, Catlin lead FedEx plane crash - sources
Global Aerospace was the global leader of the FedEx plane that crashed at Tokyo Airport earlier this morning, Reinsurance has learned.
AIG sues US government
(BESTWIRE) - AIG, which is trying to remain solvent under a $182.5bn federal rescue plan, is suing the United States to recapture more than $306m in taxes - plus interest.
Argenta opens new Singapore office
Argenta, the Lloyd's (re)insurer has formed a Singapore-based service company, Argenta Underwriting Asia Pte Ltd (AUA), under the Lloyd's Asia Scheme, which will act as a regional coverholder for Syndicate 2121.
Middle East aviation insurance event cancelled
This year's planned General Aviation in the Middle East (GAME) conference, which had been scheduled for April 6/7 has been cancelled, the organisers has said.
THB boss joins RL Davison
Stephen Card has joined Lloyd's broker RL Davison as deputy chairman of the board.
Ascot reports profit increase
Ascot Underwriting has reported a 42.5% rise in profit for the year 2006, representing an increase on the 28.5% – 33.5% previously forecast.
Broking body in executive shake up
The Association of Medical Insurance Intermediaries has made a number of changes to its executive committee at its annual general meeting last week.
LIU Europe grows PI team
Liberty International Underwriters Europe, a division of Liberty Mutual Group, has expanded its professional indemnity presence with a new team covering the market for Independent Financial Advisers.
CIS launches redundancy consultation with 35 staff
Co-operative Insurance Services (CIS) could cut up to 35 members of staff from its motoring division following the launch of a redundancy consultation.
Allianz welcomes Buncefield judgment
Allianz Insurance has welcomed the end of Total's high court battle with Buncefield partner Chevron.
Total found 100% liable for Buncefield disaster
Oil company Total has lost its high court battle with Chevron making will be liable for more than half a billion pounds worth of claims amounting from the Buncefield oil explosion.
Former HBoS manager Pittman confirms loss adjusting return after a decade away
Former Halifax household claims boss Jim Pittman has joined Merlin Professional Claims Services as service centre director.
IBM to trial new Lloyd's Exchange messaging service
IBM has signed an agreement with Lloyd's to trial the new Lloyd's Exchange messaging service.
PBS Holdings unveils new MGA panel as it splits from Axa
PBS Holdings has confirmed that Fortis will take over from Axa as the lead insurer on its underwriting panel from next month.