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Renaissance Re replaces new chief risk officer
RenaissanceRe, the Bermudian (re)insurer, said it has promoted senior vice president Ian Branagan to the position of chief risk officer, effective immediately. In his new role, Mr. Branagan will also join the company's Executive Management Committee.
Close Brothers appoints new chief executive
Close Brothers Group, the parent company of premium finance provider Close Premium Finance has appointed Preben Prebensen as its new chief executive. Mr Prebensen joins the company from Catlin Group where he left the company well placed in its markets…
Equity Red Star establishes Bristol presence
Equity Red Star is further expanding its regional presence with the opening of a new office in Bristol.
Chubb launches new pension scheme liability insurance
Chubb Insurance has launched a new pension scheme and benefit plan liability policy in response to the increasing obligations being placed on trustees and the rising risks they face.
Glacier Group Chief Underwriting officer gets new role
Glacier Group, the European insurer and reinsurer operating as Glacier Re and Glacier Insurance said that it would be restructuring to "take advantage of favourable underwriting conditions through its network of global offices."
Aviva off 3% as FTSE continues fall
Aviva. the UK insurance giant, saw its shares off 3% as the FTSE continued to fall on Friday.
Investment losses hit Odyssey Re FY profits
Odyssey Re, the US (re)insurer said that full year net income fell narrowly to $543.1 m, compared to $587.2 m, for the year ended December 31, 2007.
Former Swiss Re IT head hired for Acord post
Juergen Heck, formerly Head of Global IT Operations for Swiss Re has joined Acord as its program director for Europe for the next several months.
Axa full year profit drops over 80%
French insurer Axa Group said its 2008 net profit fell 83% on negative mark-to-market investment results and related losses.
Cunningham Lindsey launches apprenticeship scheme
Cunningham Lindsey UK is investing in the training and development of its staff with the launch of two apprenticeship schemes.
Australia fire claims mount
(BESTWIRE) - This month's Victoria bushfires and north Queensland flooding contributed heavily to mounting claims costs of Australian insurers, with estimated claims of A$500m (US$323.7m) for the bushfires and A$150m for the flooding.
Catastrophes send Advent to loss
A wave of natural catastrophes as well as two major US hurricanes sent Lloyd's reinsurer Advent diving to a net loss for the 2008 full year, the company said in a statement.
Winter storm Klaus losses upped to €500m- €1bn - AIR
Catastrophe risk modeling firm AIR Worldwide said that it has upped its insured loss estimates for insured property losses for winter storm Klaus across France, to €500m - 1bn.
Scor closes $200m Cat bond
French (re)insurer Scor said it has closed the three series of its "Atlas V" catastrophe bond, the first "cat bond" issued worldwide in six months.
Platinum Re's FY net income declines
Bermudian reinsurer Platinum Re said that full year net income dropped to $226.2m from $356.9m a year earier.
Swiss Re to cut bonus pool by 50%
Swiss Re is to cut its bonus pool by 50% after the Swiss reinsurer battled heavy investment and catastrophe losses during 2008, Reinsurance has learned.
NIG responds to downturn with motor trade product
A product for motor traders designed to support brokers operating in the medium-sized motor trade sector has been launched by NIG.
Groupama record pre-tax profits of £18.5m
Groupama Insurances said that although the policy count remained relatively static, revenues at the insurer lifted 6% to £432.6m (2007: £408.7m), reflecting an improving rating environment in personal lines during 2008 with prices rising consistently in…
Plum launches MNW product
Plum Underwriting has launched Plum Elite a mid net worth (MNW) product, exclusively for the UK broker market. It has also developed and re-launched its non-standard household product, Plum Flex.
Swiss Re says no current plans to conduct rights issue
Swiss Re, the embattled reinsurance giant, said that there were no plans at present to conduct a rights issue.
Beazley and Plum launch MNW product
Beazley is underwriting a new mid-net-worth home insurance product that has been launched by underwriting agency Plum Underwriting to target the UK broker market.
Bond Insurer MBIA splits
(BESTWIRE) Financial guaranty insurer MBIA Inc. will split itself into two entities, one covering U.S. public finance transactions while the other retains the company's more troubled book of structured finance guaranties.
Loss adjuster swoops for Zurich duo
Teceris Liability Services, the recently launched specialist liability arm of Teceris has appointed two new adjusters, Ian Pearson and Chris Ascough, both formerly of Zurich Insurance.
Axa UK reports 36% rise in GI profit to £244m
Axa UK has reported general and healthcare insurance revenues improved by 2% from £3.49bn in 2007 to £3.545bn in 2008. The insurance giant added that whilst there has been a hardening of premium rates in some sectors, competitive conditions in many…