Bermuda
ARM launches building valuation service
Aspen Risk Management has launched a free building valuation assessment service for its broker partners and clients.
Aon names captive and insurance management CEO
Aon Risk Solutions has appointed Peter Mullen as chief executive officer of its global risk consulting’s captive and insurance management operations.
Brightside looks to diversify as talks held with Arch
Brightside is in talks to add Arch Capital to its panel of commercial insurers, as the broker aims to move into a series of new risks in its commercial portfolio.
Hardy outlines £12m Japan tsunami exposure
In a statement to the London Stock Exchange, Hardy Underwriting Bermuda Limited has issued its guidance on the Japan earthquake-tsunami in March.
Tawa creates specialist run-off reinsurer
Tawa has established a reinsurance run-off firm to provide cover for Penn National Insurance.
Omega rating under review over exposure management concerns
AM Best has placed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Omega Specialty Insurance (Bermuda) and the ICR of “bbb” of Omega Insurance Holdings under review with negative implications.
IRM launches Bermuda group
The London-based Institute of Risk Management is set to launch a new regional group in Bermuda.
Kane acquires HSBC business for $27.5m
Risk and insurance management services Kane has signed an agreement to acquire the insurance management operations of HSBC.
Catastrophe losses hold back Hardy profits
Hardy Underwriting’s profits halved to £10m during 2010, after it faced a string of international catastrophe losses with a net value of £37m.
Novae: UK corporation tax may force us to redomicile
Novae chief executive Matthew Fosh has said the UK’s economic landscape is set to force the insurer to redomicile, so it can remain competitive and yield bigger returns for shareholders.
Business Bermuda names chairman
The board of directors of Business Bermuda have unanimously elected David Cash as its chairman.
Hardy profit halves to £10m
Hardy has reported gross written premium of £279.4m (2009: £242m) and before tax of £10m (2009: £20.1m).
Catastrophe exposure hits Hiscox profits
Hiscox has reported a fall in profits of more than £100m for 2010 after being hit a number of global catastrophes.
Ironshore names property SVP
Ironshore has appointed Daniel Owen as senior vice president of its global property builders risk division.
Solvency II - Equivalence: The cost of regulation to cross-border trading
The regulatory costs associated with cross-border trading have long been a burden on international insurers, but things may be improving explains Nick Lowe.
Bermuda hails “impressive” year for insurance sector
The Bermuda insurance market continued to record “impressive results” - despite another challenging year, The Bermuda Monetary Authority has reported.
Post Europe: Guernsey’s independence
Guernsey recently made it quite clear it would not be seeking equivalence under Solvency II. Dominic Wheatley examines why the authorities there felt the need to make this declaration and what it means for insurers and captives there.
Aspen insurance division makes $23.6m underwriting loss in 2010
Aspen's insurance segment has made an underwriting loss of $23.6m in 2010, compared with an underwriting profit of $13.9m in 2009.
Interview – Robert Hiscox: Opinions of the insurance industry
Robert Hiscox is never one to hold his tongue. When Daniel Dunkley met him to talk about current market conditions, he was as forthright as expected on the FSA, ABI, government policy and price-matching practices.
Hiscox puts UK winter freeze bill at £16m, but on track for healthy profit
Hiscox today reported that although 2010 was marked by many significant and expensive catastrophes, most of these occurred in areas where it had deliberately reduced exposure due to weak rates.
Hiscox puts UK winter freeze bill at £16m, but on track for healthy profit
Hiscox today reported that although 2010 was marked by many significant and expensive catastrophes, most of these occurred in areas where it had deliberately reduced exposure due to weak rates.
Captives in Europe: A certain value in an uncertain environment
Businesses and insurers face times of change and uncertainty but as Frederick Gabriel explains captives’ core values and advantages remain the same.
Post Europe: Captives in Europe: A certain value in an uncertain environment
Businesses and insurers face times of change and uncertainty but as Frederick Gabriel explains captives’ core values and advantages remain the same.
2011 tipped to finally see an upturn in Lloyd's M&A action
Takeover speculation among Lloyd's insurers look set to continue throughout 2011, after Canopius kicked off the year with an approach for rival Omega.