United States of America (USA)
Survey - Insurance buyers: Making decisions
Elizabeth Duffy reveals the results of recent research into what corporate risk managers look for when selecting a broker partner — and what frustrates them.
US investors ready to back second bond push
Towergate believes that there is a healthy appetite among US investors if it goes ahead with a bond issue in the near future. The consolidator postponed its original £665m placing last week, and will bide its time until the beginning of July to see if…
Risk presentation key, claims international broker survey
According to new research commissioned by Bowring Marsh, the quality of the presentation of risk information is crucial to insureds obtaining the most competitive terms from insurers.
Risk presentation key, claims international broker survey
According to new research commissioned by Bowring Marsh, the quality of the presentation of risk information is crucial to insureds obtaining the most competitive terms from insurers.
European GI CEO Annette Court out in Zurich reshuffle
Zurich Financial Services today announced a streamlined management structure and related senior management appointments. The changes come into effect on 1 July.
Towergate postpones bond issue for 4-6 weeks
Towergate has postponed its £665m bond issue and will bide its time over the next month and a half to see if the markets improve.
Allied World appoints new US claims head
Allied World US has announced that Mark Rosen, executive vice president & chief claims officer will retire in June. Julianne Splain, VP of professional and management liability claims has been promoted to senior VP and will assume responsibility for the…
Towers Watson results hit by heavy merger costs
Net income falls $32m from the third quarter of 2009 due to transaction and integration costs from the merger.
Pru and AIG in talks on restructuring AIA sale
AIG and Prudential are in advanced talks to restructure the $35.5bn sale of AIA, the AIG’s Asian unit, in a move that would cut the cash consideration by about $2bn but could answer UK regulators’ last-minute objections to the deal according to the…
AIG approves $380m bonuses in 2010
AIG has approved a plan to award executives $380m based on their performance according to newswire Bloomberg.
Hiscox to enter aviation as it reports £10m Deepwater hit
Hiscox’s gross written premiums grew year on year by 6.4% in local currencies to £504.1m in quarter one 2010(2009 Q1: £486.5 m).
Liberty Mutual net income soars
US insurance giant Liberty Mutual has reported net income of $315m for the three months ended March 31, 2010 an increase of $293m over the same period in 2009 despite $411m catastrophe losses in the quarter.
New Jersey targets captive and reinsurance markets
New Jersey Insurance Commissioner Tom Considine has praised new legislation that would grow the reinsurance market and create a captive insurance market in the state.
Fairholme increases AIG stake
Fairholme Capital Management, the investment firm run by Bruce Berkowitz, has raised its bet on the recovery of AIG by increasing holdings to 25.5 million shares, following the release of the insurance giant’s first quarter results.
Gulf spill to harden US energy rates - MarketScout
The premium and corresponding rates for all lines of commercial property and casualty business in the United States were down 4% for the month of April 2010.
Johnston Re cat bond completed
Johnston Re, the US hurricane catastrophe bond for the North Carolina Joint Underwriting Association (NCJUA) and the North Carolina Insurance Underwriting Association (NCIUA), closed on Monday at $305m.
Cunningham Lindsey sets up global power group
The loss adjuster announces formation of global initiative to handle major operation loss involving a variety of power related risks.
Zurich reports increased first quarter profits despite high volume of weather and catastrophe-driven events
Zurich has reported a business operating profit of $1.3 bn (£864m), an increase of 19%.
Willis Risk Solutions adds to senior team
Willis has confirmed George Haitsch has been appointed as practice leader for Willis Risk Solutions, the business unit that serves the broker’s large, complex corporate clients in North America.
Mapfre Q1 results decline
Mapfre achieved in the first quarter of the year a net attributable result of €273.1m, 4.8% less than in the same period of the previous year, “as the extraordinary results obtained in 2009 by the group’s parent holding company were not repeated.”
Bowring Marsh names global business development boss
International placement broker Bowring Marsh has named George Jones as its first ever global head of business development.
QBE outlines refinancing arrangement
QBE has launched an issue to institutional investors of 20 year zero coupon senior convertible securities raising $850m ($1.31bn).
PCI weighs in on Senate regulatory reform debate
The Property Casualty Insurers Association of America (PCI) has voiced concerns over the reform of payments into resolution funds.
Transatlantic Q1 results dip
Transatlantic has reported net income of $16m for the first quarter of 2010 compared to $75m for the first quarter of 2009.