Reinsurance
JLT increases revenue by 7% and unveils new transformation programme
JLT increased revenue to £880.1m in 2012 with 7% coming from organic growth and 1% through acquisitions. This was offset by 1% foreign exchange movements compared to 2011.
Lancashire leads pack with "thumping" 2012 result
Lancashire’s 2012 results place it “firmly at the front of its peers in terms of underwriting delivery and return of capital”.
CGSC reveals US management changes
Shaun Hooper has succeeded Neal Abernathy as president and chief executive of Cooper Gay Swett & Crawford's wholesale, reinsurance broking and underwriting operations in North America.
Periodical Payment Orders: Unhappy New Year
Periodical payment orders gave motor insurers a headache in the renewals season as reinsurers struggled to come to terms with them.
Post magazine – 28 February 2013
The latest edition of Post magazine is now available to subscribers as a digital and interactive e-book.
QBE planning 700 job cuts: report
QBE will cut 700 jobs across its worldwide operations according to a report from a media briefing held by the insurer and reinsurer.
Guy Carpenter appointment signals focus on European casualty market
Guy Carpenter & Company has appointed Georg Fuelles as head of European casualty strategy.
Hiscox: UK downgrade could benefit shareholders
Hiscox chief executive Bronek Masojada has refused to panic over the loss of Moody’s AAA rating for the UK, saying the move may benefit shareholders.
Q-Re names CEO
Gunther Saacke has been appointed chief executive officer of Q-Re, a subsidiary of Qatar Insurance Company headquartered in Doha, Qutar.
Kanis to take the reigns of Helvetia's reinsurance division
Former XL property underwriter Gérald Kanis will take over the management of the reinsurance division at Switzerland's Helvetia Insurance from 1 March 2013.
Swiss Re reports 2012 net income up 60%
Swiss Re has reported soaring net income alongside a special dividend for shareholders driven by P&C reinsurance business.
Lancashire produces stable profit despite $44m Sandy loss
Lancashire Holdings saw an increase in gross written premium in 2012 to $724.3m (£475.8m) compared to $632.3m the year before. Its net operating profit slightly increased to $220.3m (2011: $219m) over 2012, and its combined operating ratio was reasonably…
Swiss Re full year net income rises to $4.2bn
Swiss Re posted net income of $4.2bn for the full year 2012, driven by strong profitability in property and casualty reinsurance and strong investment result.
Lancashire Holdings unveils capital management division
Lancashire Holdings has created a capital management division, which will be led by Simon Fascione.
UK court confirms 9/11 was double reinsurance event
The Commercial Court's move to uphold an earlier legal decision that the 9/11 World Trade Center attacks arose out of two events rather than one is "of considerable interest to the insurance and reinsurance market", according to law firm Herbert Smith…
Steady growth at Marsh and Guy Carpenter
Marsh and Guy Carpenter have both seen revenues increase for the year ending 31 December.
Novae in recovery mode following positive trading update
Novae is in "recovery mode" having "turned a corner" by improving its profitability and return on equity according to Westhouse Securities.
To re-joins JLT Re to head reinsurance in China and HK
Henry To has returned to JLT Reinsurance Brokers as chairman and chief executive officer of its reinsurance operations in China and Hong Kong.
Joint ventures are best plan to target emerging markets, says PWC’s Howe
PWC's new UK insurance lead Jonathan Howe has advised UK insurers to enter joint ventures in order to best access emerging markets and protect themselves in the future.
Senior US casualty reinsurance duo joins Towers Watson
Mark Higgins and Fraser Howard will Towers Watson from Aon Benfield, in a move that seeks to cement the firm’s position in the US casualty treaty reinsurance broking in the London Market.
Superstom Sandy strikes Aspen results
Aspen Insurance Holdings reported a combined ratio of 108.0% or 72.0% excluding catastrophes, pre-tax and net of reinsurance and reinstatements, for the fourth quarter of 2012 compared with a combined ratio of 114.3% or 85.9% excluding catastrophes for…
Argo is back in profit in 2012 despite $47.9m superstorm Sandy hit
International specialty insurer and reinsurer Argo has reported post-tax income of $52.3m for the year ending 31 December, recovering from a loss of $81.9m in 2011.
Scor sees 48% growth in Asian treaty business at January renewals
During the January renewals, Scor Global P&C has reported a 9% increase in gross written premiums (to Euro 2.507bn) with an expected 1.3% improvement in technical profitability for total contracts renewed and a price rise of 1.9% net of general inflation.
Argo swings to $52m net income for 2012
International specialty insurer and reinsurer Argo has reported post-tax income of $52.3m for the year ending 31 December, recovering from a loss of $81.9m in 2011.