Reinsurance
Canopius completes Omega acquisition
Canopius Group has completed its acquisition of Omega Insurance Holdings.
XL makes dual reinsurance promotion
XL’s reinsurance operations has appointed Mark Berry and Paul Simons to senior vice president and managing director, international property & specialty and senior vice president, head of US property treaty, respectively.
Canopius seals Omega deal
Private-equity backed insurer Canopius’s acquisition of Omega has completed today, increasing its annualised premium income to more than £1bn.
Liberty sets sights on specialist risks
Liberty Syndicates is setting up a new underwriting team to focus on specialty products headed up by Peter Smith.
Travelers snaps up Chartis boss for legal role
Travelers has appointed John Abramson to head of legal and compliance for its European businesses.
Amlin reports leap in H1 profit to £184.5m
Amlin has reported profit before tax of £184.5m in the first half of this year compared to a loss of £192.3m in the first half of 2011.
Thai officials confident of securing reinsurance for £1bn flood fund to meet demand
The Thai Office of the Insurance Commission is to seek extra reinsurance from international players to meet demand for the state-owned natural catastrophe fund.
Hannover Re profit soars despite €61m quake loss
Hannover Re has reported a 15.1% improvement in gross written premium for non-life reinsurance to €4.1bn (H1 2011: €3.5bn) compared with the same period last year.
Middle East Blog: Rated or not rated? What is the question?
On a recent visit back home to Malta I was kindly invited to the Malta Insurance Institute's annual general meeting where I had to sing for my supper.
XL group posts $397.8m interim profit
XL Group recorded profit of $397.8m for the first six months of 2012, after a $1.6m loss in the first half of 2011.
Munich Re posts €1.6bn profit for H1
Munich Re posted consolidated profit of €1.6bn for the first six months of 2012, €812m of which derived from the second quarter.
Swiss Re posts 91% drop in net income for Q2
Swiss Re's net income attributable to common shareholders fell by $877m to $83m (2011: $960m) in the second quarter of 2012 owing to a $1bn loss from the sale of the US business Admin Re.
XL underwriting returns to profit
XL's property and casualty business has reported a rise in gross written premium in the first six months of the year to $4.08bn compared with $3.86bn in the same period in 2011.
Aon Benfield director appointed CEO of Willis' Chilean operation
Global broker Willis has appointed Alejandro Vaccaro as chief executive of the company's Chilean facultative reinsurance division.
Low cat activity aids Munich Re recovery
Munich Re reported a group operating result of €2.3bn in the first half of the year, compared with a loss of €437m in the same period in 2011.
Catlin sees 35% increase in European GWP in H1
Catlin reported a 23% increase in gross written premiums from its international business in the first six months of 2012, rising to €577m from €471m in the first half of 2011.
Catlin registers H1 boom in net underwriting contribution
The Catlin Group has chalked up a record $443m (£284m) in net underwriting contribution for the first half of the year, with results also showing the Bermuda-based firm maintaining a combined ratio of 86%.
Sidley Austin advises Munich Re on £300m longevity risk deal
Law firm Sidley Austin has advised Munich Re on its assumption through reinsurance of £300m of longevity risk from Pension Insurance Corporation.
Novae calls time on engineering and motor reinsurance
Novae is to replace 12 of the 17 Zurich-based reinsurance underwriters who exited the business earlier this year, conceding that the Swiss operation was "overstaffed".
Novae investors relieved as reinsurance team is rebuilt
Novae's swift move to rebuild its reinsurance underwriting team in Zurich following the resignation of chief executive Gunter Saacke, chief underwriting officer Will Schuerch and a number of underwriters suggests that the company remains committed to…
Novae back in profit at H1 2012 as new strategy remains 'on track'
Novae Group has this morning reported a profit before tax, foreign exchange losses on non-monetary items and non-recurring items for the first six months of 2012 of £19.6m (H1 2011: loss £30.1m).
Q&A with DAC Beachcroft's Steven Dewhurst
DAC Beachcroft appointed Steven Dewhurst as an insurance partner in its Singapore offices in January with the aim of expanding its international network. Francesca Nyman spoke to him six months into the role to find out about the issues affecting the…
Plumeri admits Willis' mettle has been 'tested' as revenue remains flat
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
Xchanging wins Tokio Millennium Re deal
Business process and technology services provider Xchanging has secured a contract to provide additional infrastructure services to global reinsurer Tokio Millennium Re (UK).