News

23rd February 2012 00.10 am

Conning expands Europe investment team

Insurance asset manager expands European team with two hires from Amundi.

22nd February 2012 23.30 pm

Zurich Q4 profit down 46%; FY ROE 11 9%

Full year profit increases to $3.77bn, with an ROE of 11.9%.

22nd February 2012 22.40 pm

RenaissanceRe and Everest top-up buyback programmes

Bermudians RenaissanceRe and Everest Re have both seen their boards approve increased share repurchase programmes as they continue to pursue active capital management strategies. RenaissanceRe said its board has approved an increase in its open-ended buyback programme that takes ..... full article»

22nd February 2012 21.50 pm

Potential Hartford split raises uncertainties

The potential split of The Hartford’s life and property/casualty units would raise uncertainties for the US insurer’s ratings, Fitch has said.

22nd February 2012 21.50 pm

Lloyd’s refocuses on India access

Lloyd’s of London is increasing its focus on exploring licence opportunities in India, with a delegation of 25 Lloyd’s managing agents and Lloyd’s brokers visiting the country last week.full article»

22nd February 2012 21.10 pm

Catlin well placed to capitalise on improving rates: Nomura

Catlin says it is "well placed" to take advantage of rising rates this year, with a capital buffer of 14 percent and third-party capital structures set up for 2012, according to Nomura analysts. The group's reinsurance programme which successfully kicked in during t..... full article»

22nd February 2012 20.40 pm

Greenlight renews retro book with 15% rate increases

Hedge fund-owned reinsurer Greenlight Capital Re renewed its property catastrophe retrocession book at rates that rose 15 percent at 1.1, despite competition from new non-traditional players in the market. Speaking on a call with analysts after reporting strong Q4 profits, Greenl..... full article»

22nd February 2012 19.10 pm

Upcoming Chubb cat bond gets S&P rating

East Lane Re V will provide hurricane and thunderstorm cover to US insurer Chubb.

22nd February 2012 17.30 pm

49 dead, more than 600 injured as Argentina train slams into station

BUENOS AIRES, ARGENTINA (BNO NEWS) -- At least 49 people were killed on Wednesday when a packed commuter train slammed into the end of the line in Buenos Aires' busy Once station, officials said. More than 600 others were injured.

The train derailed after hitting the b..... full article»

22nd February 2012 17.30 pm

Flagstone still expects to agree Lloyd's sale in Q1

Restructuring Bermudian reinsurer Flagstone has said that despite delays in the sale of its Lloyd's business it is still confident a deal will be struck by 31 March. Flagstone placed its Lloyd's business and its Caribbean home and motor insurer Island Heritage up for sale..... full article»

22nd February 2012 17.20 pm

Five dead in suspected murder-suicide at Georgia spa

NORCROSS, GEORGIA (BNO NEWS) -- Five people were killed on late Tuesday evening in a suspected murder-suicide at a health spa in an Atlanta suburb, police said on Wednesday.

Police said three men and two women were found dead at the Su Jung Health Sauna in Norcross, ..... full article»

22nd February 2012 17.20 pm

Philippines lifts ban on Europe-bound nannies

MANILA (BNO NEWS) -- The Philippines on Wednesday lifted a ban on sending domestic helpers to all European countries after new protection guidelines were issued, the Department of Foreign Affairs (DFA) said.

The DFA said that the new guidelines are meant to facilitate..... full article»

22nd February 2012 17.20 pm

IRB privatisation back on the agenda

The only certainty for any reinsurer operating in Brazil is the high level of uncertainty created by politicians around the future of the IRB.

22nd February 2012 17.20 pm

Brazil reinsurance market cracked open

Feature: Nobody is entirely happy with the final outcome of the Brazilian reinsurance market opening, but the result is a dynamic market that will likely have more local reinsurers soon.full article»

22nd February 2012 17.10 pm

Malaysia bans sale of British sex education book

KUALA LUMPUR, MALAYSIA (BNO NEWS) -- Malaysian authorities on Tuesday ordered bookstores to stop selling a classic children's sex education book by a British author, local media reported on Wednesday.

Malaysia's Home Ministry ordered a temporary halt to the sales of Pe..... full article»

22nd February 2012 16.40 pm

Watch our Global Risk Management Webcast

A webcast took place on February 15 that revealed how leading insurers are tackling challenges of optimising economic and regulatory capital, managing risk across the enterprise and providing higher-quality financial reporting through better data integration. The replay is now av..... full article»

22nd February 2012 15.40 pm

Lloyd's Bolt warns on Bribery Act

The London market has issued guidance of its expectations of managing agents under 2010’s Bribery Act, asking for scrutiny on any additional payment arrangements.

22nd February 2012 15.40 pm

Comment: Corporate reputations on the line

Reputation risk is heightened because too often there's inadequate information flow. Risk professionals need to feel more confident to report on risks and some firms need to take the CRO role more seriously, says Reactions contributing editor Garry Booth.full article»

22nd February 2012 14.40 pm

Three killed in latest prison riot in northern Mexico

MONTERREY, MEXICO (BNO NEWS) -- Three inmates were killed on Tuesday when a riot broke out at a prison near the metropolitan area of Monterrey in northern Mexico, an official said on Wednesday. It comes days after another deadly riot.

Nuevo León state security spokesm..... full article»

22nd February 2012 14.00 pm

Corporate reputations on the line

Comment: Reputation risk is heightened because too often there's inadequate information flow. Risk professionals need to feel more confident to report on risks and some firms need to take the CRO role more seriously, says Reactions contributing editor Garry Booth.full article»

22nd February 2012 12.10 pm

Torus recruits Aviva’s deputy group CFO

Tim Harris will join Torus from Aviva to take up the role of group chief financial officer.

22nd February 2012 12.10 pm

Aon appoints non-exec director

Jim Pettigrew will serve as a non-executive director at the broker, replacing Ron Amy on the board.

22nd February 2012 10.10 am

Suncorp adds further A$300mn of NZII losses

Suncorp has told reinsurers that its loss estimate for last year's second New Zealand earthquake has risen by A$300mn to A$2.3bn. The increase in the ground-up loss is likely to be handed over in its totality to its 2010/11 reinsurers, keeping Suncorp's net loss steady. H..... full article»

22nd February 2012 09.40 am

Chartis targets loss ratio with claims team restructure

American International Group (AIG) insurance subsidiary Chartis has rearranged its global claims team under a single management structure in a bid to reduce its loss ratio by 2015. "Last May, we provided investors with a blueprint to achieve a double-digit return on equity a..... full article»

22nd February 2012 09.20 am

Allied World reports slipping 2011 income

The Switzerland-domiciled firm has said that net income for 2011 showed a drop of more than 50% from last year's figures.