Hardy Underwriting has opened a new office in Singapore as the insurance and reinsurance underwriter looks to develop its presence in Asia.
Lloyd’s chairman Lord Levene has revealed that the market is “actively considering” creating a presence in Russia.
New York-headquartered underwriter and insurer, CV Starr, has opened its Paris office as the firm looks to develop its European presence.
The reinsurance giant announced the switch in executive level positions and the appointment of a new chief risk officer, new chief operating officer and a chairman of global partnerships.
Platinum Underwriters Holdings repurchased 2.2 million of its common shares for $91.8 million during the three months ended September 30, 2010.
Reinsurers find themselves with excess capital in a landscape that “looks more like 2007 than 2008”, according to Guy Carpenter, which predicted overall rate decreases in the property catastrophe reinsurance market.
Just 44 percent of US insurers have their reinsurance administered by a dedicated department, according to a survey conducted on behalf of Inpoint Services.
New accounting standards could improve insurance financial reporting and transform the relationship between insurers and investors.
International insurers and reinsurers posted improved financial results in the first half of 2010, despite falling prices and large catastrophe losses.
Eight catastrophe bonds totalling $2.05 billion in risk capital were completed in the second quarter of 2010, making it the second most active second quarter on record, according to a new report issued today by Guy Carpenter & Company, LLC and GC Securities.